Hi ,I am going through divorce - Will sell family home in 2013 when youngest leaves college - and will get 40 % of the 100 K equity in the house = about £40k at todays prices.
Trouble is I want to get myself a place now ! not in 2013 and I wondered if the bank would consider it as collateral up front If I signed something to say I,d hand it straight over to them in 2013 ??.
I have no savings but am en_title_d by law in the financial agreement of the divorce to my share of the house , So really I am good for what could be up to 50 grand by 2013.....What do you think the bank ,ll say ?????
Or should I seek the ilusive 100% mortgage ??