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Additional Borrowing to buy someone out
pollyanna24
Posts: 4,390 Forumite
I know this may be a "How long is a bit of string" question, but wondered if anyone knew.
Once I apply for the additional borrowing, how long does it normally take for it all to go through and me have the additional money to give to the other person?
Once I apply for the additional borrowing, how long does it normally take for it all to go through and me have the additional money to give to the other person?
Pink Sproglettes born 2008 and 2010
Mortgages (End 2017) - £180,235.03
(End 2021) - £131,215.25 DID IT!!!
(End 2022) - Target £116,213.81
Mortgages (End 2017) - £180,235.03
(End 2021) - £131,215.25 DID IT!!!
(End 2022) - Target £116,213.81
0
Comments
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I'd allow 6 - 8 weeks to be on the safe side.
Once the mortgage alteration to one borrower and additional borrowing is sorted, it's passed to a solicitor for the transfer of equity to be done.
The leaving party will be advised to seek independent legal advice.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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