Remove name from mortgage

Toddy1_2

Hi there

My boyfriend split up with his girlfriend about a year ago and moved out of the house they both own. He has been renting a room from his friend and has not been paying the mortgage since about June last year - he paid it for about 5 months after the split to help with things, but seeing as though he hasn't been living there she has been paying the mortgage herself.

She hasn't wanted to remove him from the mortgage or sell the property for several reasons.

However the mortgage payments have gone up in the last month and she is now claiming that she cannot afford to pay them herself so something needs to be sorted. Either a) he pays some towards the mortgage b) he removes his name from the mortgage c) the mortgage is changed from his name to her current partner's name d) they sell the house

Can anyone tell me how much it would cost roughly to remove him from the mortgage or get the name on the mortgage changed and how long it would approximately take to sort it out.

Thank you in advance for your help!
Emma

Robert_Sterling_3

How much was paid for the house.
Who paid what as deposit.
What is the current value of the property.

Toddy1_2

Thanks for your reply

The house was bought for £129,950 I think 3 years ago-ish.. it might be worth around the same - it is an affluent area, plus they've done a little work to it so it might cancel out any drop in value.

I'm not sure who paid what for the deposit, it was also at a time when 100% mortgages were feasible!

My boyfriend isn't really too fussed about getting any money out of it - obviously it would be nice, but he would prefer just to be out and clear of it so he can move on with his life.

koexelek

He can only get off it, if her new partner is deemed by the lender to be a suitable replacement.

Robert_Sterling_3

I agree with the above poster.
The best of luck.
It gets a bit trickier if there is negative equity.

james3333

its not as simple as you may think, i had to do this at the beging of last year.
had to get solicitors, agreed payout sums ( to buy GF out of the house) fees from the mortgage lender, etc......... its not cheap put it that way, its actually easier if your married because everything can be split 50/50 between the two parties involved.
good luck with it all.