Is Your House Tying You Down?

Unfortunately, sometimes “happily ever after” doesn’t last forever. We originally met Veronica and Tom through one of our realtor partners, with whom they were shopping for their first family home. They found a property they loved with a suite as a mortgage helper and put in an offer. Our team secured them a mortgage with a monoline lender that would allow them to meet their financial goals as their family matured.

Fast-forward a year, and our client care liaison was making her annual check-in call to Veronica and Tom. She was surprised to hear that they were in the process of separating and would be selling the house they had moved into just the year before. We offered to once again assist each of them with financing for their separate properties; since they already knew us and had a history of working with us, we would be able to make the process go as smoothly as possible for them.

Our brokers met with Tom and Veronica each separately to determine what they would be able to afford in the Victoria real estate market and how to meet their new goals moving forward. We brought our previous experience in dealing with separating and separated couples to the process and advised them what documents a lender would need to see in this situation to approve a new purchase for each of them.

Tom and Veronica each chose to work again with the same realtor partner who had introduced them to us and having that relationship in place meant that communication was frequent between the Auxilium team and their realtor. Each of them choosing to continue working with us also meant that we could ensure the closing dates on sales and purchases, as well as the availability of funds for each of their transactions, would all line up.

In just 6 weeks, we were able to see both Veronica and Tom’s new home purchases funded; this allowed them each to have their own space and to continue the process of moving forward with their lives. Since they wanted to protect their children’s future finances in case an accident or injury should happen, we were also able to secure home insurance for each of them as well as life & disability insurance policies for each of Tom and Veronica that would cover their mortgages through Auxilium Insurance Services.

While ending a relationship can be difficult, it is worse when you feel tied to a piece of property with your former partner. There are solutions available and the Auxilium Team is here to assist and support you in financing your next home, providing insurance coverage, and investing in your future.

Call for your free consultation with a mortgage specialist at 250-590-6520 (toll-free 1-855-590-6520). Walk-ins are welcome at our 307 Goldstream Avenue location during regular business hours, and we can arrange appointments evenings and weekends to suit your schedule.

Auxilium Mortgage Corporation is based in Victoria, BC and works with clients locally and across Canada. The Auxilium team has over 100 years of combined financial experience and access to dozens of lenders to help you meet your goals.

This post reflects the best available information at the time of writing/last update. In order to ensure that you have the most up-to-date information, contact us to confirm the details for your specific situation.