MelanieGiles wrote:
I think that I am correct in saying that the only way you can remortgage is if you buy out the shared ownership element as well - Tony is this correct?
If so, you are likely to be taking on a much higher mortgage commitment, and should make sure that this is completely affordable, with some leeway if interest rates go up in the future.
Hi, thanks for the reply. The intention was to remortgage the share we have, and use the equity to buy my husband out. The house had been included in the IVA, but as they are aware its shared ownership did say at the end of the agreement that we wouldn`t have to remortgage like they usually require.
I`m confused as to what we can and can`t do, the IVA is holding things up with regards to a normal house / mortgage transfer, as no one is interested in helping us out! Do you think its better to ask the IP his advice then seek financial advice regarding a mortgage if he agrees to the remortgage under my new partners name?
Thanks