We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 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!
Mortgage question, help please!
Maisiemoo88
Posts: 1 Newbie
My husband I have split up and I really need some advise please!
We have sold our home (sale currently going through) as it's too big for me and my son and the mortgage payments are too expensive.
The initial idea was to split all of the equity and go our own ways with renting. We were both a bit apprehensive about me renting with our son as we want to provide stability for him.
I did look into buying myself but I don't earn enough to borrow the amount I'd need.
Husband has now offered to effectively buy us a house and pay the mortgage instead of maintenance which would work for me.
The question I have is, could he do this on a residential mortgage? He doesn't have enough of a deposit for a buy to let mortgage and obviously wouldn't be letting it anyway as he'd be paying the mortgage with no help from me.
Would really appreciate thoughts on this as we don't want to commit fraud!
We have sold our home (sale currently going through) as it's too big for me and my son and the mortgage payments are too expensive.
The initial idea was to split all of the equity and go our own ways with renting. We were both a bit apprehensive about me renting with our son as we want to provide stability for him.
I did look into buying myself but I don't earn enough to borrow the amount I'd need.
Husband has now offered to effectively buy us a house and pay the mortgage instead of maintenance which would work for me.
The question I have is, could he do this on a residential mortgage? He doesn't have enough of a deposit for a buy to let mortgage and obviously wouldn't be letting it anyway as he'd be paying the mortgage with no help from me.
Would really appreciate thoughts on this as we don't want to commit fraud!
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards