We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Remortgage recommendations required
Options

Adrian888
Posts: 4 Newbie
Finding myself in a divorce situation I need to remortgage the house to buy out my ex's interest and settle other aspects of the divorce. The house was valued at £200k for re-mortgage purposes 2 months ago and I need to raise at least 95% to fund everything. Income is £49k plus bonus, I am 50 with no children. Current mortgage outstanding is £40k's. Any recommendations/suggestions? I will probably need to go to 25 yrs to make payments affordable.
0
Comments
-
Looking at your circumstances, it looks pretty easy from a whole of market perspective but it could be challenging for you to attempt it yourself.
I would recommend that you consult a whole of market mortgage broker for certainty.
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
As long as you have no other debts and a clean credit history, with a £49k income it looks straightforward.
However have you just re-mortgaged 2 months ago? Are you now tied in to your current lender? What rate are you on?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 -
The re-mortgage valuation 2 months ago was in part to establish a value for splitting assets and enable me to calculate how much I would have to raise to buy out my ex's share of the house. Unfortunately I woefully under-estimated the value of my pensions and that is why I need such a big loan now. I was going to stick with my current lender ( Yorks Bank Offset mortgage) but the rate is not that good in comparison with the headline rate some lenders appear to offer.0
-
You are doing the right thing in shopping around and comparing with yoru current lender
Going up to 95% on a re-mortgage can limit the lenders available, however you should still have a good selection to choose from
Just be careful of Higher Lending fees which some lenders will try and hit you with
HTHI 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
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.7K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.4K Spending & Discounts
- 243.7K Work, Benefits & Business
- 598.5K Mortgages, Homes & Bills
- 176.8K Life & Family
- 256.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards