| Property | Four-bedroom detached house |
|---|---|
| Location | St Albans, Hertfordshire |
| Client | Separated parent, employed, receiving child maintenance |
| Product | Remortgage |
The challenge
Following a separation, the client wanted to keep the family home and remove her former husband from the mortgage. Her salary alone was not enough with some lenders, and the existing lender would not count maintenance income.
What we did
We found lenders that accept court-ordered or formally agreed child maintenance as part of affordability. We worked with both parties' solicitors to align the remortgage with the transfer of equity and the financial order. The application included the consent order and evidence of maintenance received.
The outcome
The client remortgaged into her sole name and released enough equity to settle her former partner's share.
Remortgage adviceSwitch to a new deal, release equity or change terms when your current mortgage deal ends.
Learn moreImportant: Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a fee for mortgage advice: up to 1% of the loan, typically £500.