There’s no doubt that getting a divorce is stressful. It’s even more stressful if you need to buy property from your ex, during the dividing of assets. It’s probably the the last time you feel like going through the hassle of applying for a home loan. With so many things that can affect the income, it’s important to take all the right steps.
Determining your borrowing capacity during a divorce
If you’re buying a property from your ex, it’s very important that you find out your borrowing capacity. You should take this step as soon as possible. Basically, this lets you know how much you can borrow. In turn, this lets you work out if you can actually afford to buy out your ex.
A number of factors can influence your borrowing capacity. Obviously, your income and expenses have a large
impact on how much you can borrow.
What you intend to do with the property also has an impact. For example, the amount you can borrow varies depending on whether you’re going to live in the property, or whether you want to rent it out as an investment property.
It’s important to understand what things will affect your borrowing capacity, before you apply for for a home loan. Otherwise, you may find yourself declined, or unable to borrow the amount you need.
A helping hand during a difficult time
At Bee Finance Savvy, we understand how difficult it is to find yourself needing a home loan during a divorce. We’ve had extensive experience with helping numerous clients navigate this difficult time.
If you’d like to understand your options for getting a home loan during a divorce, including your borrowing capacity,
Bee Finance Savvy is here to help! For an obligation free consultation, why not call our friendly broker Desiree.
Desiree is based in Sydney’s beautiful Sutherland Shire, but works with clients all across Australia.
To find out more, call or text Desiree on 0455 131 937 or 1300 140 554. Desiree can also be reached at firstname.lastname@example.org . Alternatively, you can fill out the contact us form on this site.
If you’d like to hear from just some of our satisfied customers, take a look at our reviews on WOMO https://www.wordofmouth.com.au/reviews/bee-finance-savvy-miranda
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