Remortgage & Transfer Of Equity - Help Please?

Question

My partner is currently remortgaging our house to enable him to pay me half of my share of the equity as we are going our seperate ways.

I just wondered if anyone knows:-

a) How long does it take for the remortgage?

b) Once an offer is made of a mortgage, how long for the transfer of equity and legal side to be finalised.

My partner has the mortgage offer and now it is in solicitors hands for the transfer of equity and legal side, any idea's how long this may take?????

Answer 1

Should not take longer than 1 month if you are in Australia. There are no complications here as it is only a transfer to an existing part owner. The problem is him getting the mortgage and since he already has been offered it should all be smooth sailing. I hope you will be able to buy your own with your equity portion. Sad times I'm sure. All the best anyway.