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change of parties together mortgage
sdawne
Posts: 2 Newbie
Hi I split up fron my ex 7 years ago and remained 'stuck' on the mortgage with him due to negative equity. He has now agreed to a change of parties however my question is: as it is a together mortgage from Northern Rock made up of part mortgage and part unsecured loan, is it only the mortgage that will transfer or the mortgage and the loan? Thank you.
0
Comments
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A transfer of equity only relates to a mortgage.
The unsecured loan would need to be fully repaid. Perhaps he could apply for a new unsecured loan to repay the one in joint names.
Or he could remortgage away from Northern Rock, and consolidate the unsecured debt on to the new mortgageEarly retired - 18th December 2014
If your dreams don't scare you, they're not big enough0
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