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Taking partner off mortgage
barringtons
Posts: 22 Forumite
Hi
A fair few years ago I had some money issues which are now sorted but upon trying to remortgage my home to get an improved rate it has come up that my partner has an outstanding default that should have come off years ago as was settled on our bankruptcy nearly nine years ago which discharged within six months, my financial advisor has advised that I apply for my new mortgage as a sole applicant and then add my partner when the issue gets sorted to take advantage of a vastly improved rate. My partner is now concerned that this could be classed as fraud, does she have a point please could anyone advise
A fair few years ago I had some money issues which are now sorted but upon trying to remortgage my home to get an improved rate it has come up that my partner has an outstanding default that should have come off years ago as was settled on our bankruptcy nearly nine years ago which discharged within six months, my financial advisor has advised that I apply for my new mortgage as a sole applicant and then add my partner when the issue gets sorted to take advantage of a vastly improved rate. My partner is now concerned that this could be classed as fraud, does she have a point please could anyone advise
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Comments
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Not all lenders will accept a single application for a married couple where you currently both own the property.
You will also have to pay for a transfer of equity to remove your husband and then a transfer of equity to add him again. It might be worth holding fire a month or 2 to get it sorted before proceeding.
A ToE can cost maybe £200-300 so £400-600 in total.I am a Mortgage AdviserYou 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.0
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