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Mortgage broker advice needed - pre planning
jessie-may
Posts: 1 Newbie
My partner and I have decided we would like to buy our first home together and we plan to do so next year.
All of our finances, deposit, employment etc are in order however he bought a house with his sister last year as she could not get a mortgage alone. Everyone keeps telling me removing his name from her mortgage will be straightforward but I'm starting to research and I am worried that he won't be able to come off the mortgage at all!
Can anyone give me advice on how this process will need to be started??
many thanks!
All of our finances, deposit, employment etc are in order however he bought a house with his sister last year as she could not get a mortgage alone. Everyone keeps telling me removing his name from her mortgage will be straightforward but I'm starting to research and I am worried that he won't be able to come off the mortgage at all!
Can anyone give me advice on how this process will need to be started??
many thanks!
0
Comments
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She will need to approach the lender concerned and establish if she can afford the mortgage alone.
Unless there has been a major change in her circumstances, the reason she needed him to buy the property is likely to mean she cannot afford the mortgage alone now.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 -
jessie-may wrote: »however he bought a house with his sister last year as she could not get a mortgage alone.
Has their been a dramatic change in her financial circumstances?0
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