Capital raising to pay off ex Spouse

Posted on 6 February 2011 by Michael Balshaw


I am divorced from my wife but finances have yet to be sorted. She has agreed to £30,000 settlement which I don't have. My house is worth £100,000, I would like to raise £45,000 to pay her off using the rest to renovate my house thus increasing the value. I'd be most grateful if you could please advise.

Michael,

It should be possible to arrange a mortgage to do exactly what you wish. Ultimately it will depend on your income, age, credit record and your house all being suitable for mortgage purposes.

I believe you would benefit from speaking to one of our independent mortgage advisers. If you call on 0344 346 3672 and tell the adviser the date of your question, they will be able to look at your situation and take it from there.

Peter

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