The lending barrier
A separated parent of two has returned to permanent part-time work after an 18-month break. After three months in the role, she wants to refinance into her sole name and fund her former partner’s agreed share.
How we approached it
Compare lenders’ employment-history requirements and treatment of documented child support and family benefits. Confirm the employer evidence, ongoing income and household expenses. Coordinate the proposed buyout with the legal property settlement and assess the repayments and total cost of the proposed term.
The outcome
A suitable assessment could allow the parent to refinance and complete the agreed buyout, retaining the family home. Approval depends on sufficient accepted income and the transaction requirements.
What this means for borrowers
Employment tenure is only one part of the assessment. Benefits and child support may have different evidence and continuity requirements. A longer term can reduce regular repayments while increasing total interest.
Questions about this case
What income needs reviewing for this buyout scenario?
Permanent part-time earnings, documented child support and any eligible family benefits need to be assessed alongside expenses and existing debts under the selected lender’s requirements.
This is an illustrative scenario comparable to deals we have handled for our clients. Figures and outcomes are examples; lending remains subject to individual assessment.