We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Adding partner who is first time buyer with life time isa and releasing equity
kevinb5555
Posts: 15 Forumite
Hi i will try explain this issue as clear as possible.
I have a partner who we have been living together for a while now in my home. I currently own the home we live in which currently has around 60K in equity. I want to add my new partner to the mortgage as we want be more serious and looking to try have our first child soon. My partner she currently have €10k in her life time isa which includes the bonus given from the government. So i understand by adding her to the mortgage without and underline legal agreement the equity will be split. However, i want to remortgage to release some equity as this way i can complete renovations on the house which are going be expensive and pay some loans so we can progress having a solid foundation for trying for a baby. Is it possible for my partner to use her life time isa by adding her to the mortgage while also i can release some equity to make it a much fairer ownership of the house?
Also who should i look to seek advice from on this matter from a professional point? such as mortgage advisor or financial advisor?
I have a partner who we have been living together for a while now in my home. I currently own the home we live in which currently has around 60K in equity. I want to add my new partner to the mortgage as we want be more serious and looking to try have our first child soon. My partner she currently have €10k in her life time isa which includes the bonus given from the government. So i understand by adding her to the mortgage without and underline legal agreement the equity will be split. However, i want to remortgage to release some equity as this way i can complete renovations on the house which are going be expensive and pay some loans so we can progress having a solid foundation for trying for a baby. Is it possible for my partner to use her life time isa by adding her to the mortgage while also i can release some equity to make it a much fairer ownership of the house?
Also who should i look to seek advice from on this matter from a professional point? such as mortgage advisor or financial advisor?
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards