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Taking over mortgage on own

(4 Posts)
emza78 Sat 21-May-16 21:04:17


We're in the process of separating and currently have a joint mortgage. I could afford the mortgage repayments on my own but if the bank were to look at my income they wouldn't lend me the full amount we have borrowed on the house. Has anyone had any luck taking over the mortgage on their own after a separation? If I can prove I can meet the monthly repayments is there a chance? Will phone bank on Monday but just wondering..

dimots Sat 21-May-16 21:07:59

If you get child maintenance from your ex some banks will include it as part of your income. Check with the bank.

crayfish Sat 21-May-16 21:32:30

I did this, but had to put some money into the mortgage to reduce the amount enough that my own income was sufficient. It was about affordability and tbf the bank worked quite hard with the underwriters to make it be something that was doable. They only needed about 3 grand in the end.

We had no children though but in your case maintenance might be counted. I would recommended speaking to your bank and being very upfront about the circumstances, mine (HSBC) were very supportive,

There was a whole conveyancing process though - it was basically as if I bought the property off my ex h and I, which was weird and did come with the equivalent costs of a property purchase. We were below the stamp duty threshold, but I believe that stamp duty had to be paid if we hadn't been. Just something to beat in mind as the costs were a bit unexpected for me.

Lelloteddy Sat 21-May-16 23:43:33

I remortgaged with Halifax. I took a gamble because Ex idiot plays around with maintenance but I can still manage the mortgage even if he doesn't pay.

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