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Old 16-07-2016, 11:00 PM
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Join Date: Jul 2016
Posts: 1
Default Re-mortgage after divorce

Hi I am seeking helpful information regarding a tricky issue I have. I am currently recently divorced from my wife however when we were married we took a second mortgage on a new build property which by the time we separated was half built basically bricks and mortar. After a number of years of fighting we have finally sold our first property but we now have the issue of what to do with the half built one. It has been discussed that we could get a re-mortgage together along with a contract in order to finish the property and then sell it.

Therein lies my problem. Financially I do not have problems in obtaining a mortgage but during my several years of separation I have a partner and just recently an 8 week old daughter. I DO NOT under any circumstances want my ex wife to know about my daughter as it would cause absolute hell (my ex and I never had kids). Therefore I need to know how I can re-mortgage with my ex without her finding out or failing that if I claim not to have dependants is it likely the mortgage provider will find out.
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Old 14-09-2016, 05:04 AM
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Join Date: Nov 2013
Location: Hong Kong
Posts: 154
Default Re: Re-mortgage after divorce

Hi Jmoore,

Instead of getting another mortgage you would be best suited to getting a bridging loan to finish the property and then the repayment of the bridhing loan would be via the sale with the proceeds split between the two of you as you will both be on the title. Just have some lawyers sign up an agreement with your ex that you will arrange the bridging finance and then upon resale after the bridge costs and any other costs are paid you split the proceeds 50/50. If you need me to point you to a UK broker that can assist have a look here https://www.premierexpatmortgages.com

Regards

Ged
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