We can accept remortgage applications where there is a transfer of equity.
Additional checks by our underwriters and the solicitors will be required, along with the person being removed to confirm that they will no longer have any financial interest in the property.
If additional borrowing is requested, it must be dealt with as a new application, else allowed, subject to:
- Married / Civil Partnerships:
- Copy of decree nisi/conditional order, or decree absolute/final order
- Details of the court approved financial agreement
- Full credit and affordability assessment as current criteria
- The individual to be removed must confirm that they will no longer have any financial interest in the property
- Solvency/Bankruptcy
- We will require Independent legal advice for the party to be removed from the mortgage – an acceptable legally binding waiver to this is acceptable at the conveyancer’s own risk