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Intelligent Finance Remortgage
jibwauly
Posts: 7 Forumite
Has anyone experienced remortgaging with Intelligent Finance recently? Just looking for some information regarding this and what they may need if removing and adding someone to a mortgage with them?
Cheers
J
Cheers
J
0
Comments
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A remortgage would be a new mortgage with a new lender to repay IF. You are actually doing a "one-off, one-on" transfer of equity.
The lender will vet the new applicant as any other new borrower and once approved, the matter will be passed to a solicitor for the legal transfer of equity.
Usual cost around £400 to £600. Only the lender can confirm its procedures.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Thanks Kingstreet for the reply,
So to clarify this would be a transfer of equity then. I assumed it was a re-mortgage as I was changing the names and would have to go through a whole new mortgage / affordability application with them.
Would I be vet'd or does that vary on the lender?0 -
They will look at overall affordability in this post-MMR environment, so both existing and new borrower will be assessed.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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