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My ex-partner wants to come off our mortgage, can I get a mortgage in my name?

The short answer to that is maybe.

It would depend on several factors. The lender may have relied on both your incomes in giving you the mortgage.

The lender would need to establish your income, outgoings and the term you want to repay the mortgage over.

Providing you can afford the mortgage on your own and meet the lenders underwriting criteria then there is no reason why you would not be considered.

Another thing lenders would also take into consideration is your credit history.  If you have missed any payments, made late payments or taken payday loans this may restrict your choice of lenders; or may mean you cannot obtain a mortgage.

If you are splitting the equity (the difference between the property value and the mortgage amount) and one person is buying the other out, then because you have less equity than before you may fund that the interest rate on the new loan is higher than before.

It always pays to look around.  A new product may even have a period where the interest rate charged is lower for a few years.

This can keep payments low while you get back on your feet and might help with something like you having somewhere to sit in your home!

Family Building Society
Ebbisham House
30 Church Street
Epsom
Surrey KT17 4NL
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