10:17 AM, 4th April 2015, About 7 years ago 4
I wonder if there is any advice for my current, awkward, situation.
Just a bit of background story here, bear with me – Myself and my wife split in May last year (after her cheating revelation, don’t you just love them..) which left me in our family home as she moved in with her new love. We were also running a business at the time which has now been closed last week. Separation is happening and we have 2 properties in our names. One is the family home with about £68k equity, the other is a buy to let with little to no equity.
She would love to buy a bigger house with her new love after our separation is settled and things are divided. I would love to get rid of her but there is a problem. At this point in time I’m unemployed with little income. Im aware that to get her off the mortgage would usually mean buying her out which is usually done by refinancing but because as I’m unemployed this is a problem. Also I have my children 50% of the time which makes it even harder. The only positive is that our mortgage is a Woolwich Open Plan mortgage and we have access to £46k of immediate funds of equity.
Any ideas would be appreciated.