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Separation and remortgaging
JTMill
Posts: 2
Newbie
My partner and I are parting ways (amicably) and I need to start planning for how we will deal with the home.
We've 1.5 years left on our fixed term. I can afford to buy them out if I use my savings and remortgage for a higher amount.
What is the normal process - is a transfer of equity done at the same time as a remortgage? World appreciate the benefit of experience.
We've 1.5 years left on our fixed term. I can afford to buy them out if I use my savings and remortgage for a higher amount.
What is the normal process - is a transfer of equity done at the same time as a remortgage? World appreciate the benefit of experience.
0
Comments
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Do you meet the affordability criteria for the new mortgage in your own right?
The release of equity will be dealt with concurrently when you remortgage into your sole name. .1 -
Thanks for your reply. Yes in principle I can borrow more than I need.
I wasn't sure if the transfer of equity was part of the remortgage process. Cheers!0
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