Help please

Gay

My son partner has left him just after they signed for a new house. Santander has refused him a mortgage in his own name as his credit score is fair as he has no credit cards etc. As parents web are prepared to back his payment but I arm 59 and my husband is 60 we a re both in full time jobs and I have a Final salary pension although I don,t intend to stop working for at least 5 years.

He ca afford the repayments and has a lodger. Help is urgently required as partner is demanding house to be sold.

ACG

How much is his income (not including lodgings).
How much is the mortgage?
How much is the property valued at/purchased for?
How long ago was it purchased?

The problem here is there will be early repayment charges possibly, does the ex partner want any money? If there isnt enough collateral in the property then it might be difficult.

Personally i think your son might be best seeing a mortgage advisor as this could be quite difficult to sort out.

Gay

His income is £30000.00 the house was purchased for £186000 last June but they had a deposit plus I paid £1000.00 as advised by Santader. So the mortgage is £158.00 . We are going to take out extra on our mortgage to pay Partner off. They now have to pay Santader £3800 to get out of fixed mortgage.

It is a complete nightmare. The house is the only thing keeping him sane and they have two small children so the house is stability for them.