Quick question which may seem dim but I'm trying to get up to speed before I see a solicitor

[christmasclean]

If I was to buy my husband out do I just take him off the deeds and get a loan/mortgage for said amount. Can it be added to my mortgage ? Or do I have to get a regular loan. Or do I have to remortgage the whole lot , the current mortgage and what I need to buy him out?

NB i'm not a legal bod but going through similar...
The names on the mortgage would surely go hand in hand with the deeds i.e. if he's going to be taken off the deeds, then he'd also be expected to be taken off the mortgage.

You can raise the finance presumably however you see fit, but you'll need the existing mortgage to be transferred into your sole name, so it may be cheaper to extend that at the same time. You'll need to talk to your mortgage provider to confirm they'd be content with it being in your sole name.

So I don't have to remortgage ? Or be approved for the current mortgage as a single? Is it just the ad on pay out amount that's approved ?

Is the current mortgage in your name only?

No joint but I pay it. I've just been on the mortgage calculator for Coventry there isn't a buy out your ex button or a existing mortgage payment button but there was this Total monthly loan repayments
Monthly payments for loans that will not be cleared upon completion of the mortgage.

per month
So I put in my monthly mortgage payment there ... ? I know I need to ask them, just trying to get some clarity before then

I had to reapply for the mortgage package we had again, but with only my details. I could only do this after ExH had confirmed he didn't want his 50% of the mortgage deal (it is an amazing product very cheap for what it is.

Then ExH had to write that he no longer had any financial interest in the property to the solicitor to satisfy mortgage and to have land registry reregister as only me.

First step is to talk to your current mortgage provider to see what their procedure is and for them to run the affordability calculator to see if they would lend to just you.

Ok thankyou

You can apply for a transfer of equity with your existing mortgage lender. You can ask to increase the borrowing. If they agree, the mortgage account will be transferred when the property is conveyed into your sole name (you'll need a solicitor).
If they don't agree you'll have to apply for a new mortgage with a new lender.
You shouldn't do any if this without a consent order in the divorce.

What is a transfer of equity ?

Also if I just add the second oayment on without remortgaging the whole lot , reflecting the next 6 years of mortgage payments that will have come off my monthly payments will be no better than if I just lent the whole pay off amount now, surely. So am I just as well lending what I can to pay right off now ? What circumstances gain from paying some now some later. Sorry my brain is hurting