Refinancing Mortgage Divorce

Refinancing Mortgage Divorce - Refinancing mortgage divorce packages are specialised mortgages for those undertaking or who have finalised divorce settlements. Refinancing mortgage divorce deals allow those involved with divorce to refinance their mortgage if they are not planning to sell the marital home. This is often necessary if the names on the mortgage deed are changed as a lender will consider this a new agreement with a different individual. Refinancing mortgage divorce packages may not be as easy to secure as other mortgage products for a variety of reasons.

If one party is staying in the marital home, some providers do not take into account divorce maintenance payments when assessing a remortgage. This can cause problems for the remaining home owner – particularly if they do not have their own income stream.

Although not feasible in all situations, some divorcees may continue to co-own a home and keep it for investment purposes, such as to let out. This may be an option if house prices are weak. In this case, a new mortgage may still need to be arranged as many lenders may not be willing to lend on the same terms when the use of the property changes. As the two owners may now have new, separate mortgages, a refinance mortgage divorce package may also be difficult to secure.

The assistance of a specialised mortgage broker can be helpful in securing a refinancing mortgage divorce product. Our advisers know the market inside out and have a number of industry contacts. This enables us to secure packages that may not be available on the open market. We have substantial experience arranging refinancing mortgage divorce deals and this enables us to have a good idea of the likelihood of you succeeding in an application. We will only recommend that you apply for a mortgage product if we genuinely believe you have a good chance of success.

If you need any assistance why not speak to one of our Mortgage Advisers by calling 0845 3 630 430 or Enquire Online.

To secure a refinancing mortgage divorce package which suits your needs, call us today. Our advisers look forward to taking your call.