Divorced Or Separating

Home Loans for Divorcees or Individuals Going Through Separation 

Going through a divorce or separation is a challenging time, especially when it comes to managing your financial future.  

At Sanford Finance, we specialise in helping individuals in these situations navigate their home loan options, offering tailored advice and access to a wide range of loan products from various lenders.  

We’re here to ensure you find the right solution to support your new beginning.

Home Loan Solutions for Divorcees or Separated Individuals: 

• Refinancing to Keep the Family Home: If you wish to keep the family home post-separation, we can help you refinance to buy out your former partner’s share. 
• Equity Release Options: Unlock the equity in your property to manage financial obligations or to fund the purchase of a new home. 
• New Home Loans: If you are looking to purchase a new property, we can guide you through the process, finding lenders that offer products suited to your current financial situation.

Key Benefits of Seeking Home Loan Advice Post-Divorce or Separation: 

• Tailored Loan Options: We work with a variety of lenders who understand the complexities of divorce and offer flexible loan terms to suit your needs.
• Access to Equity: Using the equity in your current home can provide funds for a fresh start, whether for debt consolidation, living expenses, or purchasing a new property. 
• Flexible Repayment Structures: Depending on your new financial situation, we can help find lenders that offer interest-only loans, offset accounts, or other features to reduce your financial burden. 

Eligibility Criteria: 

• Income Documentation: You will need to show proof of income, which may include payslips, Centrelink payments, spousal/child support agreements, or financial settlements.  
• Credit History: While some credit challenges can arise from separation, it’s important to manage your credit score to maintain borrowing power. We can help you find lenders who are flexible with credit situations. 
• Asset Division Proof: Documentation that outlines the division of assets, particularly the property settlement, will be required by lenders.

What You Will Need: 

• Loan-to-Value Ratio (LVR): Lenders typically offer loans up to 80-90% of the property value, depending on your financial situation and ability to meet repayments. 
• Deposit Requirements: Depending on your circumstances, a deposit of 5-10% may be required. This can sometimes be covered by your share of the equity in the family home.
• Refinancing to Buy Out a Partner: If you’re refinancing to retain ownership of the family home, you’ll need a property valuation, settlement documents, and current financial records. 

Common Financial Challenges During Divorce or Separation: 

• Dividing Assets: One of the major hurdles in a divorce is splitting shared assets like the family home. This can have a significant impact on your financial position and homeownership goals. 
• Changed Financial Circumstances: Reduced income or new expenses can make it harder to secure a home loan or refinance an existing mortgage. 
• Credit Impact: Divorce can sometimes result in missed payments or other credit issues, which can affect your ability to borrow. It’s important to address these early to maintain your financial health. 

How Sanford Finance Can Help: 

• Expert Mortgage Advice: We’ll assess your situation and help you understand your borrowing capacity, whether you’re refinancing or buying a new home. 
• Access to a Wide Range of Lenders: As independent mortgage brokers, we have access to many lenders and home loan products, allowing us to find options that suit your unique situation. 
• Personalised Support: Divorce and separation can be emotionally and financially complex. We guide you through every step of the process, helping you secure a loan that aligns with your new financial reality. 

At Sanford Finance, we’re dedicated to helping you achieve financial stability during and after a divorce or separation. With our tailored advice and access to diverse home loan options, we’re here to help you move forward with confidence.