Can we help our daughter buy a new home, before she comes off the marital home?

Posted on 7 July 2013 by Barbara

My daughter is divorced (Decree Absolute) but for whatever reason, her ex has not signed his part of the Consent Order which would conclude the finances and ultimately remove her from their joint mortgage. He agreed via his solicitor to pay her the £15k she wanted and she has signed her part of the Consent Order to this effect, but he has not handed over the money which would enable her to move on and buy another property. He works for the family firm earning £40k+ and could easily remortgage-there is also a lot of equity there. My question is, in the meantime, we are seeing suitable properties being sold because she can't proceed. She earns £30k and we could cover the missing £15k plus say another £20k. My question is, is there a way she can purchase another property, probably with us involved, whilst this is sorted out but which we could withdraw from ASAP when all is hopefully settled with ex.


Without knowing the actual purchase price you are looking and therefore the loan needed by your daughter, I can't say anything too specific, though on the face of it this is something that we should be able to assist you with.

There are a few options to look at, including you acting as a guarantor for your daughter, or even going on the mortgage, but not on the title deeds. Because of the nature of the case, with your daughter still on the marital mortgage, I think it's more likely that we'd be talking to a lender who manually underwrites applications and can therefore take a more sympathic view of the case.

Let me know if you'd like to talk further about your enquiry and I'll arrange a convenient time for one of our consultants to contact you.



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