I’m thinking about splitting up from my husband. I would really like to stay in the house with my children.
Our mortgage is £300k on a £900k property. Current mortgage is about £550 pcm. I would have to buy out my husband so get a mortgage for at least £500k. I can afford £1000-1200 pcm in payments.
However, my salary is about £60k pa. Can I get a mortgage for £500k on £60k??
What if I had a guarantor? Do they have to earn a certain amount? My mother has a good pension so could be a guarantor but she isn’t completely well so couldn’t get life assurance. Would that be a problem?
Her property has no mortgage. Could I secure my mortgage against her property? It’s worth about £750k. I’m an only child so will inherit the property.
Are there any lenders who are particularly good in this situation?
Anyone have any ideas?
I’m not concerned about affordability because I have a few other sources of income too. My concern is being allowed such a large mortgage on my salary. Thanks.
Please or to access all these features
Please
or
to access all these features
Here you'll find divorce help and support from other Mners. For legal advice, you may find Advice Now guides useful.
Divorce/separation
Keeping the house
34 replies
Hellio · 10/05/2020 15:56
OP posts:
Don’t want to miss threads like this?
Weekly
Sign up to our weekly round up and get all the best threads sent straight to your inbox!
Log in to update your newsletter preferences.
You've subscribed!
Please create an account
To comment on this thread you need to create a Mumsnet account.