removing name for mortgage

gillian1971_2

I wonder if anyone can advise me. My partner (of 10 years) and I are splitting up. We jointly own our property, with a small mortgage (£30k), with value of property being £85K, and a mortgage to run for another 22years.
I do not work as I stay at home to care for our children aged 4 & 5 as well as my 16 year old from a previous relationship. My partner was in fulltime employment, but was made redundant at Christmas. We have TMPP, so the mortgage, life insurance etc will be covered by this, due to him now being redundant.

With him now being redundant, he could not afford to buy me out, and with me being a stay at home mum, I am not in a position to buy him out either. Although the mortgage / title deeds are in joint names, he is the one who had worked to buy this house, as well as using his inheritance to reduce the mortgage to the level it is at present. I therefore do not feel it is right for me to stake a claim in the property, and therefore I want to have my name removed from the title deeds and the mortgage as well, giving him sole ownership of the property (which incidently had been MY family home for 35 years).
How do I go about doing this?
I feel that as I have not contributed financially to the property, and given that the mortgage is currently being covered by the TMPP (which is in my partners name), that the only right thing to do is for me and the kids to move out and apply for a council house. I do not know where to live in the meantime (my mum who sold us the house, downsized therefor does not have room to accomodate us).
I dont know if the TMPP would cover the mortgage if he lived elsewhere until I get my own place, as we had just started to claim benefits.
Any advice would be welcome

skint_chick

I think you are being a bit hasty in deciding you don't feel you are entitled to any equity from your home. You have been a full time mum caring for your children - but they are also your partner's children and had he not had you to care for them he would have been paying childcare so on that basis I think you are doing yourself and especially your children a disservice by walking away with nothing!

Because he does not have a job when you apply to your lender to have your name removed from the mortgage they will ask about job situation as you have to provide payslips to show he can afford the mortgage on his own - obviously he can't do this without a job.

Be very careful about applying for a council house - removing your name from a mortgage is sometimes considered making yourself intentionally homeless and some councils might refuse to house you on this basis. I would get an appointment with your local CAB and contact Shelter - they are great for housing advice and will know the ins and outs of applying for housing. I wouldn't do anything before you have found out all your options for housing and benefits and getting the mortgage sorted - good luck!

cranezoe

you will have a tricky time getting re housed by the council, esp if you take your name off the mortgage - as skint_chick said it is seen as intentional homelessness.