Get expert opinion. This is the place for new questions to be posted.
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sandee
- Posts: 30
- Joined: Tue Jul 24, 2012 7:18 pm
- Location: United Kingdom
when they say remortgage do they mean a new mortgage or do they mean equity release
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luluj
Forum Expert
- Posts: 11333
- Joined: Sun Dec 09, 2007 6:54 am
- Location: United Kingdom
Equity release i believe .... For specific case advice your IP is best sited to give you accurate advice.
Sharing from experiences of dealing with debt
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Look at my blog "All I wanted was a baby"
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sandee
- Posts: 30
- Joined: Tue Jul 24, 2012 7:18 pm
- Location: United Kingdom
oh dear I thought they meant a new mortgage thankyou for your reply
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grasshopper
- Posts: 6
- Joined: Fri Apr 26, 2013 5:12 pm
- Location:
it would be increasing your existing mortgage to raise the funds as detailed in your IVA proposal to a maximum of 85% LTV
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sandee
- Posts: 30
- Joined: Tue Jul 24, 2012 7:18 pm
- Location: United Kingdom
thanku but I don't have a mortgage and its joint owned b my partner. will have to ask ip I think
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ClareSilver
- Posts: 597
- Joined: Tue Jan 15, 2013 2:15 pm
- Location: United Kingdom
Is the mortgage in joint names? If so, it will only be your share of the equity not your partners.
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sandee
- Posts: 30
- Joined: Tue Jul 24, 2012 7:18 pm
- Location: United Kingdom
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ClareSilver
- Posts: 597
- Joined: Tue Jan 15, 2013 2:15 pm
- Location: United Kingdom
OK, so you own the property outright jointly with your partner? If this is the case, then you will need to apply for a mortgage for equity release (based on your share of the equity only).
