Best lenders for single parents

tryingtostayput

Hello,

I wonder if anyone is/or has any advice for/ single parents trying to secure a mortgage? My husband left me a couple of months ago and I am quite happily paying our joint mortgage on my own and really want to stay in my home to secure some stability for my son.

I failed the affordability check with my current lender to take my husband off the mortgage. The advisor actually showed me that if they took the full amount of child maintenance/tax credits into account, I would be okay.

I work full-time, easily afford our monthly payments and have 50% LTV in the home. I don't feel I should be a hopeless case for securing a mortgage.

Are there any lenders out there who are known as being more favourable to single parents in terms of taking into account a higher % of maintenance etc?

Any advice would be very very much appreciated.

Thanks :beer:

cahillg81

Who are you currently with?


Has your husband been taken off the bank account?

Probably best to discuss with a broker who has experience in these sort of issues. I can think of 2 lenders maybe 3 who may be sympathetic to your needs.

[Deleted User]

Nationwide do, they require proof of maintenance at the current level for 3 months, and your tax credit award notification as proof. I've literally read every small print i can find as am hoping to do the same as you at the end of this month. I'm putting all my hope in them! Fingers crossed for you!

Oakdene

Natwest took my tax credits, child maintenance & child benefit into account when I applied for a mortgage. (single dad)

Floxxie

tryingtostayput wrote: »

Hello,

I wonder if anyone is/or has any advice for/ single parents trying to secure a mortgage? My husband left me a couple of months ago and I am quite happily paying our joint mortgage on my own and really want to stay in my home to secure some stability for my son.

I failed the affordability check with my current lender to take my husband off the mortgage. The advisor actually showed me that if they took the full amount of child maintenance/tax credits into account, I would be okay.

I work full-time, easily afford our monthly payments and have 50% LTV in the home. I don't feel I should be a hopeless case for securing a mortgage.

Are there any lenders out there who are known as being more favourable to single parents in terms of taking into account a higher % of maintenance etc?

Any advice would be very very much appreciated.

Thanks :beer:

Have you spoken to a solicitor about your options? You really should be getting this in a Consent Order otherwise your husband will have a claim on your property. (Some lenders also require a Consent Order detailing Child Maintenance) There are alternatives to you taking on the mortgage yourself, especially as there is a child involved. Take a look at the wikivorce forum for information and suggestions on your situation.

(P.S. Halifax considered my application as a single parent with CM and TC although I ended up mortgaging on a joint application).

Smodlet

Hi all, I am sorry I have nothing practical to add but just wanted to wish you all the best of luck. You hang in there, guys!