First mortgage - buying my ex out

Water_Woman

Hello

we have a small terrace worth about 100k. The mortgage is in my ex's name only and owes 64k. My credit is not the best but I have just upgraded my bank account and been offered a credit card by my bank, Halifax, with no problem. I bring home 2.5k monthly and do not have any other massive outgoings. I am 55 years old and have a career that will never see me out of work. So, my questions to anyone who knows more than me (which will be everyone!)

How likely am I to get a mortgage? Will what is equity in the house be ok as a deposit? Am I best getting a broker?

thanks

WW

beecher2

Isn't your ex entitled to half of the equity? If so you'd need a mortgage of 82k.

What credit problems do you have?

bryanb

Who pays the mortgage? Who is "we"?