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Remortgage help needed

(6 Posts)
SpadesOfGlory Thu 30-Nov-17 18:46:40

I just got a letter from my mortgage lender saying that my fixed rate is due to expire. Apparently I now have a 74% LTV based on their valuation (bought at 90% LTV in may 2015.

My question is this... can I remortgage online myself if I took out the mortgage as a single person and have since got married? Or will they ask me if my circumstances have changed and I'll have to say yes?

I don't particularly fancy having to reapply and go through all that again just to add my husband to the mortgage. Affordability isn't an issue as my basic pay since has doubled and my DH has a good salary, it's just the hassle of it! We'll likely want to move house eventually and when that happens we would do a joint application no problem. I just want to fix the deal for another couple of years while our circumstances otherwise arent changing.

Any advice would be appreciated if you managed to read to the end!! smile

OutToGetYou Thu 30-Nov-17 18:49:06

You should have already told them you got marred, they need to know if someone other than you and them has a potential claim on the house, so you're probably already in breach of the terms.
So, no, you'll need to tell them. But that doesn't mean he needs to go on the mortgage. Phone and ask them?

SpadesOfGlory Thu 30-Nov-17 19:15:13

Thanks OutToGetYou

I phoned to make an overpayment a couple of months ago and used a card in my married name. I said my name had changed because I got married, they put me on hold, and then came back and said it was fine confused

I might let it roll onto the SVR as it's exactly the same as my current rate, to give me some time to look at all the options. Is my current lenders valuation likely to be accurate? Or would other lenders value the house differently?

OutToGetYou Thu 30-Nov-17 23:17:53

In my experience I tell them the house value, they do a desktop valuation and I've never had one come out differently that I can recall.

If they know you're married, it's fine. Call them and ask what deal they will offer. It's usually cheapest to go with the current provider, and less hassle, assuming they have a decent product.

IceniLacuna Thu 30-Nov-17 23:26:27

There is no obligation to put his name on the mortgage or deeds. You should be able to rearrange your deal to something cheaper than the SVR with very little difficulty.

In the event that you divorce, the fact that you have the house in your sole name will not protect it from being added to the pot that is split.

Notreallyhappy Thu 30-Nov-17 23:28:46

If you stay on the svr for now you may have less clauses, our fixed only allowed us to over pay by10% pa but when it expired we could pay as much as we liked... hence no more mortgage ☺

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