Remortgaging advice

[ArianaRose]

My dad is a guarantor for a mortgage I got back in 2006 due to me being a temp. I pay the mortgage and the bills not now I want to move from one lender to another and also add to my current mortgage which financially I am able to do without him being guarantor.

So with the new lender can I make the application just myself. They wouldn’t really be able to speak to my dad as he is in a nursing home and has dementia.

Any ideas.

Yes.

Your application is based on the circumstances that are current, not the position you were in 20 years ago. If you move lender, you are effectively borrowing the whole of the new amount (so what you still owe to the previous lender, plus the extra you want to borrow) from the new Lender. They decide if you are a risk you want to take on, and effectively pay the money you still owe to the original lender and give your the extra you now require, so you now owe everything to the new Lender.

I personally would suggest you talk to an independent mortgage advisor. Throughout all my decades of moving my mortgage about, advisors have ALWAYS been able to get me a better rate than I have been able to find for myself.