Remortgaging within 1 year of ownership

gogoalshop

Hi all,

I’ve owned 50% of a property with my mum for several years and I’m now inheriting the other 50% from her. Will I have to wait the 1 year before remortgaging the property even though I already owned 50% of it?

[Deleted User]

You need to post on the mortgages board...

[Deleted User]

What do you mean 'the one year'?

Is that a specific time frame you have heard from somewhere or been told?

foxy-stoat

Deleted_User wrote: »

What do you mean 'the one year'?

Is that a specific time frame you have heard from somewhere or been told?

Maybe pub or internet talk.

[Deleted User]

foxy-stoat wrote: »

Maybe pub or internet talk.

Ive heard of 6 months as quite common and obviously most lenders dont like to remortgage before this point but never heard of 1 year before. Didnt know if this was a legal thing to do with taking over his mums share.

OP. Some lenders allow day1 remortgaging, 99% are fine after 6 months.

kingstreet

In the circumstances you describe I can't see any lender applying the six month rule.

FWIW you will already be on the Land Reg as proprietor so I'm not even sure how a lender would check.