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Mortgage in both names

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Comments

  • myotai
    myotai Posts: 102 Forumite
    Thanks for replies. The fallout from the split dictated I got into debt trying to manage the mortgage. One CCJ and a low rating now...not hopeful re remortgaging.
  • Pixie5740
    Pixie5740 Posts: 14,515
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    Theres no such thing as a universal credit rating and people with checkered credit histories do manage to get mortgages. Get copies of all 3 of your credit reports (Experian, Equifax and Call Credit) and take them to an independent mortgage broker.

    You need to get this nipped in the bud. If you're this upset at your ex being entitled to half of £50k imagine what it could be like another 6 years down the line if she was entitled to half of £100k.
  • tlc678910
    tlc678910 Posts: 982
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    Hi OP,
    Sorry to hear of your difficult position. It is not likely you would get an interest only mortgage now as banks rarely give them out anymore.

    If you don't want to sell your house and can't afford a repayment mortgage I wouldn't rush into finding your ex at the moment. It could end up being her that pushes the sale, forcing you to leave your home if you can't afford to buy it now.

    Wait until you know you will be able to afford the home you want (whether it is this one or another). I think you mentioned that the rent for your house would be about the same as your mortgage so if you can't afford to buy your ex out and she does eventually get half the equity perhaps remember that your other option would be renting and you wouldn't build up any equity at all that way.

    Tlc
  • hazyjo
    hazyjo Posts: 15,468
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    Does your current missus know your ex is still half owner and still on the mortgage?

    As above, I'd be in no rush to find her if you can't get the mortgage in your name only or with your wife or you'll have to sell.

    Jx
    2023 wins: *must start comping again!*
  • Marvel1
    Marvel1 Posts: 7,157
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    myotai wrote: »
    Ha! Thanks....hoping for it not to happen again :)

    Hopefully you get it sorted soon.
  • getmore4less
    getmore4less Posts: 46,882
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    You need to find her even if you don't make contact until ready to take further action.
  • myotai
    myotai Posts: 102 Forumite
    hazyjo wrote: »
    Does your current missus know your ex is still half owner and still on the mortgage?

    As above, I'd be in no rush to find her if you can't get the mortgage in your name only or with your wife or you'll have to sell.

    Jx

    Yeah she knows. Always has done. Shes an estate agent herself.
  • Kynthia
    Kynthia Posts: 5,665
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    If you have a CCJ and poor credit then this will affect your ex too. As you have a joint mortgage she will be linked to your credit record and vice versa. Separating this link might be an incentive you can use when negotiating.
    Don't listen to me, I'm no expert!
  • FBaby
    FBaby Posts: 18,367
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    Now I am told I cannot sell, take a payment break or even re-mortgage without a signature from my ex partner.
    What is it you want to achieve? You’ve already acknowledge that you can afford to remortgage so are you looking at selling and rent? Despite the fact that you have a CCJ and therefore even renting might be an issue?

    What it sounds like to me is that you should be massively grateful to your ex that her decision to remain on the deeds/mortgage which means that you are able to stay in the property with your son and wife. It sounds like you are angry because you are still fully dependent on her and somehow think that she should still enable you to remain in your house, but without gaining any of the benefits.

    You can’t have it both ways. Either you take the steps to sell the house and face whichever difficulty you might encounter to re-house yourself with your family, or you accept that to stay where you are until you can move, she keeps some control and her investment up to 50% if she so wish to fight for.
  • I was in this position, but shock horror, I'm a woman and he left our flat and it took me 6 years to sell due to massive negative equity. So happens both ways...

    In the end, I found him, he signed and we sold, cost me about £3k, did he pay half? Did he hell... But yes he did ask about his share of any equity, funny enough he signed when I told him we owed money but I'd paid it if he just signed...
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