Virgin Money change of parties request

Moll27 · 17 October 2019 at 1:13PM

Myself and my now ex partner have a mortgage with Virgin since Feb 2018. Both our names are on it, but I now want mine off it cos we've split up and I'm moving out. I'm scrambling to find the money to put the request through (they want £175 admin fee plus there's whatever a solicitor will charge) but I'm wondering what the likelihood is of them accepting our request? Is it just a matter of them deciding if the other party can afford it on their own? Has anyone got any experience with this?

Thanks

[Deleted User] · 17 October 2019 at 2:04PM

If you are on standard variable rate you might be able to move to a new lender and use their cashback to cover the fees involved.

Otherwise if you stay with Virgin you will be expected to pass their affordability assesment on your own. Go to their website and put your numbers in here: https://uk.virginmoney.com/mortgages/tools/mortgage-calculator/input/65e02039-996a-4605-8815-e0524f7e3348

If you pass then you just need to pass the credit check. If you fail then you may need to find a new lender who will lend enough

AnotherJoe · 17 October 2019 at 6:42PM

Deleted_User wrote: »

If you are on standard variable rate you might be able to move to a new lender and use their cashback to cover the fees involved.

Otherwise if you stay with Virgin you will be expected to pass their affordability assesment on your own. Go to their website and put your numbers in here: https://uk.virginmoney.com/mortgages/tools/mortgage-calculator/input/65e02039-996a-4605-8815-e0524f7e3348

If you pass then you just need to pass the credit check. If you fail then you may need to find a new lender who will lend enough

The ex will need to prove affordability, not the OP.

OP what's the plan with the equity in the house ?

[Deleted User] · 17 October 2019 at 8:10PM

That'll teach me for reading every 2nd or 3rd word and filling in the blanks!

Read everything I wrote but pretend you are your ex and it will make perfect sense

Virgin Money change of parties request

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