How to remortgage your shared ownership home
What Is Remortgaging?
Remortgaging is where you take out a new mortgage on a property you already own - either to replace your existing mortgage, or to borrow money against your property.
Can I Remortgage My Shared Ownership Property?
Should you wish to re-mortgage your home you will need to contact emh so that we can issue a consent to the new mortgage, which is a requirement within your lease.
We will ask you to supply us with the Mortgage lenders details, a copy of the valuation for the property, a redemption figure for your current mortgage and the reason why you are re-mortgaging.
We will also need to see a final copy of your mortgage offer to issue our Consent to Mortgage.
If you are re-mortgaging to transfer the property into your sole name and remove an ex partner we will also need to know if you are adding an extra amount onto the existing mortgage balance to cover the amount of equity that you have agreed to pay them.
There is a fee of £150 payable to cover administration of the re-mortgage.
Please contact a member of our team for more information e: email@example.com / t: 0300 123 0918