GE Money Mort/Separation Problem

yorkygal

Hi Im after a bit of advice on behalf of my sister. Her and her husband have separated and she has been effectively kicked out of the family home along with their 2 kids. She rang GE Money regarding having her name taken off their joint mortgage. She asked if she could pay the arrears (which her ex is SUPPOSED to be paying but isnt) and an additional 6 months payments if she could have her name taken off it. She was told no because if he cant/couldnt keep up payments they would have to find the money from her?????

But surely people have their names taken off mortgages all the time and there must be a suitable solution???? She simply wants her name off their mortgage and to have no ties with him (money-wise)....can anyone give us some advice please????

seeya23

she can take her name off only when the arrears are payed off

not_tonight_josephine_2

seeya23 wrote: »

she can take her name off only when the arrears are payed off

Sorry but this is wrong - she can take her name off when the bank agree to allow it which they're unlikely to do.

I sympathise with her situation but looking at it from GE's point of view they would be mad to let her take her name off at the moment - her ex is clearly a high risk borrower if he's building up arrears and not paying them off, if they let her get out of the mortgage their chances of getting their money back are drastically reduced!

Can they not sell up?

yorkygal

not_tonight_josephine wrote: »

Sorry but this is wrong - she can take her name off when the bank agree to allow it which they're unlikely to do.

I sympathise with her situation but looking at it from GE's point of view they would be mad to let her take her name off at the moment - her ex is clearly a high risk borrower if he's building up arrears and not paying them off, if they let her get out of the mortgage their chances of getting their money back are drastically reduced!

Can they not sell up?

Im not sure whether they will/can sell, her ex is being as awkward as he possibly can about everything!!! Plus he has his own outstanding debts to pay which he wont because as I say he is an awkward piece of ****


So there is no way she cant get out of the 25yr loan which will continue around her neck

not_tonight_josephine_2

I believe it would be possible for her to force a sale but I think this could be long drawn out and expensive.

Is he paying her maintenance for the kids?

It sounds to me like she really needs to get some professional advice to confirm exactly what her rights and options are in this situation - i think she really needs to try to keep the mortgage payments up as this will be seriously affecting her credit rating which could make life difficult for her in the future.

yorkygal

not_tonight_josephine wrote: »

I believe it would be possible for her to force a sale but I think this could be long drawn out and expensive.

Is he paying her maintenance for the kids?

It sounds to me like she really needs to get some professional advice to confirm exactly what her rights and options are in this situation - i think she really needs to try to keep the mortgage payments up as this will be seriously affecting her credit rating which could make life difficult for her in the future.

He wont pay for anything...he has refused to pay maintenance for another child of his. I think its easy to say she should keep up payments etc but she was the only one paying for EVERYTHING out of her small wage while he saved his money for beer, and as she has left there she refuses to pay anymore, she has already cancelled the water, home ins, council tax, tv licence, and left it for him to sort out etc (which he wont he is only content in making her life a total misery ie mental abuse), he is supposed to be a grown man of 38!!!!!

not_tonight_josephine_2

I agree that it sounds like morally he should be the one to pay, but the fact is these arrears will cause a huge black mark on her credit file the same as on his so she needs to bear that in mind when deciding to stop payments on the mortgage - if she wants to obtain credit again in the next few years this will be a problem for her (particularly if she wants to buy another home at some point).

She needs some decent legal advice pronto - Citizens Advice may be able to help or many solicitors offer free initial consultations?

yorkygal

not_tonight_josephine wrote: »

I agree that it sounds like morally he should be the one to pay, but the fact is these arrears will cause a huge black mark on her credit file the same as on his so she needs to bear that in mind when deciding to stop payments on the mortgage - if she wants to obtain credit again in the next few years this will be a problem for her (particularly if she wants to buy another home at some point).

She needs some decent legal advice pronto - Citizens Advice may be able to help or many solicitors offer free initial consultations?

She is on a council waiting list as she cant afford to pay the mort. I didnt realise solicitors offer free initial consultations???? Would that be a 5min chat without actually coming up with advice etc????:)

Conrad

Keep in mind Solicitors may not come up with a different outcome, but for the trouble they will want fees.

In the end it has to be sold. It is highly unlikely the lender will allow transfer into his sole name - Solicitors seem often unaware of lender underwriting requirments, and come at things for a legal perspective, but if lender considers him high risk then there is no way they will allow your sister to walk away.

In the end it has to be sold, end of. Then any debts accrued will be allocated.

not_tonight_josephine_2

No, it's usually a 30 minute consultation - google solicitors in your area and many of them advertise a free consultation service on their website. Not sure how much advice they will actually give without being able to charge for it but it can't hurt?

I would also try to get an appointment with Citizens Advice. This guy needs to take some responsibility for his kids if nothing else!

yorkygal

not_tonight_josephine wrote: »

No, it's usually a 30 minute consultation - google solicitors in your area and many of them advertise a free consultation service on their website. Not sure how much advice they will actually give without being able to charge for it but it can't hurt?

I would also try to get an appointment with Citizens Advice. This guy needs to take some responsibility for his kids if nothing else!

Aye thats one of the reasons why they split up - were talking about a 'dad' who wants paying to look after his own kids :mad: