Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • CheethamThomas
    • By CheethamThomas 10th May 18, 9:42 PM
    • 2Posts
    • 0Thanks
    CheethamThomas
    Remortgaging HTB
    • #1
    • 10th May 18, 9:42 PM
    Remortgaging HTB 10th May 18 at 9:42 PM
    Hi

    Does anyone know when me and my partner come to remortgage if the value of our mortgage is 71k and we borrowed 20% HTB if the value of the property is 100k do we apply for a mortgage of 71k or 91k?

    Thanks
Page 1
    • amnblog
    • By amnblog 10th May 18, 10:30 PM
    • 10,827 Posts
    • 4,312 Thanks
    amnblog
    • #2
    • 10th May 18, 10:30 PM
    • #2
    • 10th May 18, 10:30 PM
    Not sure what the thrust of your question is here?

    If you want to buy out the Equity Loan, you do so at 20% of the value at the time. This is based on the valuer from a RICS valuer that you instruct and pay for.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • CheethamThomas
    • By CheethamThomas 11th May 18, 7:26 AM
    • 2 Posts
    • 0 Thanks
    CheethamThomas
    • #3
    • 11th May 18, 7:26 AM
    • #3
    • 11th May 18, 7:26 AM
    Sorry my question should have been if I don!!!8217;t want to pay back the HTB is the mortgage I apply for the remaining value at the end of this fixed term (which will be around 71k)

    Thanks
    • kingstreet
    • By kingstreet 11th May 18, 8:09 AM
    • 34,337 Posts
    • 18,651 Thanks
    kingstreet
    • #4
    • 11th May 18, 8:09 AM
    • #4
    • 11th May 18, 8:09 AM
    If you are not redeeming all or part of the HTB loan you can only remortgage the amount owing on your existing mortgage.

    You can't raise more, unless you are repaying HTB.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

4,051Posts Today

9,697Users online

Martin's Twitter
  • Major new guide... Brexit, what it means for you and your finances: M mortgages, savings, flights, consumer rights? https://t.co/SXCMG2qXwX

  • Have you haggled on the high street in the last year? If so who with and did you succeed? Please vote in this week? https://t.co/fdzmmFfA4u

  • Warning: Energy price comparisons are now WRONG due to the price cap - it needs fixing - my letter to Ofgem alerti? https://t.co/vE9IHyM58X

  • Follow Martin