New mortgage or remortgage?

suejam4280

Hi, I need to pay my ex half of the house. The house was paid off a couple of years ago, he moved out. Do I go for a new mortgage or is it a remortgage? There’s no money left owing for it but I’m already living in it. 

Thank you

Flugelhorn

did you get the mortgage company taken off the register etc? if so it is a mortgage, I  did it once, borrowing against a house bought for cash - was quite straightforward -

suejam4280

Hi,  sorry, I don’t know. We finished paying the mortgage back in 2019. I didn’t do anything. They said it was paid and stopped the direct debit. I didn’t do anything. I didn’t know I was meant to

Flugelhorn

expect it would get sorted when you took out a new mortgage, there would have to be a solicitor involved they would take the old charge off and add the new one to the register 

housebuyer143

It's a remortgage. When I got a mortgage on my mortgage free house that's what they called it. They tend to only do purchase or remortgage and it's not a purchase.

You don't have to do anything when you pay it off, the company will remove the charge at the land registry - you don't need a solicitor. 

amnblog

You do need a Solicitor and when you approach a Lender (or Broker) you need a re-mortgage of an unencumbered property.