Can we remortgage to borrow more for home improvements?

redflwr

Hi

our current lender has said we could re mortgage ( our fixed rate term is ending) to get a better interest rate with the option for more borrowing

BUT

there are 3 people on the current mortgage/deeds
and to re mortgage they will only allow 2 on the mortgage

Does this mean that 3rd person can simply be dropped from the mortgage but stay on the deeds

OR is the case

the 3rd person has to be removed from deeds (this would not be an option as we cant afford to pay their share)

any advise on this would be helpful thanx

Thrugelmir

All people named on the deeds have to be included on the mortgage.

Is the age of the 3rd party an issue?