Info/advice required RE coming off mortgage

Emmia

normalbloke said:

I think by today's market it's in negative equity by only a few thousand (3-4) for talking sake..
I would have thought that because I don't want to contest the house, not looking to be bought out , divorced, she's remarried, would make things relatively easier?

You may find you need to make up the negative equity (or at least a share of it) as part of the exiting process - either way though, you'll need to talk to your ex to find out whether they are able to release you (via a remortgaging process) and you'll need to get a solicitor involved as has been advised.

[Deleted User]

When I worked in Halifax we used to allow transfer of equity up to 120% ltv subject to new parties passing credit and affordability checks. Fee of £175 through lender and a couple hundred through solicitors.

The party coming off the mortgage had nothing do to apart from sign 1 form

Emmia

Deleted_User said:

When I worked in Halifax we used to allow transfer of equity up to 120% ltv subject to new parties passing credit and affordability checks. Fee of £175 through lender and a couple hundred through solicitors.

The party coming off the mortgage had nothing do to apart from sign 1 form

I think the days of those types of loans are probably long gone... 

[Deleted User]

The days of those loans were well gone when I worked there.  We just allowed transfer of equity yo be done within a certain tolerance of negative equity. 

Most lenders still have similar policies now. If someone is coming up to a rate renewal now and in negative equity, most lenders will still have a product for them.  I think barclays go to 115% ltv at the moment