To ask if you have a lone mortgage...

[Sidalee7]

Whether you think this is affordable?

Selling the family home after divorce. I want to buy a house in the region of 360, south west.
I need to get a mortgage for 200k, salary including bonus and maintenance comes to just over 50k. I’ve worked out that paying this and all bills including cleaner/DC’s dinner money/dc’s allowance comes to 42% of my net salary. Doesn’t include food/savings/petrol/clothes/treats.
Has anyone remortgaged alone for similar and any tips for applying? It’s been 20 years since I last applied and I sense things have changed!

I'm in a similar position but earn a bit less, house I bought costs a bit less and I was an FTB so no equity and only 10% deposit. I completed in August. My disposable income in % is very similar to yours. I think of it as a relatively privileged position. It allows me to move on with my life and that's great. Following a divorce everyone is worse off financially but you can build yourself up again in the future, so in a way I'm thinking that 'it's only money' - if that makes sense? I don't have months or years of managing on my own like this, and who knows what the future holds? but I'm feeling quite optimistic.

My broker was really great, talking me through all the options, what matters and what doesn't, it was very helpful and supportive. I worked in financial services for many years and understand mortgages really well but having current knowledge of multiple lenders and their criteria today is not something that you can match no matter how clued up you are in these things. Even more so in coronavirus times (what a mess!) I can pass on his details if you like, you can have an initial chat and see how you feel. I would advise against L & C because they're so big and so the service you get is kind of dependent on who's dealing with you, it can be quite random in quality. A good broker, recommended by friends & family that's working for himself will give you a lot more time and attention, I think.

Good luck

Yes I second a good broker, I use an independent who doesn’t charge a fee, and he’s brilliant.

I have a mortgage on my own. Half of yours but property is cheaper where I am. My earnings are about half too!

@nevernotstruggling

You need a mortgage broker. London and country are free and I found them very helpful

I second this recommendation for L&C