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Separation and taking over mortgage
super125
Posts: 39 Forumite
I hope to take over jt mortgage soon from ex partner. He is saying at the moment he will agree to anything and transfer equity to me etc
my question is what are the chances of taking over a 150K mortgage with gross salary of 39K and child support of 1K per annum. I have no debts, 2 children. I have not factored in child maintenance yet as they will only consider this at three month point. Time is of the essence given my ex is extremely unpredictable.
my question is what are the chances of taking over a 150K mortgage with gross salary of 39K and child support of 1K per annum. I have no debts, 2 children. I have not factored in child maintenance yet as they will only consider this at three month point. Time is of the essence given my ex is extremely unpredictable.
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Comments
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I'm not a broker or anything but it would be down to affordability. My other half is currently handing over his mortgage to his former partner (it's been ongoing for years!!) and she has been able to obtain one but it's £100,000. It would be worth speaking to a mortgage advisor and see what they say, they'll have to do an affordability calculator etc.0
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I think your chance is about 75%. I think you will be able to afford the mortgage but it will depend on your other outgoings, and how strictly the lender applies their affordability criteria.The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.0
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It would also depend on the value of the property. If it is now worth 145,000 then I'd say not a chance, if it's nearer 200,000 then you may have a small chance.0
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