Hi,
Our current mortgage deal is about to expire (Alliance & Leicester) and we wish to move to Nationwide. We have already secured a deal (5.19% fixed for
2 years) by submitting a cheque covering the setup fees.Our problem is that our mortgage is a guarantor type mortgage (I'm the guarantor for my wife). When we bought our house (1999 - mortgage via Alliance and Leicester) we were advised to go down this route (long story) and at the time we were not married. We bought the house in 1999 and a year later we got married (did not change the mortgage). In 2002, we the mortgage deal expired and we stayed with the A&L and got another deal (still under guarantor type mortgage). We now wish to move away from the guarantor type mortgage and have both our names on the mortgage. Are there are stamp duties or tax to pay if we do this...
Mortgage in 1999 was 71,000
House price in 1999 was 109.000
Mortgage now is 62,000
House price now approx 260,000
Thanks,
John