Mortgage on my own? how likely?

Sellurgranny

Hi, just looking for a bit of advice/knowledge before I approach my lender or a broker about a re-mortgage.

I’m looking to re-mortgage my home which is now in my sole name, though the current mortgage (Standard variable) is in mine and my ex-husbands name still, following on from divorce 7 years ago.
Up until now I haven’t had the capacity to take on the mortgage on my own but wondered if this would be possible now.

The mortgage stands at £78k and the house is worth approx. £170k (had 3 quotes in the summer ranging from £160-190k) (There is about 15 years left on the mortgage *I think* but could be a bit less but at work atm so can’t check that.
My income is £23500 which is made up from £16k full time earnings and £7.5k WTC/CTC
I would ideally be looking for a mortgage of approx. £100,000 to consolidate a legal aid statutory charge (£10k) and Mortgage current account of £14,000 which was run up by ex-husband prior to the divorce.

I have been paying the mortgage since we split in 2009 and have no missed payments so my credit score looks ok.

Obviously the thing I am most concerned about is the affordability criteria – am I likely to get laughed out of the bank?

Thanks for any advice you lovely people can give me.

Neutrinno

It depends how much additional debt you have in the background which won't be consolidated and also how many dependents you have. I think this looks very tight on affordability for £100k. Try lenders affordability calculators or approach a broker who can see if that amount of borrowing would be possible.

Sellurgranny

Thanks Neutrinno, I have no other debts aside from those listed.
I did think it might be a bit tight. I have 2 dependents, 13 & 18.