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Transferring my mortgage to my ex
Options
Comments
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The exact figures someone would charge?
Just ask them. How much, and when's it payable.
No sorry, what I meant was, the figures I would need to find out about my mortgage to take to a broker, i.e. mortgage left, interest rate, how long left.
I have 3 sub accounts on my mortgage for some reason and apparently the majority is interest only and some is repayable.0 -
Why are there 3 sub accounts? Have you ever borrowed extra against the property?0
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According to halifax, the other two accounts have come from where they transferred systems and the other one is fee's, the phone cut out before he could do a detailed search.
I will need ring back, but as far as I am aware no additional borrowing has been carried out.0 -
Don't you have access to the statements?
Find out what the current mortgage is, all the details including the cuurent LTV.
The reality is you won't get anywhere without the ex taking an active interest in sorting this out.
I think you need to get far more clued up on mortgages before you even think about getting another one with a new partner.0 -
getmore4less wrote: »Don't you have access to the statements?
Find out what the current mortgage is, all the details including the cuurent LTV.
The reality is you won't get anywhere without the ex taking an active interest in sorting this out.
I think you need to get far more clued up on mortgages before you even think about getting another one with a new partner.
Thanks, that seems like it will never happen at the moment, but if it does, I will spend A LOT of time researching before hand.0 -
No sorry, what I meant was, the figures I would need to find out about my mortgage to take to a broker, i.e. mortgage left, interest rate, how long left.
I have 3 sub accounts on my mortgage for some reason and apparently the majority is interest only and some is repayable.
You can contact the lender and ask for the balance, monthly payment, current interest rate, and if you have any early repayment charges.
If you have your account number then the broker should be able to request the details too, but this will take a day or two to come through
That should be enough to enable you to get the best advice from the broker.
You will both need to work together on this though, you cant arrange a mortgage for her, she will have to agree to take in on her ownI am a Mortgage Adviser
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.0 -
So here are the figures:
Mortgage: 164k - 3.99 Apr on a standard variable rate, LTV-74%, length of mortgage left is 14 years and 10 months, interest only.
I am not 100% sure on what my ex earn at the moment, but I would say its around the 35k mark.
She has no dependants etc.
What would be my options, a couple of guys have mentioned going for 25-30 years on the mortgage.
Also Halifax have said there policy is to move the mortgage over to repayments if this was to happen.
Thanks in advance.0 -
Its not your options, its hers if shes taking the mortgage.
If you are on the SVR at 3.99% I'm pretty sure the best thing would be to ditch Halifax and start with a new lender on a competitive product.
The lower interest rate will offset the increase to the monthly payments when going to a repayment mortgage.
This means you are free, and the ex will not have to sell up at the end of the term when the lender wants their money back.
Still say the two of you need to discuss with a mortgage broker so you are both fully in the picture thoughI am a Mortgage Adviser
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.0
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