Hi there everyone - I received some fantastic advice before from Atilladahun which actually gave me the courage to tackle my first solicitor advice session, which went really well. I am now positive that I am doing the right thing and have a solicitor who is knowledgable and will look after me.
My next biggest stumbling block is the FMH which I would like to buy my X2B out of, raising a re-mortgage of approx £50K. I do not want to get a Mortgage that would tie me in ie penalties for early redemption, as I may wish to move 12-18 months time. I have heard of mortgages designed for those going through this kind of re-mortgage to buy ex partners out and wonder if anyone can give me some advice. If not specifically on this type of mortgage any good offers on at the moment.
Thanks in anticipation.
I'm afraid I don't know about mortgages for this specific scenario but I am with Nationwide and I was told that I can move my mortgage around with me if I move house rather than having to remortgage.
Thanks Ariesgirl. I have since carried out some research.
The FMH is mortgage free with a loan secured on it (balance approx £17k). I have been told that I need to either consolidate this with a re-mortgage or contact the lender to ascertain if they would consent to a Second Charge on the property (obviously they are First Charge lenders at the moment). I am trying to raise money to buy X2Bs share of the FMH, as yet no figure has been agreed, but want to get all my options ready now so as not to be dilly-dallying when it comes to the finalities!!
My X2B WILL NOT move out from the FMH until he has his money. Taking advice from Attilladahun I would like to have some sort of Mortgage Promise/Offer to tempt him to take and GO. I am finding it a very difficult situation at the moment with him being at the FMH, not least because he seems to be treating the whole thing as a game, and its him that has said he cannot live with me any longer and will be issuing divorce proceedings.
Thanks again anyways for your response.
Check the bestbuys mortgage section in the Sunday papers.....remortgaging to interest only can help for now....staying with the same BS is what all finance companies want.....a search of the full market is what u need to get the best deal poss with no tie ins, but IFA can be expensive......if you want to e-mail me your details I could search the market and point you in a direction.....absolutely free of charge as I resigned as FA this week!
Hi ginger ,
U have no mortgage....so the portability aspect does not refer to your mortgage ...only ur proprty....unfortunately u gonna pay thru the nose for the secured loan if u dont go sub prime....but that can be minimised to get u on ur feet...its a sxxx but a possibleone to step over n not thru....chin up