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Remorgtaging to buy 100% Equity
mrknight13
Posts: 6 Forumite
Hello,
I currently own 50% of a shared ownership property bought only a few months ago. However, we are now looking to increase to the full 100%, which is allowed, as soon as possible.
When looking to go to a 100% is a standard normal mortgage available to us or do we still have to apply to one of the shared ownership mortgages on the market?
Thanks in advance,
I currently own 50% of a shared ownership property bought only a few months ago. However, we are now looking to increase to the full 100%, which is allowed, as soon as possible.
When looking to go to a 100% is a standard normal mortgage available to us or do we still have to apply to one of the shared ownership mortgages on the market?
Thanks in advance,
0
Comments
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standard mortgage is the route for 100% ownership (assuming you have the equity/deposit required)I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
That's what I had hoped.
Are you able to remortgage at anytime, even if it has only been 2 months since you took out the mortgage?0 -
mrknight13 wrote: »That's what I had hoped.
Are you able to remortgage at anytime, even if it has only been 2 months since you took out the mortgage?
Lenders will require a 6 or 12 months gap normally.
Whether this will apply to 100% staircasing I wouldn't like to say as I have never seen anyone staircasing up to 100% within a few months.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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