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Remortgage Help Please

Hi

I'm after some advice.
I'm having problems re mortgaging my flat (to a lower repayment) and reducing the term with the Yorkshire Building Soc because my partner is living with me (but not on the mortgage), and although she is paying £250/month to me its on a casual basis (ie she keeps it in her own savings and we save up and use it for big bills such as new kitchen utensils) so they wont accept she is paying me anything.
It seems a bit odd that although I am reducing the payments, they still are having a problem giving me a new mortgage. Will this be the same with all financial providers?

Many thanks for any help given

Comments

  • BB.
    BB. Posts: 91 Forumite
    Part of the Furniture 10 Posts Name Dropper Photogenic
    Hello,

    Im in a similar situation. Did you manage to gest a mortgage eventually?
  • kingstreet
    kingstreet Posts: 39,335 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Yorkshire and Leeds have this strange approach of working on number in household, and then treating someone as a dependent because they are not party to mortgage nor ownership even if they are working.

    These lenders are very much in the minority and I can't think of another which operates such a system.
    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.
  • amnblog
    amnblog Posts: 12,768 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Yorkshire - cradle of the commune
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
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