For many couples, the home represents a substantial financial asset, and selling it can be a critical step you’ll need to overcome in order to move forward. However, navigating the mortgage aspect of selling a home after a divorce can be complex. Let's explore some essential considerations to ease the process.

Couple talking with a mediator

Assess the mortgage situation

Before listing your home, it's crucial to determine the status of your mortgage. Gather all the relevant documents and review your mortgage agreement. Identify whether you have a joint or individual mortgage. Understanding the outstanding balance, interest rate, and terms will help you plan for the sale effectively.

Communicate with your ex-partner

Effective communication with your ex is vital during this process. If both of you are joint mortgage holders, discuss the options available. You can choose to sell the property and split the proceeds, or if one partner wants to keep the house, they may need to remortgage in their name.

Seek help from a mortgage adviser

Consulting with a mortgage adviser is highly recommended, as they can provide valuable insights into the local market, remortgaging, and the selling process. They will help you understand the implications of selling the home on your financial situation, and offer guidance on handling the mortgage.

Important information

Your home may be repossessed if you do not keep up repayments on your mortgage.

There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.

Related Articles

Divorce: what happens to the family home?

If you are getting divorced, one of the biggest decisions you could face is what happens to the family home.
Read more

How to buy or sell your house fast

With house prices on the up, now could be a good time to sell your house.
Read more

How to secure your new home

It's important to make your home's security a priority and not take it for granted.
Read more
My MAB app

Download the Mortgage Advice Bureau app

Our app is a digital mortgage coach designed to help you save up, plan, and track your home buying journey – whether you’re buying your first home, or just fancy a move.

We’ll guide you through step by step to ensure you always know what’s coming up next.

Apple app store logo
google play app download