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Re mortgaging a shared ownership property
SDMEETEN
Posts: 1 Newbie
Does anyone know of a lender that will allow me to remortgage a shared ownership property of which I have a 50% share. The property is valued at £180000 and I have a mortgage of £29000 and wishh to borrow another 27k to clear my debts but there do not seem to be any lenders apart from a few that seem dody around, Any clues anyone ???
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Comments
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Why not try your existing lender first. i would suggest making clear that the extra money is to clear existing debts rather than add to your total borrowing.
Are you sure this is the way forward, remember that increasing your secured lending puts your home at risk if you can't afford the repayments....I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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