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Re-mortgaging alone?
Perfect10_2
Posts: 140 Forumite
Ok helpful mortgage people, need some idea of probability here..
Currently on a mortgage with ex husband on a property worth 130000, mortgage remaining 82000. I haven't lived in house for 5 years but he couldn't take me off as in a DMP. (not defaulted on mortgage luckily)
Now ex is remarried and I am fed up with being stuck in rented due to being tied to old house
My parents have offered to help me buy him out with 20000 to clear his debts as his share of equity.
He is considering agreeing to this as new wife wants a fresh start too.
So what are the chances of me getting a mortgage alone on the property?
Current income 12000 after tax, maintenance 3000 a year, and tax credits about 5000.
Maintenance is a private arrangement so no court order to prove it just bank statements showing his weekly payment into my account.
Parents will help by giving me some money as a lump sum to drop the current mortgage a bit but obviously I don't want to take all their savings.
Online How much could you borrow calculators seem to vary quite a bit from bank to bank.
Anyone think I have a chance of actually being able to do this??
Currently on a mortgage with ex husband on a property worth 130000, mortgage remaining 82000. I haven't lived in house for 5 years but he couldn't take me off as in a DMP. (not defaulted on mortgage luckily)
Now ex is remarried and I am fed up with being stuck in rented due to being tied to old house
My parents have offered to help me buy him out with 20000 to clear his debts as his share of equity.
He is considering agreeing to this as new wife wants a fresh start too.
So what are the chances of me getting a mortgage alone on the property?
Current income 12000 after tax, maintenance 3000 a year, and tax credits about 5000.
Maintenance is a private arrangement so no court order to prove it just bank statements showing his weekly payment into my account.
Parents will help by giving me some money as a lump sum to drop the current mortgage a bit but obviously I don't want to take all their savings.
Online How much could you borrow calculators seem to vary quite a bit from bank to bank.
Anyone think I have a chance of actually being able to do this??
Looking for the sunshine after the rain :cool:
Dealing with debt £1800 paid / £1800 cc :j
Now aiming to be mortgage free...figures to follow
Dealing with debt £1800 paid / £1800 cc :j
Now aiming to be mortgage free...figures to follow
0
Comments
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Chances of obtaining the mortgage are slim.
Your ex should sell the property and split the equity.0 -
Unfortunately we've tried that. Been on the market for a year, two offers withdrawn and we dropped the price 10000 (20000 less than we paid for it) but still nothing. Difficult for me to make it more saleable when I don't live in it.
Got several appointments with banks next weekend but just wanted to be prepared for a "computer says no" Looking for the sunshine after the rain :cool:
Dealing with debt £1800 paid / £1800 cc :j
Now aiming to be mortgage free...figures to follow0 -
I'm not an expert by any means but Nationwide might be worth considering, that's who I got my current mortgage from with similar circumstances - they included my tax credits and child benefit as well as my salary. They wouldn't include my maintenance payments though as my ex gives me it in cash every month and I pay it in but they said if the payments had been going in via standing order for a while (6 months or a year? can't remember which) they could have included it as income.0
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"Got several appointments with banks next weekend "
Save yourself some time and find a good whole of market broker instead.0 -
When i bought my husband out, i went through Nationwide, and i worked part time.0
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