Name on mortgage ..........

nselby

Good Evening,

Hope someone out there can help, are you ready for the story.........

I purchased a house with a now ex, there was a declaration of trust signed, basically to give her the £150k she put into the house.

We split 2004, I tried to get my name off the mortgage but to no avail, so a solicitor advised me to can Bankrupt, so I did, July 4th 2006.

But suprise suprise my name i still on the mortgage, now my ex as got serious arrears, to the point were a court order for payments is in place.

I now want my name off, the the mortgage company say there is no way to get my name off, unless arrears are cleared, and all forms signed.......

...... is this correct.

I have made no contribution to the mortgage since i moved out, i don't want anything from the sale, i just want to move on, re build my credit and start a fresh with my new family, but at the moment thats not happening.

Can anyone one?????

Sorry if i ramble, if you need further info just ask, i really want to sort this out

silvercar

You need to speak to your OR. The OR should have taken over any beneficial interest you may have in the property, so really the property is owned jointly between the OR and your ex.

If there is negative equity (at the time of bankruptcy) and the property gets repossessed or sold, your share of the negative equity is written off in bankruptcy. You going bankrupt really lands your ex in the poo. The lender would pursue them for any negative equity as you were both jointly liable for the mortgage, you going bankrupt writes off your share as far as you are concerned, but leaves the lender able to chase your ex for all the losses.

The mortgage company may say they want to refuse to take your name off the deeds but the bankruptcy has an impact that the lender can't control. Any correspondance from the lender should be passed to your OR.

nselby

Does that mean my name should be taken off the mortgage?
There is no negitive equity, mortgage inc arrears £160k, house on market for £325k.
I just want my name off mortgage, so i can plan my future. I'm well on my way to having a good deposit, just can't get a mortgage whilst my name is on the other, plus with the credit crunch i'd struggle too