My partner and I are separating. We are both named on KBC fixed rate mortgage for the last 13 years. We are selling the home and ex partner agrees that I am getting all profits from this sale to buy a house for me and the children (2 in Uni & 1 teen). The house is valued at 330,000. There is 185,000 outstanding on the mortgage. Term remaining is 11 years. I work permanent part time with an annual gross salary of 31,500. I have no other loans. I'm 50. Will I get a mortgage in my own name on these earnings with a deposit of approx 145,000 from house sale and 30,000 savings? Are there any financial pitfalls I might be missing in the house sale arrangement? I rang KBC today who mentioned 'transfer of equity', put me through to Sales where no one answered.
Thanks for any advice
Thanks for any advice