Affordability issues following break up on joint mortgage

MichaelL94

Hi guys I'm new here and just looking for a bit of advice following a break up.

So to just tell a bit of the back story me and my ex girlfriend bought a house together 3+ years ago. We re-mortgaged in October and pulled out some equity to purchase a rental property, we didn't get round to purchasing the rental as split up (luckily).

We split that money 50/50 and we took out a trust deed when we first bought the house in the beginning as I put in all the deposit (annoyingly didn't index link it but we live and learn) so the majority of the equity in the property I am entitled to.

Any way my question is I don't pass the mortgages affordability model which is roughly annual salary x 4.5, to take over the mortgage myself.

We split up 3 months and she has moved into rented accommodation as we agreed I would keep the house, now I have demonstrated that i can maintain the mortgage and bill payments for the past 3 months, is there or has any one heard of them taking this into consideration when the underwriter looks at the case?

Speaking to a girl at work who is in a similar situation said thats what her ex has done....so it appears to be an option. I understand each company has their own guidelines. Just wanted to see what your guys opinions were and if you have any advice.

I do have a back up of parents giving me the equity shortfall to make it so i pass affordability but would rather try and do it on my own in the first instance if possible.

Cheers for any of your guys input

Mortgage_Adviser

When you need to take a mortgage in your personal name which you do, your affordability is assessed based on lenders affordbility model.
The lenders don't assess the affordability based on the current mortgage payment/rate but on a much higher one circa 5% where the take in to consideration any future base rate rises.


What is your income?
What is the mortgage oiutstanding?
Do you have any debts eg loans, credit cards, car finance etc?