I'm hoping to go this route very soon.
I have an old form from DCC ( will be looking for more up to date info from them soon) which states a fee of 634.87 payable to DCC. This covers legal fees etc etc.
i don't understand that part. you're not selling the house so why would you have to buy out the clawback? did they explain this part?I have to also buy out the clawback
Much as I'd love to get rid of the claw back and buy out the shared ownership in one foul swoop I don't think I have the means nor the ability to pay back what I can only imagine to be a much higher monthly bill.
My understanding of a "remortgage" is that it is a process of moving your mortgage loan from one company and/ or product to another.
As this is not the case here i.e. loan stays with the same company, why would the clawback kick in? it's still the same mortgage, same lender, same person paying the mortgage, just with a larger input (money paid in).
Very interested to hear about the 99%mortgage 1% rent idea though. My house would be in negative equity, albeit probably not that much. How would I go about changing from 50/50 to 99/1?
Mine went down because they also extended the term of the loan. I didn't ask them to do this, they just did.Also can anyone who has actually done it tell me was there much difference on your monthly repayments?
Thanks for the reply Brooklyn. Will definately ring them during the week. How much roughly would the cost of changing over to a full mortgage do you know offhand?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?