Taking mortgage over on my own?

aerofine

I am going through divorce. I want to keep the house. My mortgage advisor has told me that the best way to prove I can pay for the house is to prove I have been doing for 6 months. I am half way through. My wage is just over £21k and the mortgage outstanding is just under £88k. I have calculated online using the Nationwide calculator and it states that they would lend me £92700. So based on this info should I not have any issues taking the mortgage on in my name solely?

Jimbo1976

In theory yes, in practice there will be other factors such as commitments.

Do you have any other debts or fixed commitments other than the mortgage.

will you need to increase the mortgage to buy out your former partner?

Wh05apk

If the calculator takes into account commitments, children, age etc, then you should be fine.

Are you tied into Nationwide? other lenders may be more generous.

aerofine

I'm tied to Nationwide for another year. I won't be taking any further borrowing at this time, as I have cash to pay off ex. I have credit cards but there isn't much on them (£30 and £40) and I pay them off every month, without incurring any interest charges. No children, no other debts apart from my student loan which will be paid of by December.

koexelek

aerofine wrote: »

I'm tied to Nationwide for another year. I won't be taking any further borrowing at this time, as I have cash to pay off ex. I have credit cards but there isn't much on them (£30 and £40) and I pay them off every month, without incurring any interest charges. No children, no other debts apart from my student loan which will be paid of by December.

You should be OK to borrow what you want with Nationwide then. Dependent children are the killer when it comes to affordability