Any good banks for dealing with divorce people?

[Goose72]

Hi,
Almost at the end of a long divorce and the family home (mortgage free) is on the market, however struggling to shift it and we have knocked the price down. Still nothing. I am living in it and the two kids split their time between us. Stbx is pushing for his half of the sale and said he needs it and has offered me the house at a reduced cost but it would mean I’d need a mortgage of £125k to buy him out. House is too big but I don’t want to lose anymore money on it and it may be worthwhile to take it over and do it up a bit (it could do with redecorating and a new kitchen). I could sell at 60 when I plan on taking my pension lump sum and 95 section of the NHS pension (although I will carry on working).

I am paying solicitor fees back for a while
on credit card (0% interest) so can’t really afford much for a mortgage. Maybe £500-£600. However, my lump sum in my pension currently stands at almost £100k. Is there a bank that could advise me what I can do? Even for other properties and different price ranges?

I don’t want to end up struggling and having no money for enjoyment. My job is very stressful and it would affect my mental health if I wasn’t coping financially. I was planning on downsizing but the family home isn’t selling!

stbx has another house!

Im 52.

Call an independent financial adviser rather than a bank, they can view the whole of the market, what deals there are, and go through options with you.

You need a mortgage broker
they will help and guide you through what’s possible

I’ve just had a play with the mortgage in principle with NatWest and Barclays. Both said no 😔. Said the time I have to pay it back is not enough and they don’t factor in the lump sum I get, from my pension, at 60 (which is more than what I want to borrow). I’m 52.5 years. I have a car I am paying £250 a month for but I need the car as I work 88 miles away and go across some isolated areas! Only once a week, as work from home too but need a car for my job.

Anyone know any banks that would give a 20 year term? I’m so annoyed as my last mortgage (which we paid in full, via overpayments) was with Barclays and it was paid in 15 years!!

Any free mortgage brokers out there? I’ve been stung by £300 an hour solicitor fees for 3 years so trying to save now!

I’ve got the number to make an appointment with a Barclays mortgage advisor as I’d like to see someone in person.

Banks won't give financial advice

You need a financial advisor or a mortgage broker. My mortgage broker got me a deal when I had low affordability as he had expertise and could see the full market offerings. Mortgage gym is who I went through.

Thanks 🙏

Have you completed your financial settlement yet?

Yes. I didn’t want to go to court so have ended up with a lot less than I should’ve done but that’s the way it is.