100%+ Remortgage Required

Adrian888

Due to the costs of the divorce my ex-wife requires I need a re-mortgage ideally in excess of 100% ( about 110/115%). This will enable me to pay out the settlement agreed with the x, stay put in the house and leave sufficient capital to undertake improvements (additional bathroom and study) and buy a small parcel of land nearby to build a garage and create a small garden. (There is also the long term possibility of getting planning permission on the land for a small house ( i am an architect)). The house was valued in May at £200k for the purposes of agreeing the ex's share and the current mortgage balance is around £41k. My current lender has offered 90% re-mortgage on the above valuation without any problems but will not go beyond that proportion. Any ideas or suggestions on which lenders might be sympathetic to my situation, my income is around £50k before bonus'.

herbiesjp

There are only limited options with lenders that go over 100%.

And I suggest explaining your detail to a whole of market adviser would be a good idea, in order to see if your idea is indeed workable