Help please if possible?

sukysue

Hello everyone, I am here on behalf of a very dear friend who is in the awful position of getting divorced.( He is a serial adulterer.)Anyway apart from all that he has given her the full equity in the house worth about 50k but she has a mortgage for 118,000 . She only earns 13 k and has no hope of gettinga mortgage for anything near this figure. However her mum has a property that she could raise a mortgage on worth around 100k . Is there anything she can do? If she doesn't take his offer she will have to take his offer of 50/50 and share the pensions. She wouldn't have his pension for this offer. Also he is only paying the interest on the mortgage and the C & G have said when the year is up they don't know if they will allow this to go on yet it depends on his finances. I don't know where to turn for her she is really up **** street with no where to go.Thanks for any help in advance.It's all so confusing and hopeless.

Simon_gloster

How much is left on her mums mortgage as generly she will only be able to lend up to 80% of the properties value.

Your friend will be lucky to get a mortgage of £40k at the moment. If somehow she was able to get that amount, the existing interest only mortgage wont be allowed unless she has proof in place to pay it back in the future. The sale of it and downsizing is not acceptable by the way. Failing ro provide evidence will mean repayment only.

C&G are going even harder on existing int only borrowers very very very soon