Call us on 0344 346 3672
or arrange a callback

If I own a house with my Ex, can I raise a mortgage on it ?

Posted on 4 June 2013 by Charlie


I co own a house with my ex and want to raise money on the equity I have in it without selling it. My equity value is approx. £400k.

Charlie,

Without knowing anything about your personal financial situation, the basic answer is 'maybe'. As long as you have the income and credit history to meet a lenders standard affordability criteria then you should be able to raise the money.

However, as this is a joint ownership you will need your ex's permission and signature to do this. Also if the funds are purely for your own opersonal usage then your ex will also need to take independent legal advice.

If you'd like to arrange to have an initial discussion to go through your enquiry in more detail, then please let me know and I'll sort a convenient time for you to talk to one of our consultants.

Regards,

Simon

simon.collins@johncharcol.co.uk

More than mortgages, talk to me about:
Financial Protection | Investments | Personal and Corporate Pensions | Home Insurance
General Insurance | Valuations | Conveyancing | Wills | Home finders

Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.


Legal

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.

John Charcol is a trading name of John Charcol Limited and its Appointed Representatives. John Charcol Limited is authorised and regulated by the Financial Conduct Authority. The Financial Services Register number is 665649. Registered in England No. 9157892. Registered office address for John Charcol Limited is 5th Floor, Cutlers Exchange, 123 Houndsditch, London, EC3A 7BU. The FCA does not regulate some investment mortgage contracts. Calls may be recorded for training and monitoring.