Mortgage Advice

Troony81

I want to buy my husband out of our jointly owned property as found out he has been cheating.  I would need to remortgage to release equity to do this.  Am I best speaking to my current lender directly or using a broker for a new deal?

simon_or

If you're currently on a fixed rate with a large ERC to pay to leave, then I'd first speak to the current bank about a transfer of equity. They will check affordability and then tell you if it's possible. You'll then end up with the exact same mortgage in your sole name. If they say it's not affordable, and you're willing to pay the ERC, I'd then go to a broker.

If you don't have any ERC or its small enough then I'd speak to a broker as the first step.

Before you do any of this, do remember that a transfer of equity requires the joint-owner's cooperation (signing documents etc) during conveyancing so do make sure you both are on the same page.