Build financial independence after divorce or separation

Lenders look at the income available to you, such as salary, business income and certain other income sources, and whether it meets their requirements once your ongoing expenses and commitments are taken into account. A Rise High mortgage broker can review your position and explain how different lenders may assess your income, helping you understand what documentation may be required and how your borrowing capacity could be affected.

Joint home loans, personal loans, credit cards and other liabilities may affect your borrowing capacity until they are formally changed, repaid or refinanced.
A separation agreement alone does not necessarily remove your responsibility to a lender.
A Rise High mortgage broker can help identify the liabilities lenders are likely to consider and explain how they could affect refinancing, releasing equity or buying another property.

Not always.
It can be useful to explore your borrowing position earlier so you understand what may be possible before final decisions are made.
However, lenders may require documentation confirming the agreed property settlement or changes to ownership before a loan can proceed.
We can help you understand what information is available now, what may still be required and how the timing of your finance can align with the broader settlement process.

Your borrowing capacity will depend on your income, existing debts, ongoing expenses, deposit or equity, credit position and lender assessment criteria.
Changes such as moving from two incomes to one can significantly change what is available.
Rise High can check your current position and compare suitable lending options, helping you understand a realistic borrowing range rather than relying on assumptions made before your circumstances changed.

It can.
Lenders treat child support or spousal maintenance differently depending on whether you are receiving or paying it, how consistently it is paid and the supporting documentation available.
Your mortgage broker can explain how these payments are likely to be treated when assessing your borrowing position.

Not automatically. Even if your property settlement says you will keep the home, the lender will usually need to assess whether you can service the loan independently. This may involve refinancing or applying to change the existing lending. We’ll work through the options and lender requirements with you.

Your settlement can change the assets, debts and cash you’ll have, including whether you keep a property, receive equity or take on certain liabilities. That can have a big effect on what you can borrow.
Rise High can help assess your position based on the proposed or final settlement so you can understand what may be achievable.

Yes.
Joint credit cards and other shared credit facilities may continue to be treated as liabilities while you remain legally responsible for them.
Even unused credit limits can affect borrowing capacity with some lenders.
Fortunately, your broker can help you understand which facilities may need to be addressed before applying for new finance.

It depends on your circumstances and lender, but you may need evidence of income, assets, liabilities and living expenses, along with documents relating to your separation or property settlement.
Your Rise High mortgage broker can explain what is required and help you prepare an application that presents your updated position clearly.

It might. Relying on your own income can change both how much you can borrow and the repayments you can comfortably manage.
Rise High can reassess your position based on your own income, expenses and liabilities and show you which options suit you from here.

Potentially, but the timing and process will depend on the settlement arrangements and lender requirements.
Some lenders may need formal documents confirming how ownership and liabilities will change before proceeding.
We can work through the lending requirements alongside your settlement timeline, so you understand what needs to happen and when.

If your name remains on a joint loan, lenders may continue to treat that debt as your responsibility, even if your former partner is making the repayments.
This can affect your ability to borrow elsewhere, so your broker can help you understand how joint lending may be assessed and how you could separate your finances.

Whether you should refinance before buying depends on how your current property, debts and settlement are structured.
Sometimes, refinancing existing lending first may provide greater clarity around your equity, liabilities and borrowing capacity.
Rise High can review the bigger picture and help you understand the order of steps that may make sense for your situation.