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Need to buy wife out
AJ2608
Posts: 4 Newbie
Hi, here's the deal.
Split up with wife and looking to get £30,000 to buy her out. The house is a shared ownership house with Orbit and we have £45,000 left on the mortgage where we own 40% Total value of house is around £300k
I'm living in the marital home and she's in agreement that I can buy her out.
However, we're in a debt management plan so my credit rating is ok but not great. I'm also 3 months in arrears with the mortgage which I will be repaying monthly.
I intend to go to a mortgage broker to see what my options are. I can afford to live there although i would take in a lodger.
There is the option of securing the extended mortgage on my parents home (all paid up and their house is worth £300k)
What do you think my options and chances are?
Thank you
Split up with wife and looking to get £30,000 to buy her out. The house is a shared ownership house with Orbit and we have £45,000 left on the mortgage where we own 40% Total value of house is around £300k
I'm living in the marital home and she's in agreement that I can buy her out.
However, we're in a debt management plan so my credit rating is ok but not great. I'm also 3 months in arrears with the mortgage which I will be repaying monthly.
I intend to go to a mortgage broker to see what my options are. I can afford to live there although i would take in a lodger.
There is the option of securing the extended mortgage on my parents home (all paid up and their house is worth £300k)
What do you think my options and chances are?
Thank you
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