Remortgage quick question

Prestonion Posts: 16 Forumite

26 May 2018 at 9:27AM in Mortgages & endowments

I posted other day and there's on thing I just need to clear up

My relatives house is being transferred into mine and my wife's name with no mortgage attached.

Once it is in our name is there any rules about getting a mortgage on it to pay off the other beneficiarys. Or would it technically be a remortgage as we already own it?

And if the house is worth 180k and we get a mortgage on it for 120k, is the 60k difference used as a deposit? Which would give us a decent loan to value ratio?

Thanks again

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