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Remortgage with partner


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Hi

I have a couple of questions. 

 

I brought my house last year under the voluntary right to buy scheme. I had to get a mortgage with a higher interest rate (7.1%) and a fixed rate for 5 years, this due to getting divorce and my ex-husband causing my some financial issues. I have asked for a settlement figure and will only be charged £110 to leave them. 

1. My partner is moving in can I apply for a remortgage and use his income, we don't want it to be a joint mortgage

2. Am I limited to who I can apply to because I brought under right to buy

 

Thank you

 

 

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Hi Louise,

On 3/21/2020 at 6:20 PM, louise_c said:

1. My partner is moving in can I apply for a remortgage and use his income, we don't want it to be a joint mortgage

You can only use his income, if he's on the mortgage. However, it doesn't necessarily mean that he has to be on the title deed and become an owner.

On 3/21/2020 at 6:20 PM, louise_c said:

2. Am I limited to who I can apply to because I brought under right to buy

Yes, you will be during the first 5 years of your ownership, i.e. during the pre-emption period.

As your lender options are limited due to your credit history, the property itself, Right to Buy pre-emption period and your preference for your partner not to be a co-owner, it's definitely a case for a broker, not for comparison websites or going direct to your bank...

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