morgage help

bags0784

Hi
i am wanting any advice which could help me find a solution.
i am recently divorced and looking to take my ex husbands name off the morgage and find a better morgage agreement.
i have paid the morgage on my own for the last 8 years and not had a problem doing this, however i need to change the morgage to a repayment type or similar as it is interest only at this time. i am now struggling to find someone who will give me the morgage, i don't have any cash for a deposit. my current lender says i have to remorgage to take a name off the account.
any advice would be very appreciated

Caz3121

Is their any equity in the property? are you releasing your husband only or releasing and paying him a share of the equity?
Probably going to have to post some rough numbers for some guidance
Rough property value, current outstanding mortgage, income...
You will likely go through the process of applying for a mortgage in your name only. Some lenders mortgage calculators will be able to give an indication on what you would be able to borrow based on income and outgoings...likely start about 4.5x income and reduce if you have debts, dependents etc

When you say you are struggling, have you spoken to a broker?

bags0784

the house is worth approx £210 and 17900 outstanding, just releasing husband only. income approx 28k but including any overtime 33k. no dependants involved. i did make enquiries with a financial guy who went to check with various brokers.
many thanks