Advice needed from a mortgage/financial advisor!!

callyh26

Thanks but i will only talk to an actual solicitor just wanted some general thoughts and ideas first. Im going to sit him down tonight and get a letter sorted for mortgage company and get him to ring them! Least then he knows where he stands if he can get a mortgage on his own! If not would a written agreement do the job? Signed by both partys with a solicitor?

holly_hobby

Yes thats a common arrangement - BUT she may refuse as she will remain legally liable for the mge debt and its repayment, but with no benefits of free equity from the property (having signed the right to claim away via the agreement).

I know thats not you probably want to hear, but I thought it wise just to air this possiblity so you're not taken unawares if this transpires.

Speak to the lender, see how the land lies, and then make your plan of action from there .....

With regards to debt management, there are lots of free bodies that assist as mentioned above ....

Fees involved in the transfer will be legal fees and the lender may levy their own administration fee.

Hope this helps ... good luck !

Holly x

callyh26

Ok Thanks will get a plan into action :-)