Negative Equity - what options do I have?

Y45_AFC

Hello,

My fixed term finishes at the start of next year and I also need to remortgage to take my ex partners name of the mortgage.  I think my property has around £50k of negative equity due to a number of external factors and now concerned about what options i'm likely to have.  

There shouldn't be issues around affordability and I do have a reasonable amount of savings, around £20k, which I could offer to pay off some of the equity shortfall. 

What options am I likely to be offered by my lender?  Am I likely to at least get an SVR mortgage?

Many thanks in advance

silvercar

With negative equity, your only option will be to stay with your existing lender.

Whether your lender allows your ex's name to be taken off the mortgage depends on a number of factors, primarily your income and credit rating. I don't know whether the negative equity will impact the decision.

Normally if your deal ends, you automatically go onto the lenders SVR.