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Hello everyone - first post for a LONG time!!

Can't believe that I am close to month 54 - so close in fact that I have just sorted by redemption statement and had a valuation on the house.

It looks promising - house valued at £165k, outstanding mortgage of £138k. Using the 85% LTV it comes out at £140k. which means, even split between Mrs DK and I, that I do not have the equity.

Now for the question - do I have to go through the exercise of getting two rejection letters for remortgaging? I assume that as I have not hit the equity threshold I don't have to bother?

Thanks again. Six month to go!!

DK

The fact that there is insufficient equity to release means there needs to be no attempt to do so. You would only need to try and release equity if you could raise a minimum of £5,000 which in your case is not possible even together never mind each. Send in the valuation and mortgage statement and you should receive confirmation quickly that there is nothing left to be done. Any problems and let me know.

Mr Peoples, as always you are a scholar and a gentleman!

Thanks for your help!

Pleasure DK.