Inherited house mortgage

Vantiaggo

First post so hope it's in the first place
My partner has inherited a house that has about 15k mortgage left, can he move into the house and continue with the existing mortgage product or would he have to apply for a 15k mortgage?
Thanks for any help

lucie_1985

You can't take on someone elses mortgage as it needs to be based on your own affordability. Given the small amount left finding a lender may be tricky as many won't lend less than £20k to new business.

maninthestreet

So who's been paying the mortgage since the death of the mortgagee?

Vantiaggo

It's been Left to gather the interest II think it's only just be put to him andI know he's had to pay some money for the arrears but it was an interest only mortgage, I'm not really sure what's happened or happening with it but that's why I thought he may be able to continue the mortgage as if he's inherited the house he's inherited the debt too, but I guess the house will have to be sold and then pay off the mortgage using that money
Thanks for help

Stevie_Palimo

You may not need a mortgage if either you or your partner has a decent credit rating and can apply for a loan to cover any outstanding monies owed.

lucie_1985

As an interest only wasn't there a requirement to have a repayment vehicle in place?

Vantiaggo

I'm really not sure I didn't have anything to do with it and he didn't either as he wasn't executer of the will all I know is money has accumulated that he had to pay off now that it's gone to him, the mortgage lenders have said the mortgage can be paid off when the house is sold
Steve that's a good idea!