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Hi, thanks for your enquiry. Firstly, your Daughter's credit rating won't be adversely affected if she were to sell and not take out a new Mortgage at this time. As and when she is ready to buy again with her partner, Banks/B Societies will look at their joint income at that time, and provided neither of them have defaulted on any loans/credit card payments, they will be fine to apply and the fact that they do not have an existing Mortgage will make no difference. As regards ***** *****'s existing Mortgage, she will need to check if she is still on a special rate of interest- she may be on a fixed 3 year deal or a discounted 3 year deal. If so, there will be an Early Repayment Charge made if she were to sell before the end of the special deal (normally an additional 1% of the Mortgage amount). All Mortgages are different so only your Daughter will be able to find this out. If she is still tied in on a special deal, she may want to delay the Sale until this period has expired. Subject to this, the only charge the Bank will charge is a closing account fee of approximately £150-£250. I hope this assists and answers your question. If I have helped, please don't forget to rate my answer. Kind Regards Al
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Hi Pauline, if I have assisted in answering your question, I would be grateful if you could rate my answer, so I may get credited for my time. Kind Regards Al
Hi Pauline, if I have helped, I would be grateful if you could rate my answer. Kind Regards Al