Joint Mortgage / Remortgage
Joint Mortgages are also called a ‘joint equity mortgage’. A joint mortgage is when there are 2 or more people who will take out the mortgage and will be responsible for the repayments. Everyone in the joint mortgage will need to have their credit checked. The lender is not concerned about how much each person pays as long as they all pay the amount required.
If the joint mortgage is to be terminated then you must look at the records to see the proportions in which the remaining equity should be split. If any of the joint owners are unable to keep up the payments, then alternative arrangements must be made.
With Go Remortgage, you have the peace of mind of an experienced broker who has dealt with thousands of cases before. We know how to best advise our customers no matter what their situation. Why not contact us for free no obligation advice.
Joint remortgages are best for couples who own the property as a joint tenancy agreement and each partner has a steady income to contribute to the monthly repayments. A joint remortgage could be risky if one borrower has bad credit or defaults on the repayment.
