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If I own 4/5% of a house, what is the impact on Mortgage or Help to Buy?
Comments
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Each lender has its own way of dealing with benefits and child maintenance when calculating how much they will lend. Your ex might have a mortgage broker who has found a lender willing to lend up to £250k but she will need a deposit of some description.
Whether this lender will allow more people named on the deeds than the mortgage, or borrowed deposits is another matter altogether.0 -
Jeff.Jones78 wrote: »I need to dig further when I drop my daughter tonight as something does not add up
I'd quite agree.
I'd also not consider any of what's been suggested from your point of view.
A few years ago due to circumstance i was guarantor on the mother of my daughters rental property. Never again.0 -
Jeff.Jones78 wrote: »Will I still be able to use Help-to-buy?
If I apply for a mortgage, would I still be seen as a first time buyer or would it impact the time of mortgage I can have?Jeff.Jones78 wrote: »Sorry if I am being stupid, but that was my first property purchased 18 months ago and I had never expected to have such a rubbish situation and a separation right now!
Just to clarify, you bought your first property 18 months ago? Surely you can't possibly be classed as a first-time buyer regardless of what happens with your ex's new property?0 -
Jeff.Jones78 wrote: »Don't get me started with the English system as I'm puzzled by it (I'm French)! She is getting approx 500GBP a month of tax credit as her PT work qualify for it. I should have said maintenance (not pension) for my daughter 700GBP a month. She also gets disability allowance for her first son (again 450GBP or so); all that on top of her salary.
Saying that I just tried some mortgage calculator and I can get up-to 190k but nowhere near 250k. I need to dig further when I drop my daughter tonight as something does not add up
How does your pension come into the equation?0 -
Thrugelmir wrote: »How does your pension come into the equation?
Used the wrong word, meant maintenance! Sorry0
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