Joint mortgage and separation

snowpoppy

Advice needed! my husband and i have a joint mortgage. I have recently left him. He remains in the property and is paying all the mortgage. On separation i was happy for him to keep the property with the intention that he would become a single mortgage owner. However he is disabled and is unable to find the funds for a mortgage on his own. I have recently found out that is is now 3 months behind on the mortgage. I need to know what affect this has on me and what my options are. I dont want him to be homeless and take the property away from him however i also dont want to be liable if the house is repossessed. Any advice is most welcome.
Thanks!

Let_Us_See

You are jointly responsible for the mortgage and any missed payments, defaults etc, will also be registered equally against yourself. Only the mortgage provider can release you from the mortgage and they are not likely to do this whilst the monthly mortgage payment cannot be met and is in arrears.

snowpoppy

Thank you! If all arrears get paid to date what are my options for getting off the mortage? Is the only option for him to be taken on as an individual mortgage owner?

Let_Us_See

Basically, yes. Before a lender would release you from your joint mortgage, your husband would have to prove (to the lender's satisfaction) that the mortgage is affordable both now and in the future.

However he is disabled and is unable to find the funds for a mortgage on his own. I have recently found out that is is now 3 months behind on the mortgage.

Unfortunately, you have answered your own question.

Have you considered selling the property and your husband downsizing to a property that would be affordable and in his own name?