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Adding and removing from mortgage
RJ2671
Posts: 1 Newbie
Hiya wonder if anyone can help. My parents split up a few years back and they have a mortgage together. My dad now wants to come off the mortgage and is happy to walk away without anything. Is it possible for me to be added to the mortgage with my mum? But we would also have to change the mortgage type as its currently an interest only. Is that possible?
0
Comments
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Hiya wonder if anyone can help. My parents split up a few years back and they have a mortgage together. My dad now wants to come off the mortgage and is happy to walk away without anything. Is it possible for me to be added to the mortgage with my mum? But we would also have to change the mortgage type as its currently an interest only. Is that possible?
Ok..
Can u and ur mum afford the mortgage?
Is it in negative equity?
Are they married?0 -
It's not a simple case of removing one name from the mortgage and adding another.
You and your mother would have to apply for a new mortgage together, not sure that it's very likely you'll find an interest only mortgage these days so it'll probably be a repayment mortgage.
Are/were your parents married? If so, how was the property dealt with in the divorce or are they still waiting to get divorced?0 -
And give some thought to your own position here. Would having a joint mortgage with your mother limit your own options in the future?0
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