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sorting out a messy mortgage

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Comments

  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    The mortgage co will probably treat it as a new mortgage application and apply their normal rules
    i.e. want at least 10% valuation to mortgage ..so if the house is worth 100k then they will probably only lend 90K
    and only give 3 x income
  • huwy123
    huwy123 Posts: 150 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Thanks for the advice.

    It sounds like no-one is going to be able to get off the mortgage. In which case do you think it's best for my GF to just tell the truth and say she lives elsewhere? Her and the ex-BF will have to stay on the mortgage until circumstances change (perhaps the new BF will want to take over - although they've only been together 6 months.).

    What I'm worried about it my misses getting into trouble for lying or the lender pulling the loan.
  • Robert_Sterling_3
    Robert_Sterling_3 Posts: 7,112 Forumite
    huwy123 wrote: »
    In which case do you think it's best for my GF to just tell the truth and say she lives elsewhere?
    Yes. If all else fails and as a last resort consider telling the truth. ;)
    ...............................I have put my clock back....... Kcolc ym
  • silvercar
    silvercar Posts: 49,934 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    Robert_Sterling wrote: »
    Yes. If all else fails and as a last resort consider telling the truth. ;)

    Best to be economical with the truth, something along the lines that your girlfriend now lives elsewhere.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
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