Help please!!

gups

Hi

I am hoping someone is going to be able to point me in the right direction.

My husband and I have just separated and I would like to keep our house and get a mortgage on my own the thing is with my income I am coming up short. I have spoken to our bank today which was a complete waste of time and they were very unhelpful which has knocked my confidence.

Does anyone have any ideas or avenues I can go down to try and get the mortgage I need. I need some good tips and advice on what to do.

Many thanks for your help!

beecher2

You need to post details of your salary, the value of the house and the outstanding mortgage. If your salary isn't enough, do you have someone who could come onto the mortgage with you?

Rikki

If there is equity in the property you may have to add 50% of this to your mortgage requirement to buy your husband out.

Many mortgage companies will not remove a name from a mortgage so you may have to look for a new mortgage. The criteria for mortgages is quite tough at the moment too.
I am in this position my mortgage company won't remove my ex even though we have been divorced for over twelve years and I have always paid the mortgage during this time.

gups

my salary is 25000 the value of the house is 175000 and the mortgage is 144000. I don't have anyone I was hoping my parents could do something but they are too old and the mortgage repayment will have to be reduced to 15years which will double what i am paying.

on a monthly basis i can afford all my payments so i wouldn't go into arrears i just need someone to give me a break!

gups

I don't need to buy my husband out

beecher2

Nearly 6 times salary isn't going to happen I'm afraid. You need a new option - selling up and downsizing?