We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Remortgage?
Options
T89
Posts: 1 Newbie
Hi,
Can anyone advise me on this issue, please!
My boyfriend and I want to move in together, he owns half the house with his dad. His dad wants £60,000 for his half (the house is worth £120,000). My boyfriend has £33,000 left on his mortgage over 12yrs. We have got an appointment with HIS bank next week seeking the extra £60,000. I don't know whether he can get it on his mortgage or whether we get one together (to which this is my first time mortgage).
We tried to get one with a different building society last year but was rejected. I have sufficent savings (£7000 +) but I am an agency Lecturer to which I'm on a long term contract with my company. The added twist is that we are due to have a baby in 10weeks. If we sell the house, my boyfriend will lose a lot of money and renting is tooo much (more than the mortgage and bills).
What do we need to be aware of so we can get a remortage or how to better our chances? I just want to be prepared.
Many thanks!
Can anyone advise me on this issue, please!
My boyfriend and I want to move in together, he owns half the house with his dad. His dad wants £60,000 for his half (the house is worth £120,000). My boyfriend has £33,000 left on his mortgage over 12yrs. We have got an appointment with HIS bank next week seeking the extra £60,000. I don't know whether he can get it on his mortgage or whether we get one together (to which this is my first time mortgage).
We tried to get one with a different building society last year but was rejected. I have sufficent savings (£7000 +) but I am an agency Lecturer to which I'm on a long term contract with my company. The added twist is that we are due to have a baby in 10weeks. If we sell the house, my boyfriend will lose a lot of money and renting is tooo much (more than the mortgage and bills).
What do we need to be aware of so we can get a remortage or how to better our chances? I just want to be prepared.
Many thanks!
0
Comments
-
Don't waste your time approaching a bank. Get a good broker instructed and let them identify a suitable solution for you. You have a few quirks with your application which need to be taken into account.I am a Mortgage Broker.
You should note that this site doesn't check my status as a Mortgage Broker, 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 advice0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards