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I need to remortgage to get my ex-wife off the property, but I've only been Self Employed 1 Year. Can I do this?

Posted on 8 July 2013 by Carl


I am desperatly in need of help before my situation engulfs me. My ex wife cheated on me and left me 3 years ago and I have been paying the mortgage ever since. She is now wanting off the mortgage and I want this too but the situation is really complex. I am self employed and started out only a year ago from being in a partnership. I got my mortgage when it was very easy and I cant get the mortgage on my own even though I pay it. Please help me get her off the mortgage?

Carl,

This is a common scenario for self employed borrowers, and one to which there's no easy answer. Whilst the major lenders whose decsions are based solely on the credit score and who tend to want at least 3 years accounts, are not likely to help, there are still lenders in the market who manually underwrite cases and can therefore look at each one its individual merits.

The area's that will influence a manual lender are loan to value (the lower the better), your previous employment experience (are you still in the same sector), where you are getting your business from, whether you have any contracts for work with specific companies, the level of income generated from your first year, as well as your overall credit history and current liabilities.

If you'd like to talk through your options with one of our consultants, then please let me know, and I'll organise a convenient time for one to contact you, and see if we can assist you.

Regards,

Simon

simon.collins@johncharcol.co.uk

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