- Posts: 4
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That is a common predicament. Mortgage companies don''t really care about your divorce. All they care about is their own risk. Usually a person can borrow 3.5x their salary. If the outstanding mortgage is more than 3.5x your salary then they will probably refuse you. Speaking to someone more senior won''t help - it''s their choice to offer you a mortgage or not.
my mortgage company they said I would have to reapply as a new applicant for a mortgage and that their system suggested that i couldn''t afford the mortgage and therefore they wouldn''t grant me one - which seems really unfair - is this really the case or should I try and speak to someone more senior?
No, a court looks at the figures at the time it is asked to look at the figures. It does not back-date them to separation, divorce, or any other prior date. However the fact that your ex has been getting on just fine for 3 years does add weight to your case. He can''t really claim a "need" for equity from the house if he''s been perfectly OK for 3 years, can he!
the divorce was granted in 2009 at which time the mortgage was £157,000 and the valuation was pretty much what it still is - would the court take this into consideration
Yes. But court is expensive. Lets say you get everything which is likely, your legal fees might be £5k. So as you can see you''re better off giving him £3k in a brown paper bag to make himself scarce.
I don''t want to be tied to him for the next 20 years and want this sorted now - will the court just deal with the facts of the here and now?