What happens to my interest-only mortgage if I buy out my partner after a divorce?
If you buy out your partner and transfer the mortgage into your name, the interest-only mortgage can remain in place, provided your income is sufficient to cover the full costs. The bank will conduct a new assessment of your financial situation. You can choose to keep the interest-only mortgage or to pay off part of it. I’d be happy to help you make the best choice for your situation. Schedule a no-obligation appointment.
More questions about divorce or separation
- Are you still entitled to mortgage interest deduction after a divorce?
- Do I need a notary to change the mortgage in a divorce?
- What about mortgage interest deduction after a divorce?
- What happens to home equity when buying out a partner?
- What if I do not meet the income requirements after the divorce?
Still have a question?
Is your answer not listed? Feel free to contact me — I am happy to help you further.
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