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    • Rusty79
    • By Rusty79 13th Jun 19, 9:00 PM
    • 5Posts
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    Rusty79
    Remortgage possibilities
    • #1
    • 13th Jun 19, 9:00 PM
    Remortgage possibilities 13th Jun 19 at 9:00 PM
    Hi. Me and my wife we are separated now for 2 years. We have joined mortgage together and I want my name taken off from that mortgage so I can get mortgage on my own. Problem is she took a loan for car last year and if bank ask her to clear that loan off she can't do that. That mean she won't be able to remortgage house . I don't want her to lose that house. What options do we have? Thank you for your advice.
Page 1
    • csgohan4
    • By csgohan4 14th Jun 19, 6:59 AM
    • 6,502 Posts
    • 4,387 Thanks
    csgohan4
    • #2
    • 14th Jun 19, 6:59 AM
    • #2
    • 14th Jun 19, 6:59 AM
    Depends on her income and how much is owing on the mortgage


    If she took out a car loan that will affect her affordability


    Generally can only borrow x4.5 of your income not including current debts/loans


    Another possibility is selling the house and splitting the proceeds


    Do you have children together as that will affect things too
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
    • foxy-stoat
    • By foxy-stoat 14th Jun 19, 8:01 AM
    • 5,104 Posts
    • 3,057 Thanks
    foxy-stoat
    • #3
    • 14th Jun 19, 8:01 AM
    • #3
    • 14th Jun 19, 8:01 AM
    Will the bank ask her to clear the loan though? It will just affect the affordability - have you actually spoke to your lender about her taking on the mortgage on her own?
    • Thrugelmir
    • By Thrugelmir 14th Jun 19, 11:34 AM
    • 64,859 Posts
    • 57,225 Thanks
    Thrugelmir
    • #4
    • 14th Jun 19, 11:34 AM
    • #4
    • 14th Jun 19, 11:34 AM
    Hi. Me and my wife we are separated now for 2 years. We have joined mortgage together and I want my name taken off from that mortgage so I can get mortgage on my own. Problem is she took a loan for car last year and if bank ask her to clear that loan off she can't do that. That mean she won't be able to remortgage house . I don't want her to lose that house. What options do we have? Thank you for your advice.
    Originally posted by Rusty79
    Have you had a financial consent order drawn up to divide the assets you own?
    “If the financial system has a defect, it is that it reflects and magnifies what we human beings are like. Money amplifies our tendency to overreact, to swing from exuberance when things are going well to deep depression when they go wrong. Booms and busts are products, at root, of our emotional volatility.”
    ― Niall Ferguson
    • Rusty79
    • By Rusty79 14th Jun 19, 2:26 PM
    • 5 Posts
    • 0 Thanks
    Rusty79
    • #5
    • 14th Jun 19, 2:26 PM
    • #5
    • 14th Jun 19, 2:26 PM
    Just done appointment with bank today so will see what they going to tell her. Thank you for your help.
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