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MORTAGE
aayush
Posts: 1,295 Forumite
Hi
I am at present going through mutual separation as am on a share ownership unit which will transfer to my wife as she and my son will be staying at the flat in question and thus will need to move out
as there large age gap between me and my wife thus not easy to get a good mortgage for another shared ownership as the private renters are asking silly money for flats then on top deposit
Can Anyone help as running out of time to get another unit as not wish to be stuck in a hell hole
I am at present going through mutual separation as am on a share ownership unit which will transfer to my wife as she and my son will be staying at the flat in question and thus will need to move out
as there large age gap between me and my wife thus not easy to get a good mortgage for another shared ownership as the private renters are asking silly money for flats then on top deposit
Can Anyone help as running out of time to get another unit as not wish to be stuck in a hell hole
0
Comments
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What's your question?£12k in 25 #14 £15,140.07/£18k 24 #14 £15,653.11/£18k 23 #14 £17,195.80/£18k 22 #20 £23,024.86/£23k1
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how can i get a mortgage at my age for another unit not too far away from son
as my age is 59 at present0 -
(sorry for everyone that this is happening)aayush said:Hi
I am at present going through mutual separation as am on a share ownership unit which will transfer to my wife as she and my son will be staying at the flat in question and thus will need to move out
....
I presume you mean you will need to move out.
Moving out & splitting from wife does not mean you have to transfer (I presume you mean..) ownership and existing mortgage to wife. I doubt mortgage lender would agree anyway (they like to still have two people to sue if mortgage not paid).
Suggest you speak to a solicitor who specialises in family matters AND property buying/selling.1 -
What I suggested here still stands;-
https://forums.moneysavingexpert.com/discussion/comment/80022079#Comment_80022079
I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.2 -
done and she say afford ability is out but this was before I did a benefit check for universal credit but not sure if they take that into conconsedartionn
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Some strands of universal credit are taken into account by the shared ownership calculator while others aren't. You need to provide a copy of the award letter to the broker so the correct amounts can be entered in the right boxes.aayush said:done and she say afford ability is out but this was before I did a benefit check for universal credit but not sure if they take that into conconsedartionnI am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.1 -
if i start to take a pension will that help with the mortgage and would I still get UC0
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Depends on what mortgage (state or private), how much and which lender plus for UC see UC guidance on gov.uk (which elements of UC are you getting -e.g. HE ? )0
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the issue Is no one on the UC helpline is not willing to give any information until you do the claim but you put yourself in my place you paid the deposit for a flat done uc form and then find out you do not get the amount of rent help and mortgage help you thought you would get what you thought you would get as per checker web sites so your up the creek without a paddle0
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Have you looked at the guidance on gov.uk for UC on eligibility and what you would get, please?
Or tried the various benefit calculators using varying scenarios to see what you might get?
Are you getting HE?
If answers provided should be able to help a bit more.
1
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