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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