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Can I take over the mortgage??
loupott_2
Posts: 29 Forumite
Hi everyone, I hope someone can help please.
My partner and I split up last November. I am in the family home with my 2 children. Ex is in rented property. We have a 40k joint mortgage on the house which is in joint names. There is some equity in the house and Ex is looking to have his share, i don't want to sell the house in order to give him his equity. My family have offered to help me buy him out but i am wondering if i would be able to take on the existing mortgage with first direct. The only problem is that i have been a full time mom for the last 5 years and although I am starting work tomorrow, realise that i am unlikely to be eligible for a mortgage? The mortgage company aren't aware of the circumstances and i am worried about getting in touch to see if they would let me take over the mortgage in case they forclose....can anyone tell me when i may be able to get a mortgage in my own right and if i should be worried about contacting first direct please?
The house i guess is worth about 220k.
Many thanks, Louise.
My partner and I split up last November. I am in the family home with my 2 children. Ex is in rented property. We have a 40k joint mortgage on the house which is in joint names. There is some equity in the house and Ex is looking to have his share, i don't want to sell the house in order to give him his equity. My family have offered to help me buy him out but i am wondering if i would be able to take on the existing mortgage with first direct. The only problem is that i have been a full time mom for the last 5 years and although I am starting work tomorrow, realise that i am unlikely to be eligible for a mortgage? The mortgage company aren't aware of the circumstances and i am worried about getting in touch to see if they would let me take over the mortgage in case they forclose....can anyone tell me when i may be able to get a mortgage in my own right and if i should be worried about contacting first direct please?
The house i guess is worth about 220k.
Many thanks, Louise.
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Comments
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What is your annual income?"You were only supposed to blow the bl**dy doors off!!"0
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hi, £10700 approx.0
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