Can we get another mortgage???

laurajs_2

Hi,

We are in a very difficult situation where my partner is on another mortgage with his dad, however now he would like to move out so we can get our own house.

We spoke to the mortgage provider and they wont realese my partner as his dad wages do not cover the mortgage.

The loan is £180,000 and they are not going to sell up to release my partner either. So we are stuck as to where we can go as we would really like to find a house of our own, and dont want to rent.

Are there any mortgage providers out there who could help us??

Our wages are 25,000 and 12,000 my partners being the larger income.

Is there any way of getting another mortgage, we have 24,000 deposit also.

Any help would be great!!!

Thanks

_Andy_

Depends how much you want/need to borrow but you're going to struggle as your partner's existing mortgage will be taken as a commitment.

laurajs_2

We would like to borrow about 130'000

thanks

Thrugelmir

Maybe buy a new property together with your FIL. Your partner must have known the long term committment he was making when he entered the arrangement initially. So why not continue it ?

laurajs_2

Yea he did but situations have changed since then, could I ask what is FIL?

Wutang_2

I think it stands for Financial Investment Leprechaun, I may be wrong.

_Andy_

You are wrong Wutang - everyone know it stands for Farting In Lifts.

What does ET stand for?
Because he hasn't got a chair.

What's ET short for?
'Cos he's got little legs.

beecher2

You're not going to get 3.5 salary when your partner is named in a £180,000 mortgage - just isn't going to happen. Renting is your only option unless you can find someone else willing to take your partner's place on the mortgage, or maybe a guarantor is possible?

How long is the term of the mortgage?>

edit: FIL in father in law

Wutang_2

beecher2 wrote: »

edit: FIL in father in law

Nope - its the Leprechaun

laurajs_2

Minimum of 22 years left

jockosjungle

A cheap house based on your salary alone?

R