Advice for keeping family home after divorce

[Thatgirlcat]

Hi,

I want to divorce my husband, but try and keep the family home by buying him out. Does anyone know where I can get free mortgage advice? We have just bought our first home together (stupidly). I want to try and keep it as we have 2 very young children together. I'm hoping to have them for most of the time and I don't want to have to move all over again after we divorce due to school and pre-school placements etc.

Any advice welcome please!

The key here is whether a LENDER thinks you can afford it not whether YOU think you can afford it. A basic mortgage is 4.5 times your salary and many lenders take UC, Child benefit and child maintenance into account. If you are nowhere near 4.5x your salary with all your benefits then you won't be able to get a mortgage. The broker will be able to tell you which lenders will take the above benefits into account so you only apply to the right ones. What is the outstanding borrowing left on your current mortgage?

You might be able to take on the loan for a longer period to keep monthly payments down, or else go interest only for 3 years. Ask about these options.