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Remortgaging after separation
GlossyMatt
Posts: 7 Forumite
Hi all, I've posted before and had great replies, but then promptly buried my head in the sand and pretended things weren't happening ! My wife left me in Sept 2009, we have a joint mortgage, no children. Since Sept 2009 I've been paying the mortgage and Insurances myself but now my wife wants her half of the equity of the house. I haven't had the house valued yet but I reckon she could probably be after around £40k if I assume equity of £80k. This I need to sort so I can get on with my own life again, BUT what's the best way to raise the capital?... remortgage with additional £40k? or leave my current mortgage alone and have a separate interest only £40k mortgage? Should add that both my parents have recently passed and I have a third share in their property now with my Brother and Sister. Can I start a £40k interest only mortgage now to pay my wife off and use proceeds from my parents house when it's ready to sell? thanks all.
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