29
Jan
2016
A question about : Title Deeds remortgage
I am having a bit of bother trying to get additional borrowing on my mortgage for home improvements due to a default I got 2 years ago for Ј450 that I cleared immediately.
I currently am the sole owner on the mortgage and title deeds etc, current mortgage of 110000 and property value of 190000
I want to borrow 15000
Anyway I have been declined by Halifax and was wondering if I added my partner onto the title deeds and mortgage would that improve my chances of getting the remortgage?
How do I put him on?
Also should I just give up?? no one will look at me because of my default??
Thanks In advance
Best answers:
- The default may be a contributory factor not the only factor resulting in a decline. May be worth your while speaking to a broker and letting them review your circumstances.
Adding another person is certainly helpful.
What is the purpose of the equity withdrawl? - Hi thanks for your reply,
the purpose is for home improvements, we are moving the stairs to a better location, increasing the kitchen to make it dining kitchen and creating 4th bedroom.
do you know how I would go about adding him onto the mortgage does he have to be on the titles - bump bump bump
- Your better option may be to keep your current mortgage and borrow an extra Ј15,000 from an alternate lender.
Adding your partner does not make your default go away.
Consult a mortgage broker to resolve this.
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