Split up. Want to get a mortgage

Stevenr1986

Hi everyone. New here. First Post as I can't find a solid answer to my question anywhere else.
Iv been married since 2005 and now we have split. The split has been amicable and fine. Divorce on the cards but not final or even planned at this stage. I have hope we can reconnect. Not much chance but hope is hope.
We were going to buy a home together and I have always wanted to own. She wanted to rent as that's got perks and it's own benefits. I want to get my own home regardless now.
Looking to spend 90k with a good deposit of my own money. Earning 20k pre tax. Not big amounts but fine for me. She does not work. I am currently living with friends and have no fixed address. I'll sort this out inside a week. Not a concern.

Once I have my own rented place, would it be necessary to divorce pre mortgage application in my name? It has to be in my name. I want to make a sole application and base it on me. If we reconcile, great. If not, iv got a home for the kids to visit and a legacy for them.

Would a Bank or such accept 'separation' as enough? A formal divorce can be done but its expensive (for what you get) and messy as it can bring up hate and resentment. I want to live my way and if all pans out, amazing.

I have some debt which costs me 300 a month. Factoring in my deposit and debt I'm OK for 90k or so. Debt free in 3 years or I can clear all with the deposit and work it that way. That's not my main concern. My concern is that my current legal marriage would scare a bank. Shall I divorce now, during or after application for the mortgage. Confused and trying to do the correct thing for me, her and the kids.

dimbo61

Three words !
Debts ( which you have )
Mortgage deposit ( which you don't have )
Kids ( so more than one child )
So you maybe able to get a £90K mortgage BUT you don't have any money to put down as a deposit.
I am not 100% sure but I don't know of any 100% mortgages.
You need to clear you debts
You will also have problems as you have dependant children Child support comes to mind which effects your ability to borrow money.
Where is your Ex partner and the kids living now ?

ACG

To answer your question, you can get a mortgage on your own even if you are happily married. Your options may be reduced slightly but nothing to worry about.

Things to consider:
1) Is it affordable in the eyes of the lender? On £20k I would expect your maximum mortgage to be around £90k with no major debt or kids. So depending on the financials it sounds like it should be feasible but best to check.
2) If you do not get back together, will there be child maintenance? If so, that needs ot be factored in.
3) As you are married, will she want some of your deposit or the house?