{"id":84248,"date":"2022-12-01T15:36:32","date_gmt":"2022-12-01T15:36:32","guid":{"rendered":"https:\/\/ukcontractormortgages.com\/?post_type=case-studies&#038;p=84248"},"modified":"2022-12-01T15:36:34","modified_gmt":"2022-12-01T15:36:34","slug":"residential-remortgage-for-divorce","status":"publish","type":"case-studies","link":"https:\/\/ukcontractormortgages.com\/case-studies\/residential-remortgage-for-divorce\/","title":{"rendered":"Residential Remortgage for Divorce &#8211; Case Study"},"content":{"rendered":"\n<p><strong>The Client:&nbsp;<\/strong><\/p>\n\n\n\n<p>Our client was re-mortgaging their marital home as part of divorce proceedings.&nbsp; During the divorce, they were renting in private accommodation and then once completion of the remortgage had taken place, the subject property would become the client\u2019s main residence and his ex-wife would move out.&nbsp;<\/p>\n\n\n\n<p>The client was unable to wait for the divorce to be finalised as they required the mortgage offer in place as requested by the courts.&nbsp; The ex-wife was unable to afford to keep the marital home and the client didn\u2019t want to lose the property.&nbsp; The client was self-employed and the income evidenced for the last 12 months was failing affordability with many lenders.<\/p>\n\n\n\n<p><strong>The Scenario:<\/strong><\/p>\n\n\n\n<p>Upon assessing the application, we identified that part of the land had some commercial elements, therefore we were limited on lenders that we could approach on residential mortgage terms.&nbsp; Due to the constraints of the divorce proceedings, the client was unable to wait for the title to be amended and split correctly, separating the commercial and residential elements to the property. It became evident the client required a lender that would work on projected figures.<\/p>\n\n\n\n<p><em>Contact us today to discuss\u00a0<strong><a href=\"https:\/\/ukcontractormortgages.com\/\">Contractor Mortgages<\/a><\/strong>\u00a0and how we can assist you.<\/em><\/p>\n\n\n\n<p><strong>The Solution:<\/strong><\/p>\n\n\n\n<p>A first mortgage was raised for the client.&nbsp; The lender we recommended for the client was happy to assess the application taking the clients\u2019 current circumstances into consideration and the lender was happy to assess the remortgage on their residential terms.&nbsp; This then allowed the client sufficient time to remortgage on better terms later and to split the title once the divorce settlement and first charge mortgage had been finalised.&nbsp;<br><br>The mortgage lender was also happy to use clients projected income figures. The client completed an Accountants Certificate with an explanation from the accountant as to why the income had increased.&nbsp; The selected lender was happy to proceed, and the client was able to keep their marital home.<\/p>\n\n\n\n<p><strong>Summary:<\/strong><\/p>\n\n\n\n<p>Divorce proceedings are naturally usually very challenging and stressful for all parties involved and even more so when a marital home is involved. However, working a Mortgage Broker who has experience in being dealing with these complex and sensitive matters removes a significant amount of stress and enables specialist lenders to be sourced who understand the issues.<\/p>\n\n\n\n<p>If you\u2019re going through a divorce and are seeking some free advice and guidance regarding how the marital home could be potentially remortgaged &amp;\/or other properties being purchased with the divorce proceeds, then contact us today to speak directly with one of our CeMAP certified Mortgage Advisors. Call us today on\u00a0<a href=\"tel: 03330 169 646\"><a href=\"tel:03330169646\">03330 169 646<\/a><\/a>. Alternatively, please complete\u00a0<a href=\"https:\/\/ukcontractormortgages.com\/contact-us\/\">this short online form<\/a>\u00a0and one of our Advisors will call you right back.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Client:&nbsp; Our client was re-mortgaging their marital home as part of divorce proceedings.&nbsp; During the divorce, they were renting in private accommodation and then once completion of the remortgage had taken place, the subject property would become the client\u2019s main residence and his ex-wife would move out.&nbsp; The client was unable to wait for [&hellip;]<\/p>\n","protected":false},"featured_media":71720,"comment_status":"open","ping_status":"closed","template":"","tags":[556,134,2253],"acf":[],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.8 (Yoast SEO v21.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Residential Remortgage for Divorce - Case Study<\/title>\n<meta name=\"description\" content=\"Our client was re-mortgaging their marital home as part of divorce proceedings.\u00a0 During the divorce, they were renting in private accommodation\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ukcontractormortgages.com\/case-studies\/residential-remortgage-for-divorce\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Residential Remortgage for Divorce - Case Study\" \/>\n<meta property=\"og:description\" content=\"Our client was re-mortgaging their marital home as part of divorce proceedings.\u00a0 During the divorce, they were renting in private accommodation\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ukcontractormortgages.com\/case-studies\/residential-remortgage-for-divorce\/\" \/>\n<meta property=\"og:site_name\" content=\"UK Contractor Mortgages\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-01T15:36:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ukcontractormortgages.com\/wp-content\/uploads\/2020\/03\/house-4516176_1920.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ukcontractormortgages.com\/case-studies\/residential-remortgage-for-divorce\/\",\"url\":\"https:\/\/ukcontractormortgages.com\/case-studies\/residential-remortgage-for-divorce\/\",\"name\":\"Residential Remortgage for Divorce - Case Study\",\"isPartOf\":{\"@id\":\"https:\/\/ukcontractormortgages.com\/#website\"},\"datePublished\":\"2022-12-01T15:36:32+00:00\",\"dateModified\":\"2022-12-01T15:36:34+00:00\",\"description\":\"Our client was re-mortgaging their marital home as part of divorce proceedings.\u00a0 During the divorce, they were renting in private accommodation\",\"breadcrumb\":{\"@id\":\"https:\/\/ukcontractormortgages.com\/case-studies\/residential-remortgage-for-divorce\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ukcontractormortgages.com\/case-studies\/residential-remortgage-for-divorce\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ukcontractormortgages.com\/case-studies\/residential-remortgage-for-divorce\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ukcontractormortgages.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Case Studies\",\"item\":\"https:\/\/ukcontractormortgages.com\/case-studies\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Residential Remortgage for Divorce &#8211; 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