Getting divorced - what to do with mortgage?

Hello everybody.

I'm in the process of getting divorced but have been staying on in the house I bought with my (soon to be ex) wife since she left 9 months ago. I have been paying the mortgage myself ever since and can afford to do so but she is now wanting me to buy her out which will probably mean me selling the house - not something I really want to do at the moment.

There is about £200k left on the mortgage and a year left on the current fixed rate we took out. The problem is that I am self-employed (my wife was full-time employed) so the initial mortgage we took out was based on both our incomes. What is the likelihood of Nationwide allowing me to take on the rest of the mortgage on my own?


  • Do you have three years of accounts for your self-employed status?

    Most lenders will want to see proof of income anyway.

    You may well benefit from going through a financial advisor as I did when I was self-employed.

    You also need to consult a solicitor specifically because you should be able to offset the amounts you have been paying as additional (ie 50/50 split, with OH's half minus the costs you have been covering).
    :D Thanks to MSE, I am mortgage free!:D
  • fizzgig wrote: »

    I'm in the process of getting divorced quote]

    Sorry about the divorce fizzgig. This recently happened to me (well I wasn't married but the flat split problem was the same). Do you have any equity in the property? I was surprised when I came to remortgage and buy out my ex partner that my mortgage company were willing to give me in far in excess of my standard income multiples because we had built up equity, basically if what you want to borrow is much less than the value of the property they are much less sniffy about what they'll lend you.
    MFi3 member 105 - MFW date Oct 2023 - 12 years 9 months more
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