Capital Raising to Buy out an Ex-partner in Hull

We had done mortgages for Craig a few times in the past for him and his wife. So it was sad to receive a call to say he and his wife Emma had now separated. Craig wanted to transfer the house in Hull into his sole name. They had agreed to split the equity in their home between them 50:50.

The idea then was for Craig to arrange Remortgage Advice in Hull to buy out Emma. Pay off the current mortgage and raise a small additional amount to pay off a credit card debt.

Remortgage Advice in Mortgage Advice in Hull

Craig is an HGV driver, and he was concerned about whether he would get a mortgage in Hull or not. His credit history was excellent. However, he had changed employers a few times during the past 18 months, including a period of self-employment.

Back when Craig called, he was actually between jobs, but he offered a new role with one of the companies he had worked for in the past. I explained to Craig that while some Lenders need you to have been in your current job a certain length of time or require you to prove you have had 12 months’ continuous employment.

In any case, others can accept a job offer letter, coupled with a contract of employment signed by both employer and the new employee. When you remove someone from the deeds, this is called a transfer of equity, and there is more legal work to be done.

Specialist Mortgage Advice in Hull

Luckily, in this case, the split was reasonably amicable. The house got transferred into Craig’s name, and Emma received her share of the equity. Which she went on to put down as a deposit on an onward purchase. Suppose you can relate to this scenario and need some Specialist Mortgage Advice in Hull. Get in touch, and book your free mortgage appointment to see if one of our Mortgage Advisor in Hull can help.


Hullmoneyman.com & Hullmoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Should you have cause to complain and you are not satisfied with our response to your complaint, you may be able to refer it
to the Financial Ombudsman Service, which can be contacted as follows

The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
www.financial-ombudsman.org.uk

© 2022 Hullmoneyman

Hullmoneyman, 410 Wincolmlee, Hull, HU2 0QL.

Moneyman Logo







Moneyman Logo




Moneyman Logo

Ask Your Question





    Moneyman Logo

    Moneyman Logo







    Moneyman Logo

    Book your Free Consultation

    7 Days 8am - 10pm

    Moneyman Logo

    Moneyman Logo