Buying into a partners house

Nathev

Hi,

My partner owns a house that he bought previously with his ex. I would like to get a mortgage to buy into the property but I'm unsure how this would work. As I will be a first time buyer I'm also unsure as to whether I would be entitled to the help to buy bonus?

Also not sure if its worth mentioning but the money would be used to renovate the house and add an extra room, I'm not sure if that would make a difference?

Any help on this please!?

Kyresa

Mortgage companies usually specify they want a "first charge" Is there an existing mortgage? If so that would have to be redeemed so you could take out a joint mortgage. This is because your partners name is currently on the Title Deeds and yours would have to be added in addition.

Is your partner happy with signing half their house and equity over to you? I'd say your partner would be well advised to get independent legal advice before going down this route.

MrJB

As Kyresa states - There maybe early redemption penalties, assume that your current partner and ex have now resolved all their issues surrounding the house and ex has no legal ownership over it anymore and is no longer named as a registered owner nor on mortgage?