We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
getting a mortgage with a DMP
riquelme
Posts: 304 Forumite
Hi everyone
looks like that my partner and i are going to get a divorce, we have 2 children and want to safeguard their feelings which means that my partner and i want to have 2 homes that they can call home.
At the moment i owe circa 17k on a DMP that is 18 months old and due to finish in approx 5 1/2 years. We own a house that is worth approximately £155k and owe around 30k.
If my partner was to buy me out which would allow me to pay off existing debts leaving me with about £40k, i earn around £1700 per month minus around £400 for which i would give my partner for maintenance. How likely is it that i would get a mortgage and what sort of house prices would i be looking at.
we are due to start making plans to see solicitor etc in next week or so
any advice gratefully received
looks like that my partner and i are going to get a divorce, we have 2 children and want to safeguard their feelings which means that my partner and i want to have 2 homes that they can call home.
At the moment i owe circa 17k on a DMP that is 18 months old and due to finish in approx 5 1/2 years. We own a house that is worth approximately £155k and owe around 30k.
If my partner was to buy me out which would allow me to pay off existing debts leaving me with about £40k, i earn around £1700 per month minus around £400 for which i would give my partner for maintenance. How likely is it that i would get a mortgage and what sort of house prices would i be looking at.
we are due to start making plans to see solicitor etc in next week or so
any advice gratefully received
0
Comments
-
As a very rough guide, perhaps 4 x annual BASIC income, after deducting the annual cost of and credit commitments and maintenance.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards