We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Mortgage after splitting with partner

paulb369uk
paulb369uk Posts: 168 Forumite
in Mortgages & endowments
Hi all, just after a little advice...

Current mortgage is 96k on SVR (no tie in) and the house is valued around 160k, have agreed with to pay my partner 25k so would need to re-morgage for around 120k. I have looked into going onto a new fixed rate till I can sort my finances out, which I could afford. When doing mortgage calculations online it would appear I can borrow 113k with my current salary, would the new lender take into account the extra equity in the house that I still have remaining or would they just go on my salary ?

Any help appreciated.

Thanks

Comments

  • homer_j_3
    homer_j_3 Posts: 3,266 Forumite
    what is your salary/income and what is your credit history like?
    I am a Mortgage Adviser
    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.
  • paulb369uk
    paulb369uk Posts: 168 Forumite
    homer_j wrote: »
    what is your salary/income and what is your credit history like?

    Credit is very good, never had any problems and things all paid on time. Salary is around 32k.

    Thanks

    Paul
  • homer_j_3
    homer_j_3 Posts: 3,266 Forumite
    It seems on face value that you could get 120k on your wage no problem providing you didn't have massive monthly credit commitments.

    I would get yourself to a professional to seek the best mortgage for you.
    I am a Mortgage Adviser
    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.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352K Banking & Borrowing
  • 253.5K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245K Work, Benefits & Business
  • 600.6K Mortgages, Homes & Bills
  • 177.4K Life & Family
  • 258.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture