Mortgage Confusion.

gareth7113

Just wondering if anyone can shed any light on my problem.

I currently live in the property that belonged to me and my then wife. She moved out 3 years ago and we have been unable to sell.

She has requested that we remove her name from the mortgage and have it soley in my name, problem being i have a poor credit rating although my mortgage is uptodate.

I spoke to someone at C&G who said i would have to have a new mortgage in order to remove her, is this correct or can we have her name removed and not have to apply for a new mortgage as they have told me they will not give me one.

Hope this makes sense

Thanks

Dave_Ham

Hi,

The information provided is correct I am afraid, C & G will have to ensure you meet their criteria as if was a new application (although they will let you keep your rate if successful)

You can remortgage to a new lender in sole names, although you will need to meet the new lenders criteria of age, income, credit file, loan to value, employment etc.

If this is an option, there are lenders more flexible than C & G (certainly at the moment too) although you will need to elaborate on the bad credit history specifically and detail you loan to value...