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Shared Equity scheme
Anonymous_lady1
Posts: 1 Newbie
Hello everyone 😊
Over 10yrs ago I took out a mortgage with the government shared equity scheme. I am now starting to pay interest on the loan from the government. Im wanting to know if my credit rating is OK, whether a remortgage is an option or take out a loan to own the remaining 30% I do have additional debts. Any helpful advice would be appreciated.
Over 10yrs ago I took out a mortgage with the government shared equity scheme. I am now starting to pay interest on the loan from the government. Im wanting to know if my credit rating is OK, whether a remortgage is an option or take out a loan to own the remaining 30% I do have additional debts. Any helpful advice would be appreciated.
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Comments
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@Anonymous_lady1 In principle, lenders do offer capital raise remortgages for the purpose of paying off equity loans.
Whether it is a realistic option for you or not will depend on the specifics, the numbers and your whole scenario. I'm afraid there isn't enough information in your post to say either way.I am a Mortgage Adviser - You 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.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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