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Can I get a DIP?
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Posts: 5 Forumite
I am in the process of being bought out by my ex-partner. She has a mortgage agreed to buy me out of the property and everything is in process, albeit slowly. We will complete our divorce at the same time.
I found a house sooner that I thought I would and want to put an offer in. The problem is, will I be able to get a decision in principle or even apply for a mortgage while my name is still on the old property and before I have fully completed my divorce?
I will be receiving a nice sum as part of the settlement and be able to put down a 10% deposit. I have a pretty good credit history and score. I recently had to take out a small loan so have one recent search on my file.
Should I apply now or wait until everything is finalised with the house/divorce?
I found a house sooner that I thought I would and want to put an offer in. The problem is, will I be able to get a decision in principle or even apply for a mortgage while my name is still on the old property and before I have fully completed my divorce?
I will be receiving a nice sum as part of the settlement and be able to put down a 10% deposit. I have a pretty good credit history and score. I recently had to take out a small loan so have one recent search on my file.
Should I apply now or wait until everything is finalised with the house/divorce?
0
Comments
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You can get a DIP now.
Cut this down to its simplest form... you are a home move. Your circumstances are that you are selling your current property and using the equity (or your share of it) to purchase a new property.
No different in theory to that of someone selling their residential property and buying a new house.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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