am i likely to get accepted? DIRECT LINE

jaks101

Hi, basically me and my ex split and we have a mortgage together,

She wants to be removed from the mortgage we have with direct line RBS.
she does not want any money off me.

Here is my situation

I am a Police Officer at the start of my career and have only been in for 6 months and my salary at the moment is £25300 pa. This will rise every year as I go up the scales with my amount of service, and also cost of living increases (wouldn’t count on that, in the current climate though).

My mortgage is for £127000 and the house is worth £200000.

I'm on interest only or 0.23% with payments of only £26 per month and this has nearly 2 years to run then it would only be £200 per month when the deal ends providing the base rate stays the same.

I have no debt what so ever but do have an unused overdraft and credit card.

Do they just take into account the total amount I want to borrow by myself and my salary or do they look at affordability too. Will they take into account my pretty secure job and future pay rises as i have a pay scales sheet i can send them.

In your opinion are they likely to agree to remove her from the mortgage?

Any comments are greatly appreciated.

herbiesjp

They will look at income multiples/affordability based on your sole income.

The LTV is in your favour, however your current income would appear too low to get that level of borrowing.

beecher2

Selling up and buying somewhere cheaper would be an option, though you would lose the cheap deal you're on. Since your deal is so low you should be able to make substantial overpayments so maybe you could hold on for a year, overpay by £5k or more, and see how the salary multiples look then. Depends on what your ex says though - she may prefer that you sell up.

beecher2

I take it you're sharing an account with someone else?

http://forums.moneysavingexpert.com/showthread.html?t=2199923&highlight=

herbiesjp

That was confusing me as well.

jaks101

yeah, me and my new partner are both in a bit of a pickle at the moment, my ex is willing to sort things out and are quite ammicabe.
Her ex is a scum bag, I cant believe he is acting this way.