Divorce & Separation Mortgages
Going through a separation is stressful enough without worrying about where you're going to live.
Whether you want to keep the family home, buy out your partner, or start fresh somewhere new, I provide sensitive, confidential advice to help you move forward.
Book a Free Consultation"Being self-employed, I was worried about getting a mortgage, but Rob made it seem effortless. He knew exactly which lenders to approach and guided me through every step. I couldn't be happier with the outcome."
Sarah Jenkins
Your Options
When separating, you typically have three main options for the family home:
1. Sell the property
Both parties move out, the mortgage is paid off, and any equity is split according to your agreement.
2. Buy out your partner
One person keeps the home and takes over the mortgage, paying the other person their share of the equity.
3. Keep the mortgage jointly (temporarily)
One person stays in the home while both remain on the mortgage. This is risky as both are liable for payments, but sometimes necessary in the short term.
Buying Out a Partner (Transfer of Equity)
If you want to stay in the home, you'll need to remove your ex-partner from the mortgage. This is called a 'Transfer of Equity'.
To do this, you must prove to the lender that you can afford the mortgage on your own income. I can help you:
- Assess your maximum borrowing capacity as a single applicant
- Find lenders who accept maintenance payments or benefits as income
- Raise extra funds to pay your ex-partner their share of the equity
Buying a New Home After Separation
If you're buying a new property while still on a joint mortgage elsewhere, lenders will factor in those existing commitments. This can affect how much you can borrow.
Options include:
- Waiting until the existing mortgage is resolved
- Finding a lender who will 'disregard' the existing mortgage with evidence your ex is making the payments
Frequently Asked Questions
Confidential Advice
I understand this is a difficult time. I offer a confidential, sympathetic service to help you understand your financial options so you can plan your future.
Book a Free ConsultationYour home may be repossessed if you do not keep up repayments on your mortgage.
