Can I remortgage a house that's for sale?

Simon_m29

Looking for some advice, my partner is divorced and is in the process of trying to sell the marital home. Her ex husband is looking to buy the house but is stating that it needs to come off the market before he can get a mortgage is this true?

Doozergirl

Well, it isn't true that you need a property off the market before you can obtain a mortgage.

but most peoole would be loathe to pay valuation fees etc if the house were being offered for potential sale to others.

Getting a decision in principle costs nothing, so that's the thing to do, make sure that a mortgage company would be prepared to lend and how much before commiting to fees.

Simon_m29

Thanks for the reply, the house is in joint names, he wants to take sole ownership of the property which my partner is happy with but he is being awkward and stating it needs to come off the market before he can get a mortgage.

Mossfarr

Might be worth taking it off the market anyway. If the Estate Agent comes up with a buyer but her husband ends up buying her out, she will still have to pay the estate agent !!
Just a thought - the husband may want it off the market in case a higher offer is received so he would have to pay more to buy her out (or am I just being cynical)?

Guest101

Why's it even on the market, if he wants to buy her out, and she can't sell without his signature?

Guest101

Simon_m29 wrote: »

Thanks for the reply, the house is in joint names, he wants to take sole ownership of the property which my partner is happy with but he is being awkward and stating it needs to come off the market before he can get a mortgage.

Hardly awkward, who put it on the market??

G_M

Does your partner agree to sell to her ex?

Have they agreed a price?

If no, then there's no point him applying for a mortgage

If yes, then why is the property still on the market.

Cake and eat it......... !!!!!

Simon_m29

It's on the market because he's a waster and has said he's going to buy the house but he couldn't find his ar se with both hands, make excuses at every step of the way, neither of them live in the property which is empty but she is covering the full mortgage cost because he is a sad excuse of a man.

DandelionPatrol

OP, unless your partner goes to court to get an order for sale, the ex can block any deal.

But there are some downsides for the ex in having it on the market. Firstly, agent's fees may need to be accounted for. And he may be worried that if he starts the mortgage process and is gazumped, he may end up forking out for mortgage fees for nothing.

G_M

Simon_m29 wrote: »

It's on the market because he's a waster and has said he's going to buy the house but he couldn't find his ar se with both hands, make excuses at every step of the way, neither of them live in the property which is empty but she is covering the full mortgage cost because he is a sad excuse of a man.

Well then don't waste time trying to sell to him.

Leave it on the market, find a 'proper' buyer'. Agree a price. Proceed to Exchange.

And then ask him to sign the contract of sale..........:rotfl:

davidmcn

Your subject line and your post appear to be different problems (and it's not a "remortgage" if somebody is buying it). Anyway, whether it is being marketed or not is irrelevant to whether he can get a mortgage offer and buy her out.