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Remortgage to pay her off?
Legacy_user
Posts: 0 Newbie
I am a bit unsure of the following so please excuse me!
Can my partner remortgage to raise funds to pay off his ex so we can take the house? The house was sold but the buyer has pulled out so we are trying to think of ways to raise £10k approx so she will move out and we can take the house, which she would be happy to do if we can get raise the money.
She is not on the deeds or the mortgage, it was a mutual agreement when they split that she keep the house and get her own mortgage but she cant. Therefore he owes her £10k or she takes it from the equity in the house. Its very complicated, but amicable... don't ask lol!
Would really appreciate any advice :-) Thanks in advance!
Can my partner remortgage to raise funds to pay off his ex so we can take the house? The house was sold but the buyer has pulled out so we are trying to think of ways to raise £10k approx so she will move out and we can take the house, which she would be happy to do if we can get raise the money.
She is not on the deeds or the mortgage, it was a mutual agreement when they split that she keep the house and get her own mortgage but she cant. Therefore he owes her £10k or she takes it from the equity in the house. Its very complicated, but amicable... don't ask lol!
Would really appreciate any advice :-) Thanks in advance!
0
Comments
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Raise on which property? The one the ex lives in?
What is your residential status now?
How much is the property worth and how much is owed on the mortgage?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, 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 -
Yes his house but she lives in it. We are renting elsewhere at the moment.
Property is up for sale at £140k at the moment, originally bought for £145k with 75% LTVThis is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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