D
duffy22
Guest
Hi All,
I am looking for a little advice if there is anybody that has some suggestions please pass them on.
My Mam and Dad have just got divorced.
There is me, my sister and my mam living at home.
The court have now ordered my Mam to pay my Dad €70,000 and if she cannot pay up within a month she is going to have to sell the house and give him 25% of the sale.
The house has been valued and is worth €400k
My mam currently earns 30k with overtime.
At the moment there is an outstanding mortgage of €52,000 with the royal bank of scotland.
The problem that we are having is that there were some loans out in the past some in both my Mam and Dads name that payments were missed.
The problem was that all of the other loans were just in my Mams name and then when my dad failed to contribute to them my Mam had to pay them back so she ended up missing some payments.
So my mams name is coming back showing a bad credit rating.
She has now cleared all of her debts and has no outstanding loans only the mortgage of €52,000.
She also has a partner that earns about 4-5k a month and has no debts or outstanding loans at all and he tried to get a mortgage with her for 130K in order to pay of the €52,000 in RBS and then pay €70k to my dad however they were refused.
The only other option available is to gp to a mortgage lender called start and pay an interest rate of between 6% to 9%.
I am just wondering does anybody have any ideas on how she can get a mortgage for 130K without going to start and paying a much higher interest rate.
Should my mams partner try to get a mortgage on his own or should they go and try again to get it together.
I would be grateful if you could pass on any advice that will enable my Mam to be able to raise the 130k.
I am looking for a little advice if there is anybody that has some suggestions please pass them on.
My Mam and Dad have just got divorced.
There is me, my sister and my mam living at home.
The court have now ordered my Mam to pay my Dad €70,000 and if she cannot pay up within a month she is going to have to sell the house and give him 25% of the sale.
The house has been valued and is worth €400k
My mam currently earns 30k with overtime.
At the moment there is an outstanding mortgage of €52,000 with the royal bank of scotland.
The problem that we are having is that there were some loans out in the past some in both my Mam and Dads name that payments were missed.
The problem was that all of the other loans were just in my Mams name and then when my dad failed to contribute to them my Mam had to pay them back so she ended up missing some payments.
So my mams name is coming back showing a bad credit rating.
She has now cleared all of her debts and has no outstanding loans only the mortgage of €52,000.
She also has a partner that earns about 4-5k a month and has no debts or outstanding loans at all and he tried to get a mortgage with her for 130K in order to pay of the €52,000 in RBS and then pay €70k to my dad however they were refused.
The only other option available is to gp to a mortgage lender called start and pay an interest rate of between 6% to 9%.
I am just wondering does anybody have any ideas on how she can get a mortgage for 130K without going to start and paying a much higher interest rate.
Should my mams partner try to get a mortgage on his own or should they go and try again to get it together.
I would be grateful if you could pass on any advice that will enable my Mam to be able to raise the 130k.