Remortgage/Transfer of Equity

hzcr13

Hi all, this is my first time posting and I am having a bit of a tough time so looking for a bit of help.

My partner and I have been together for 5/6 years and have had a joint mortgage for the past 2 years. Unfortunately, we have decided to part ways, I am not willing to give up the house and with a few changes to utilities/suppliers etc. I could manage and afford the house on my own.

Our fixed rate on the mortgage finished after this 2 years, I am being chased by estate agents to go down for a remortgage review and have explained that we will need to change from a joint mortgage to a single mortgage. Can anyone tell me if this gets very complicated?

I have told my (ex) partner I could give him his deposit back of approx 2.5k to walk away, we paid 5% on a £95,000 mortgage, so at present have approx 85/86k to remortgage on. I paid the mortgage payments while he paid household bills.

I have also advised him to get in touch with a lawyer as we will probably need to have a legal document before remortgaging?

Although I have an appointment on Friday to discuss my options, I was hoping for some advice or pointers just so I know what to expect. Just like within the relationship I seem to be the only one dealing with the matters head on! The more tips and advice the better!

Thanks in advance!!

David_White

I'd suggest talking to your existing lender first as they'll need to run the numbers to see if on paper the mortgage can be supported by your income alone.