help needed, split with partner, how to take over mortgage myself

bricabracbettie

Hi, would appreciate any advice anyone can offer. I bought a flat a year ago with my partner, we have recently split. We have a five year fixed mortgage which we have amicably agreed if I am able to I will pay back what he has put into the house and take over the mortgage myself. I have looked into loans to pay him back, and think I could afford this and the monthly repayments on the mortgage although based on my single salary am worried the bank will not allow me to do this. I am considering a lodger aswell although am not sure this would make a difference to the bank. The only other solution I can think of is if I can transfer the mortgage into one of my parents names but am unsure this is something again the bank would do. Any suggestions what I can do to keep the flat would be greatly appreciated. Thanks

getmore4less

Start with the mortgage

How big is it and what is your income and what is the value of the place.

bricabracbettie

thanks for replying mortgage is for £72000, value of property £80000, took mortgage out last year over 25 years. Income is £11000.

JA1000

Bank are unlikely to agrees 6.5 times, but they might with a guarantor, knock knock on your parents door could be the easy way out.