Divorce – Home Loans That Help Overcome A Difficult Time
Divorce is never easy, is often complicated and comes with a lot of decisions. For many people, it’s a time where they have to re-assess their lifestyles and financial goals and make the most of their assets. This can involve buying and selling property, or even one partner buying out the other partner’s share in their house. For this and many other eventualities, Origin Finance offers options.
Naturally, when a couple are married, over time they accumulate a range of joint possessions, cars, property, investment properties and the family home. These are invariably divided up or sold leaving one or both individuals needing to re-establish their life with the purchase of a new car, home and contents, placing the individual or individuals affected in financial stress.
More often than not, the partner purchasing the marriage home may need to borrow the required amount, and will need to take out a new mortgage. In some settlements, the home may be handed over as part of the settlement. The home may be fully paid for, or may still have repayments outstanding requiring the partner who retains the home to refinancing the home loan, possibly restructuring their debt at the same time to incorporate credit cards and other outstanding debts.
The partner who is leaving the home may then need to buy a new house or apartment and also need to start the process of investigating home loans and gaining approval for a specified loan amount.
No matter how the divorce cards fall, it is usually a stressful and financially difficult time. Sometimes your finance options after divorce are limited, therefore you need to sit down and discuss your options with a trusted financial advisor to format a workable plan that suits you.
If you’re looking to take out a new or refinanced loan, the consultants at Origin have handled a range of loans to suite your situation, have expert knowledge of hundreds of of loans, and can help you work out the best options to suit you.
To discover more information about home loans if you are going through a divorce, or on how we can assist you in making the best choices for your future, click on the links below or contact one of the Origin Finance brokers located across Australia.