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Mortgage and borrow more money
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Sinistro
Posts: 12 Forumite

Hello, me and my wife divorcing. She want stay in home and pay me out. We have joint mortgage so she also want to transfer of equity to our self. Mortgage what left is around 110 k and property value around 200 k. Her annual yearly income 28 k.
She need to borrow 20 k to mortgage for pay me out. Is that possible for her? (what maximum she can get).
What criteria have a bank to do this?
Any different options to get money for pay out if that will be impossible?
Thank You
She need to borrow 20 k to mortgage for pay me out. Is that possible for her? (what maximum she can get).
What criteria have a bank to do this?
Any different options to get money for pay out if that will be impossible?
Thank You
0
Comments
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Suggest you seek advice from a familiy law solicitor. There may well be other factors in determining how your assets are divided for the divorce. .0
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We already ask solicitor and make deal with no fight. I just like to get some answer for that questions above.0
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It's impossible to calculate what you are asking with the minimal information provided. Suggest you enter the full details in a lender affordability calculator - eg income, with breakdown between basic and variables, dependents, childcare, credit commitments, ground rent & service charges, mortgage term/age etc.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.0
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