Yes, in many cases one partner can keep the family home by refinancing the joint mortgage into their sole name and paying the other partner their share of the equity. This requires demonstrating you can service the loan on your income alone. Lendology assesses your borrowing capacity across 60+ lenders to find the one that gives you the best chance of approval.
I was told by another broker I could not afford to keep the house. Jason found a way. The kids did not have to leave their home.
What income do I need to keep the family home?
You need enough income to service the full mortgage on your own, including any equity payout to your ex-partner.
As a rough guide, most lenders allow borrowing of approximately 6 times your gross annual income, minus existing debts. If the home requires a $500,000 loan, you would typically need a gross income of around $85,000 to $100,000 depending on your other commitments.
Can I use the Single Parent Stream to keep the house?
The Single Parent Stream is for purchasing a new home, not for refinancing an existing one.
However, if you sell the family home and use the proceeds to buy a new property, eligible single parents can access the scheme with just a 2% deposit and no LMI.
We are not just explaining the process. We arrange the actual finance: refinancing into your sole name, funding a partner buyout, or setting up a new loan independently after settlement. We work with a panel of over 60 lenders to find the one that fits your situation.
Once the legal side of your property settlement is resolved, the next step is usually a financial one. That is where we come in.
Jason and Steve also help clients with first home loans, refinancing, and investment lending at lendology.com.au.
Related guides
True wellbeing begins at home.
Ready to talk?
Book a time with Jason or Steve. Confidential. No cost. No obligation.