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Switching partners on mortgage?
rufus86
Posts: 61 Forumite
Hi
Is this an actual possible thing?
I own a property with my sister and we would like to do the following:
1) Buy my sister out by releasing equity in the property and giving her the cash
2) Add my partner to the mortgage, thus taking a new mortgage (or updating the existing mortgage) with the added money we would borrow after equity release
£231,000 currently owed on mortgage
Property now valued at £490,000
Looking to release £50k in equity
Thanks
Is this an actual possible thing?
I own a property with my sister and we would like to do the following:
1) Buy my sister out by releasing equity in the property and giving her the cash
2) Add my partner to the mortgage, thus taking a new mortgage (or updating the existing mortgage) with the added money we would borrow after equity release
£231,000 currently owed on mortgage
Property now valued at £490,000
Looking to release £50k in equity
Thanks
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