Separating with a shared mortgage
Going through a separation or divorce is never easy. There are many things to consider, including your mortgage. I can help you navigate the financial aspects of your separation, ensuring your mortgage and insurance needs are taken care of during this challenging time.
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Taking control of
your finances during separation
Separating and deciding what to do with your shared home can be challenging. Who will stay? Is buying out your partner feasible? Or will you both move on? And how will this affect your mortgage? I can help you navigate these questions and make the best choices for your individual circumstances, so you can move forward with confidence.
Keeping your home: How to take over the mortgage after separation
To keep the house, your income must be sufficient to support the full mortgage on your own. You'll need to apply for a new mortgage, and the lender will reassess your financial situation and ability to make the payments. It's crucial to get expert advice to understand your options and ensure a smooth transition.
Selling your home after separation or divorce
Selling your home after separation? If your home is worth more than your outstanding mortgage, you have equity. When buying a new home, you're generally expected to use this equity towards your next purchase.
Want to maximize your buying power and minimize costs when purchasing your next home? I'll guide you through the process of leveraging your home equity
effectively.
Read more about using home-equity.
Keeping the property and mortgage undivided after separation
Separating while sharing a home can be challenging. Clear communication and agreements are crucial to avoid future disputes. I can guide you through this process and, if needed, connect you with experienced mediators to help you reach fair and amicable solutions.
Mediation: Find common ground and reach agreements amicably
I understand the challenges of separating with a shared mortgage. I can connect you with experienced mediators who can help you reach fair and workable agreements, ensuring a smoother transition for both parties.
"I collaborate with experts like Richard Gregoire and Ingrid Doremalen on mediation and
amicable relationship terminations. Though we come from different fields, we share a
commitment to our clients' financial well-being, which creates valuable synergy and strengthens our collaborative approach."
Join over 600
homeowners who have chosen Roling Advies
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Communication with Shariff was excellent. I could easily reach him via email, WhatsApp, or phone, and he always responded promptly. He was also great at explaining things clearly whenever I had questions.
Thom
Highly skilled and professional advisor! They possess a wealth of knowledge and experience, and actively contribute ideas tailored to your unique circumstances. The application process was incredibly quick too!
Jodie
Explain arrangement in mortgage and seperation
It's a Dutch regulation that allows mortgage lenders to deviate from the standard lending criteria in certain situations, if they can provide a clear explanation (or justification) for doing so. Don't assume you can't keep the house after separation just because of the mortgage. The 'explain arrangement' can help you qualify even if your individual income is lower than the usual standards. It's worth exploring this and other options with a financial advisor.
With this arrangement, the bank looks at your specific situation and may, under certain conditions, more financial scope is offered. Based on the explain scheme, other standards may be used when assessing mortgage affordability
Shariff Roling | Mortgage advisor
Separating? I can help
you understand your financial options.
Mail to: info@rolingadvies.nl/en
Or call: +31 15 700 9756
Free of charge and non-binding!
Frequently asked questions about mortgage advice during separation or divorce
If one of you moves out of the house, he or she is generally no longer entitled to hypotheekrenteaftrek for that portion of the mortgage. The remaining partner can only continue to get interest deductions if the income is sufficient to bear the full mortgage costs. The belastingdienst may have specific rules in this regard.
Yes, if you want to adjust the mortgage, such as when transferring to one name or buying out your partner, it is often necessary to use a notary. The notary takes care of the adjustment of the title deed and the mortgage deed, so that everything is legally recorded correctly. I unburden you by guiding you through the entire process. For example, I have contact with the mortgage lender about how your modified mortgage should be and I make sure that the notary receives the correct information and instructions for modifying the deeds.
If you do not meet the income requirements, we may be able to use the 'explain scheme'. This arrangement offers more flexibility in assessing your mortgage application, taking into account alimony or other financial resources. I would be happy to help you identify your options.
The deed of partition is a notarized document that records how joint property, such as a house, will be divided after a separation. If you or your ex-partner continues to live in the home, the deed of partition makes arrangements for the home to be placed entirely in the name of the continuing partner. This document is essential to legally establish ownership and meet bank and land registry requirements.
If you buy out your partner, you must pay out his or her share of the home equity value. The home equity value is the difference between the current value of the home and the remaining mortgage debt. Suppose the home equity value is €50,000, you must pay your ex-partner €25,000 if you each own half. You can finance this amount by taking out a new or increased mortgage.