Remortgage

I need to remortage our house.
i deal with PTSB and had given them all the inforamtion that they needed and they were going to go ahead with it just based on my income and my husband was just on name olny when they when to do a credit check it turns out that he has a black mark against his credit history so the will not approve it with his name on the deeds .They will however aprove the mortage if the property is in my sole name.But as it is a family home the house cannot be in my name,it has to be joint.

The current value of the house €220,000 and the ammount i am looking for is €75000. we have no mortage on the property at the moment

Is it worth going to other banks or have i any home is there any way around this.

Re: Remortage

The black mark will result in a decline from the prime lenders. If you desperately need the money then you could go the sub prime route but I underline the word desperately as the rates are extremely high.

Re: Remortage

Thanks for that that is what i was afraid of. going to see a mortage broker on wednesday so will see what he say's.
what i can;t understand is that it will be me that is paying it back and they are olny taking in my wages in to conserdation why is he brought in toit

Re: Remortage

Dymo... why do you need the re-mortgage? Are you re-mortgaging to get more cash for an upgrade or something,,,If yes, then why not just go for a home improvement loan in your own name.. some banks give home improvement loans at same rate as the mortgage rate.

Re: Remortage

Hi Dymo

It is incorrect to say that the house must be in joint names just because it is a family home. A family home may be held in the name of one spouse only. The other non- owning spouse will have to consent to the mortgage and sign a Deed of Confirmation (which means that if the non-owning spouse is deemed to acquire an interest in the property by virtue of direct or indirect contributions towards the mortgage, that he waives this interest in favour of the bank). A Deed of Confirmation is incorp. into most mortgage deeds.

You can therefore resolve the problem by having the house transferred into your sole name.Check with your lender first that this will resolve the issue.

Cork Boy

Thanks very much for your help Corkboy this is what i wanted to do but our solicitor would not let us do it he told us it could not be done dont kknow for whatever reason he had.

Will look into the home improvemt loan