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Mortgage when separating
stevep82
Posts: 1 Newbie
Me and my other half have lived together now for around 5 years. 1.5 years has been with a mortgage on our house, and 3.5 was renting.
I am considering breaking up with her, so I want to know where I will stand with the house. Will the bank let me take over the mortgage entirely? Do you have to earn a certain amount to do that, can anyone please tell me exactly what happens?
I would personally like to keep the house, so is it a case of me buying her out, does the mortgage company buy her out, I literally have no idea on how this all works?
I am considering breaking up with her, so I want to know where I will stand with the house. Will the bank let me take over the mortgage entirely? Do you have to earn a certain amount to do that, can anyone please tell me exactly what happens?
I would personally like to keep the house, so is it a case of me buying her out, does the mortgage company buy her out, I literally have no idea on how this all works?
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Comments
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You would buy her out, assuming that there is equity in the property that is.
You need to earn enough to be able to satisfy the lenders criteria. Without knowing how much you earn and how much the mortgage is, wew can't say whether you do or not.
How much is your house worth and how much mortgage is outstanding?
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