Divorcing - Advice Needed

BoshBosh

Hi. Hoping someone might be able to give me some advice. For the last 3 years my husband and I have been separated. We are now going through a divorce. We have 3 children, the youngest being 4 has learning disabilities and I have applied for DLA and I am currently on Income Support. As part of our maintenance agreement for the last 3 years, my husband has been paying the mortgage. Both the property and mortgage are in my husband's name. Our house is valued at £250k with a mortgage of £100K. It has come to light that while my husband has been making regular payments into the off-set mortgage, he has also taken out over £6K. I do not want my husband to have a charge on the house, nor for him to be on the mortgage.
My brother has very generously offered to pay my husband a cash lump sum for his share of the house, so that the house can be transferred into my name only. However, how do I get a mortgage? My brother is willing to be a guarantee, but he lives in Sweden, though he does have a UK bank account and is the director of a UK based company. My parent's own a property in the UK outright , but both are over 70. My Benefits Advisor has told me that I qualify for help with my mortgage interest payments and my solicitor has said I will have a court order for maintenance that will cover the mortgage payments. Yet the mortgage companies I have spoken to so far seem unwilling to help. Any advice will be much appreciated, as I want a "clean break" from my husband and have a secure home for myself and the children.

NAR

I think the main reason the mortgage companies won't touch you is because maintenance is not guaranteed because your ex's circumstances could change and maintenance reduce to nearly zero (if he became unemployed).

Presumably you are looking to get a mortgage of about £50k? Could your brother fund this also and you pay him back? Or give him a £50k share of the property.

BoshBosh

I can see that maintenance might not be guaranteed, but if I were working and got a salary, that wouldn't be guaranteed either, so I don't see the difference.
I would still be needing a mortgage of £100K, as my husband will not be paying off the other £50K. My brother was going to remortgage to get the lump sum to pay off my husband, unlikely to be able to borrow a further £100K to pay off my mortgage.

Simon_gloster

The current mortgage is in sole names, anyone, brother and you taking it on would be buying it, therefore fees, stamp duty etc.

As your guarantor is abroad most lenders will not accept this. Put him on as an applicant then he is treated as an expat.

This will be a lot of hard work for someone should you go through a broker.


Husband and yourself need to work out uow much he wants £100k plus and then see if someone will lend.

If you go down the guarantor route then only the guarantees circumstances will be taken into account. Im 99.999999999% sure guarantors need to be permenant uk residents.