Hi everyone, thanks for taking the time to try and help me. Just over a year ago my children's dad left me for another women and left me to pay for our mortgage and 2 children.
I have paid the mortgage now out of my own account for just over a year. I haven't been able to apply for the mortgage on my own yet due to being on and off furlough with Covid this year. But I now have a 22hour a week contract behind a bar as of next week as well as a year contracted supply teacher for 1 and a half days starting September. These 2 jobs combined, I will take home on average £1500-£1600 a month as with supply I don't get paid through school holidays.
I have been speaking with my personal mortgage broker since the split with my ex, who will be writing to the underwriter at the end of the month explaining my circumstances and building up a good case for me after I have worked for 4 weeks to apply for the mortgage on my own.
We bought the house for £158,00 in 2017
It is now worth £175,000
Remaining balance on mortgage is £135,000
We hold the property as tenants in common me 80% and my ex holds 20%
40 grand in house to split so I would need to buy him out £8000 but he has said he is happy to accept £6000.
What are the chances of being accepted by the underwriter to have the mortgage in my sole name?
I have no credit cards,
No debts,
Experian report is 999
Savings of £4,500
Paying mortgage for 13 months on my own,
I also put down £16,000 deposit for the house.
Can someone help me with what my chances are? Thankyou so much X