Getting a mortgage after divorce

[GingerBeer1234]

Hello, I posted this originally in the divorce board but it might be better placed here...

I was wondering if anybody could share their knowledge on getting a mortgage as a divorced single income parent.

All I seem to hear is that lenders are much tougher these days - for everyone - so I'm assuming that it's even harder if you're on one income. And self-employed will only make it worse, I'm sure.

I have accounts I can show and will have a reasonable deposit - about 60% - but is it likely I can get 3 x my (lowish) income? Or 4 x, with a good deposit? Or do lenders just baulk at lending to single parents full stop?

Does anyone have any experience they could pass on? Tips on sympathetic or specialist mortgage lenders?

Thanks.

Having remortgaged several times in the last 12 years - all as a single parent and with one income - I've never had a problem. I think your self-employed status may be a bigger hurdle but it's not impossible. With a 60% deposit and a good credit record they should be biting your hand off. I'd recommend getting yourself a good independent mortgage advisor to take your personal circumstances, wade through all the different products on the market, and then present you with some choices.

I recently remortgaged with the Co-op as a self employed single parent I got 4.19 times my average profit over the last 3 years. The only problem I had was that the underwriter couldn't read very simple accounts and claimed they couldn't see my drawings in the account . I had to direct them to line 11 of page 7 of the accounts that was itemised as drawings.