Removal of Name from Mortgage = lots of hassle

Just_Peachy

Please bear with me while i try to keep this story as short as possible:

My boyfriend split with his ex around 18months ago and she moved out of their house then (they had a joint mortgage). He has since paid the mortgage and all bills on his own.

They took out a 100% mortgage for £104,000 five years ago and currently the house is in negative equity (it’s worth about £97,000 now). She has been asking for her name off the mortgage for a long time (but did not want to contribute to the fees for this) and my boyfriend has now agreed to pay the fees for the change of party on the mortgage and the solicitor’s fees for the transfer of equity process.

He is trying to get the ball rolling but now she is saying that she wants some money from him as she lived in the house for three years and contributed toward it. There was no deposit put down and the house is in negative equity, so am I right in thinking that he doesn’t owe her anything? If he was to sell the house then she’d be lumbered with half the negative equity debt, so how can she be demanding that he owes her money? I am getting really frustrated with this situation and it’s only the start of the process L

What can we do to prove that she is not owed anything? Any advice on this situation is greatly appreciated.

Thanks in advance.
JP

VIGILANT22

If she wants to be awkward and receive a bill, she can force the sale of the house.
To have this transferred solely to yr bf's name 1) she will have to agree 2) the lender will decide of your bf's salary/commitments etc are sufficient to support the mortgage in his name only, otherwise they will refuse permission.
Best dealing with ex thru a solicitor, however before incurring any costs he should make sure the lender would agree to transfer to him........

Just_Peachy

VIGILANT22 wrote: »

If she wants to be awkward and receive a bill, she can force the sale of the house.
To have this transferred solely to yr bf's name 1) she will have to agree 2) the lender will decide of your bf's salary/commitments etc are sufficient to support the mortgage in his name only, otherwise they will refuse permission.
Best dealing with ex thru a solicitor, however before incurring any costs he should make sure the lender would agree to transfer to him........

Thanks, he is planning on putting his Dad on the mortgage so they both should get approved.

So that side of things should be fine, it's just her demanding that he owes her money that's causing the problem. She wants her name off the mortgage but wants money from it - i think he should get the house valued to prove it's in negative equity and then maybe go to a solicitor, would a solicitor put it into writing that the house in negative equity and she is not owed anything if her name is removed? also does anyone know how much a solicitor would charge for doing this?

Cannon_Fodder

He needs to counter her demands, with a his own demand for £3,500, if she wishes him to "take the burden from her".

If she wants to back-date her mortgage payments, she can take it on herself...