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Remortgaging and charges
Maxwoodard
Posts: 8 Forumite
Evening,
My mum is looking to remortgage her house so that she can give myself and other siblings some money that was tied up in the house from years ago. She’s a bit worried however that there’s a charge/bank debt secured against the house. If she does remortgage will that debt need to be paid immediately or on the sale of the house?
Thank you
My mum is looking to remortgage her house so that she can give myself and other siblings some money that was tied up in the house from years ago. She’s a bit worried however that there’s a charge/bank debt secured against the house. If she does remortgage will that debt need to be paid immediately or on the sale of the house?
Thank you
0
Comments
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A deed of postponement would allow a mortgage to be the first charge on the property and the current debt to come after it.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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