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What type of Mortgage?
Jaybee0403
Posts: 1 Newbie
My husband owns half a house with his brother, which was inherited after their father died. The deeds are in both their names and now we want to buy his brother out. The house has been valued at £70k and we want a mortgage for £35k. There is no mortgage on the house so when we are filling in applications will this be for a First Time Buyer or Remortgage (even though there is no mortgage).
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Comments
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Have you decided on a lender?
Lenders have different views on what they class as a first time buyer.I am a Mortgage AdviserYou 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 -
It's a remortgage of an unencumbered property to purchase equity.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.0
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