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Separated from partner, can't keep house in my name - Advice
HollowmanVIII
Posts: 1 Newbie
Evening guys, long story short, me and my partner separated a few months ago and we initially agreed that I could keep the house in my name. We bought it for 160k in July 2016, there is 143k now left to pay. I spoke to my lender yesterday who wouldn't take my partner off as they would only allow me up to around 120k with the affordability check based on my income. So this leaves me 23k short. The frustrating thing is, I could easily afford the payments each month.
What are my options now? Is it wise to just bite the bullet and sell up? I really don't want to lose the house but I don't have a spare 23k to chop the mortgage down,
What are my options now? Is it wise to just bite the bullet and sell up? I really don't want to lose the house but I don't have a spare 23k to chop the mortgage down,
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Comments
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Unless you can find a different lender willing to take you on you will have to sell an find somewhere else within your means.0
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Now, maybe. But when interest rates rise?HollowmanVIII wrote: »The frustrating thing is, I could easily afford the payments each month.
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You don't say who you are borrowing with. Have you tried speaking to a broker? Another lender might have differing affordability criteria.0
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Can you take on a second job? Something in the evenings or weekends? Not ideal, but not forever.2024 wins: *must start comping again!*0
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