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Offset mortgage maybe an idea,?

  • Tinajinks
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6 months 4 days ago #511351 by Tinajinks
Offset mortgage maybe an idea,? was created by Tinajinks
So my scenario is my husband and I are separating.
Mortgage owed..£84k.
My inheritance..(not in my account)£60k.
I want to keep my home with my daughter (10) for now.
Income... early retirement from ill health and child benefit £660.
My husband wants to get his own place . I rang my mortgage company and they said no to me having the mortgage alone. Their only idea was to have a guarantor (joint borrower sole proprietor)
I don't know anyone. If I asked my husband that'd hinder him getting his own mortgage, he earns 35k.
Reading up I came across offset mortgage. I was going to give my husband part of the equity now so he can set himself up. Then owe him the remainder on completion of sale, whenever that may be.
Someone else mentioned I should maybe have a loan instead?
Thoughts pleeeeasse

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  • WYSPECIAL
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6 months 3 days ago #511352 by WYSPECIAL
Replied by WYSPECIAL on topic Re:Offset mortgage maybe an idea,?
You need to post more details about ages, incomes and all assets.

Are you in receipt of a pension? You mention I’ll health retirement. Will you never be able to work again? Do you receive benefits as a result of this?

Are you hoping to ring fence your inheritance and not include it in the pot for division?

Is house bigger than two bedroomed? This may be an issue if it is the biggest asset and there will be the argument that it will be easier for you to run somewhere smaller if you are too ill to work especially if your illness is progressive.

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6 months 3 days ago #511353 by Tinajinks
Replied by Tinajinks on topic Re:Offset mortgage maybe an idea,?
My pension is 580pcm. I'm 52. Yes I will be able to work. I was advised by a solicitor to put my inheritance in another account. I receive no benefits at the moment.its 3 bedroom. My daughter is 10 so I wanted keep it for stability for her. ...I'm entitled to until she's 18.

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  • Rickoshea
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6 months 3 days ago #511354 by Rickoshea
Replied by Rickoshea on topic Re:Offset mortgage maybe an idea,?
“Entitled”

You either need a new solicitor or to stop reading the internet

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  • dmac
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6 months 22 hours ago #511387 by dmac
Replied by dmac on topic Re:Offset mortgage maybe an idea,?
apply for cms now you get 12% of his salary
weekly
ask him to give you the home and Keep your inheritance and half his pension surplus over yours.
your disability and child will get you that in court, unless he is in debt

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