getting a mortgage with a DMP

riquelme

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

Conrad

As a very rough guide, perhaps 4 x annual BASIC income, after deducting the annual cost of and credit commitments and maintenance.