is this allowed?

Burlesque_Babe

I have a mortgage at the moment of approx 110k against 195k value. Possibly looking to release 10k of the equity, the mortgage is just in my name .

Since buying the property I am not on as high a salary as I was 8 years ago (and even then the multiples were stretched!) and I was wondering if it is possible to apply for a re-mortgage in just my name with my current salary but to also include the income of my OH? (with his permission obviously!) I am now on about 17k and he is on approx 48k. I would also be looking to extend the term so the current repayment doesn't increase.

Current payments aren't an issue and I have no other outstanding credit etc, just half the normal monthly bills. For various reasons we aren't looking to add him to the mortgage but just wondered if his income can be counted without his name being added.

custardy

I doubt they would accept your OHs income if they arent on the mortgage
nless you could demonstrate an agreement to pay you £x for X reason eg rent or whatever.
someone might know for sure though

Dave_Ham

Unless the OH is on the mortgage, you cannot use his income I am afraid.

If you did a 2nd mortgage (Secured Loan) you would be able to use his income, although the terms are often poor with high interest rates so sure there would be a more suitable solution.

Good luck