Taking name off a mortgage

Loobysaver

My partner and I have separated and he has agreed to sign over the house to me. There is the mortgage to sort out but he says there is no rush on that as he is renting at the moment.

There is about £49k outstanding on the mortgage which is quite small for todays standards, however my Ex was the main breadwinner and i have very little income.

I earn about £5300 a year and receive £500 maintenance a month. Is there a chance I can get a mortgage on that. I have no payment history for the maintenance as it only started this month.

herbiesjp

Has the maintenance been agreed by a court/CSA?
Do you have anything in writing?

What is the value fo the property?

Do you have any other debts?
Do you have a good credit history?

Depending on what you answer above you could well find some lenders willing to agree the mortgage for you - however you would really need to look at the figures carefully to make sure you have the affordability (after taking into account your monthly expenses) and that by taking over the mortgage you would not end up in fininacial trouble

Loobysaver

herbiesjp wrote: »

Has the maintenance been agreed by a court/CSA?
Do you have anything in writing?

What is the value fo the property?

Do you have any other debts?
Do you have a good credit history?

Depending on what you answer above you could well find some lenders willing to agree the mortgage for you - however you would really need to look at the figures carefully to make sure you have the affordability (after taking into account your monthly expenses) and that by taking over the mortgage you would not end up in fininacial trouble

I have done my budget carefully and can manage on my own as I have been for the last couple of months.

The property is worth about £150K. I have a very good credit history and the only loan I have is £900 for a Sofa.

The maintenance is a private agreement, I expect I could get him to put it in writing if that helped.

herbiesjp

Well you might just about be able to get something agreed, but you need professional advice to point you in the right direction as this is a scenario that not many lenders will entertain, especially as the maintenance is not supported by court order/CSA

Have a word with a whole of market mortgage adviser and let them show you what could be on offer

Loobysaver

herbiesjp wrote: »

Well you might just about be able to get something agreed, but you need professional advice to point you in the right direction as this is a scenario that not many lenders will entertain, especially as the maintenance is not supported by court order/CSA

Have a word with a whole of market mortgage adviser and let them show you what could be on offer

I have phoned around a few lenders and basically they all say they would lend me the money if my maintenance was suported by a court order!

What on earth am I supposed to do now? I feel like I'm being penalised because I've got an amicable arrangement re: maintenance from my ex!:mad:


Herbiesjp - where do I find a whole of market mortgage adviser