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Some advice please from someone in the know!
masonsmum
Posts: 855 Forumite
My husband and I have decided to seperate after only last year buying a house worth £82,000 however with our deposit we only have a mortgage for £59,000.
I am in the process of trying to work out ways in which I could afford to stay in the house so as my son is in his own home. How do these things work as mortgage is in husbands name so I presume I would need to buy him out??
Also a family member mentioned something about a deal with the bank where as you own so much and then they own so much so as your mortgage payments are lower.
Sorry not really up to speed on these things so any useful advice would be great, thanks in advance.
I am in the process of trying to work out ways in which I could afford to stay in the house so as my son is in his own home. How do these things work as mortgage is in husbands name so I presume I would need to buy him out??
Also a family member mentioned something about a deal with the bank where as you own so much and then they own so much so as your mortgage payments are lower.
Sorry not really up to speed on these things so any useful advice would be great, thanks in advance.
0
Comments
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Have you sort legal advice at all as you are married and have a son then you may be allowed to stay in the property as part of a divorce settlement. Get advice first
Then Are you working? What sort of income? What sort of settlement is your husband expecting? I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
For you to buy him out your income and status needs to be commensurate with lender criteria.0
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