Remortgaging and removing name ...

2 Posts
Hi there
I'm looking to extend my mortgage in order to pay for home improvements. I'm in a fortunate position of only having a bit over 2 years left on my current mortgage. I want to extend the term on my mortgage (up to 5 years) rather than up my payments. I've been to my current provider to discuss it and they have agreed I can go ahead. However, I need to get my ex-husband's name off the current mortgage (about £350?) then effectively re mortgage, and borrow the money to pay off the current debt plus the extra I need for the extension. I'm wondering, if I go to another provider, could I remortgage with them, fee free, saving the money I would have paid out to get his name off? I'm sure there must be a way to save a bit of cash here, I just don't know the best option! Any advice would be appreciated :beer:
I'm looking to extend my mortgage in order to pay for home improvements. I'm in a fortunate position of only having a bit over 2 years left on my current mortgage. I want to extend the term on my mortgage (up to 5 years) rather than up my payments. I've been to my current provider to discuss it and they have agreed I can go ahead. However, I need to get my ex-husband's name off the current mortgage (about £350?) then effectively re mortgage, and borrow the money to pay off the current debt plus the extra I need for the extension. I'm wondering, if I go to another provider, could I remortgage with them, fee free, saving the money I would have paid out to get his name off? I'm sure there must be a way to save a bit of cash here, I just don't know the best option! Any advice would be appreciated :beer:
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The £350 fee you mention is probably to remove him from the title held by the land registry.
In which case you'll need to borrow more than you envisaged. Is it affordable over a 5 year term.
So, just for clarity, although your husbands name is currently on the mortgage, you've already had his name taken off the LR entry, which now just shows you as sole owner?
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