Hi All,
My wife and I are sadly separating and she would like her share of the house. I understand that I need to apply for a new mortgage but does mean I can also pay off more of the house value to reduce my mortgage. The mortgage was 96k we have paid around 11k of this. Do I then need to apply for a mortgage of 85k? I have enough savings to pay my wife 8k and would then like to pay another 10 to bring the.mortgage right down to 75k. Is this possible?
My wife and I are sadly separating and she would like her share of the house. I understand that I need to apply for a new mortgage but does mean I can also pay off more of the house value to reduce my mortgage. The mortgage was 96k we have paid around 11k of this. Do I then need to apply for a mortgage of 85k? I have enough savings to pay my wife 8k and would then like to pay another 10 to bring the.mortgage right down to 75k. Is this possible?