09/04/2002 - A 'New Start' For Divorcees
A new mortgage product has just emerged, specifically targeting divorced couples. The mortgage is for divorcees wanting to buy a property but are still responsible for the mortgage on the former matrimonial home. This mortgage product allows the amount paid on the current mortgage to be offset from monthly income (like a loan would be), rather than deducting the full amount of the outstanding loan, before calculating what can be borrowed. By treating the existing mortgage in this way, divorcees looking to buy a second home will be allowed to borrow more than before.Contact us if you would like an information pack.
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