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Looking to take out a mortgage

  • 27-09-2016 10:24am
    #1
    Dub turned Culchie
    Registered Users Posts: 2 ✭


    Hi all, need some advice if anyone has been in this situation before. I am living separate to my legal partner but we don't have a legal separation. I want to take out a mortgage but I'm afraid they will come after me for half my house when we divorce. I have tried reading up online but I have found contradicting information. If I obtain a legal separation, can I have it as a term that they have no access to my property at time of divorce? Some sites say yes, others say no. I don't want to take out a mortgage and be paining it in full and then have to give them half it's worth in another two years when it's time to divorce.

    Any help will be greatly appreciated and I'm sorry if it's in the wrong forum.


Comments

  • #2
    phormium
    Registered Users, Registered Users 2 Posts: 3,345 ✭✭✭phormium


    You'll have to sort out the separation agreement before you get the mortgage and in particular in relation to any future property. Any bank is going to look for this as part of the conditions of the mortgage draw down for that very reason, to ensure the new property is yours only.


  • #3
    Trish56
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    You need to see a Solicitor asap to sort out a legal separation which will deal with all future properties either one of you will purchase in the future. Only when this is completed should you apply for a mortgage. As Phormium mentioned no lender will consider a mortgage application from you until you have a separation in place and they will look for a copy. If you are paying maintenance and a mortgage all of these will be taken into consideration when assessing your application.


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