Re-mortgaging HELP!!

becky179

Myself and husband (not ex yet!) split 3 yrs ago. I bought him out of the property 2 yrs ago and the mortgage is solely in my name now, Although due to ajoint bank account (I no longer use this) I believe I am still financiallyassociated to him!

I am coming to the end of my 2 yr deal and want to re-mortgage, 2 yrs ago Ihad no trouble at all getting a mortgage, but I get the vibe it isn't going tobe as easy this time!

Property valued at £280 (I am underestimating due to the current climate)Mortgage needed £222 currently over 28 yrs.

I earn £23000 with 2 dependants.

Now for the confusing bit! Last time my maintenance was taken into account -£360 a month. This isn't via a court order or CSA just a regular monthlypayment into my account! I am now being told this time it can't be taken intoaccount?

Also Tax Credits were taken into account last time. My new partner moved inwith me Oct last yr. So I no longer receive these so am on paper £450 a monthdown. I have purposely not linked myself with my partner as he has bad creditetc etc.

Can I say he is a lodger so the money he gives me (£450) can be taken intoaccount or does this confuse matters even more?

I have good credit, but do have £4000 on a CC.

If I re-mortgage with my current provider (Santander) would they do a wholenew application and look at my affordability again??

Any advice - other than selling up!! - gladly received.

Thanks

Becky

ACG

Assuming your living in the property and it is not rented out, your only option is going to be with your current lender from what i can see.

They may ask for updated details but it shouldnt be a full application as such.

kingstreet

If you run the details through an affordability calculator, the output is £92,140 so I can't see you getting anywhere near £200k.

The money from your partner is not income, even if he was classed as a lodger lenders won't accept it, unless you could provide evidence of it over a couple of years. If it was includable, it only takes the maximum up to £127k.

becky179

Thanks guys.. think I am having a blonde day!

Value is £180 not £280 and mortgage is 122 not 222!!!

oops

these were my thoughts that my best bet is with current lender just hate being so restricted!

ACG

That makes it more likely, although i think you are probably going to be pushing it and be very limited on terms of who is available.

Depending on your views on what you want to do and how bad your partners credit history is, there could be options including him.