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Re-mortgage
LochNessNomster
Posts: 1 Newbie
Hello,
I currently own my home outright (~£140k) and I'm looking to start flight training. The course is full-time and I would be unable to work during training, making it impossible to obtain a secured loan on the house. The course fees plus living expenses for the year come to £75k.
I'm now investigating re-mortgage as a potential option. Would it be possible to mortgage half the house in my partner's name and sign over half equity? The deeds are in my name only, and the mortgage would have to be in his name (he is in full-time employment).
Many thanks for any insight you can offer.
I currently own my home outright (~£140k) and I'm looking to start flight training. The course is full-time and I would be unable to work during training, making it impossible to obtain a secured loan on the house. The course fees plus living expenses for the year come to £75k.
I'm now investigating re-mortgage as a potential option. Would it be possible to mortgage half the house in my partner's name and sign over half equity? The deeds are in my name only, and the mortgage would have to be in his name (he is in full-time employment).
Many thanks for any insight you can offer.
0
Comments
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How would the bank repossess half a house? You'd probably need to do it in joint names (or you transfer the whole thing into his name).0
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