Calling all Mortgage advisers...........HELP!

devonmark

Thank you for having a look at my problem....I will try and be as brief as possible.

I am currently on a Joint Mortgage with my ex-partner. We split up early last year and my ex took on paying the mortgage. I have not had any dealing with the mortgage company for 10 months, no money has been paid by me towards the monthly payment for the mortgage and my ex has been paying it from her sole bank account.

I have asked on numerous occassions to be taken off the mortgage but she always gives a different reason for not being able to take it on herself. I have contacted a solicitor and been advised that a court will not rule for me to be taken off the mortgage because my young son lives in the house. however my ex has now moved another man in and has announced she is pregnant. I have contacted the nationwide and asked them the procedure and i am now dealing direct with them.

Now for my main question: I have moved in with my new partner who owns her house and has a small (52k) mortgage. the house has been valued at £165k and we are hoping to sell this house and buy a house together early next year. Would any mortgage companys/brookers be willing to lend us money (give us a mortgage) to purchase a house together even though i am still currently on another mortgage and have proof the mortgage isn't being paid by me. We are not wanting to buy a mansion and are only looking at borrowing approximatley £80k on top of the equity we already have. We are both in steady jobs earn a fair wage (45k jointly) and have excellent credit ratings.

We have discussed this greatly and its both what we want to do. (even though next time we will get legal papers in place so this can't happen again).

I know this is long winded and thank you for reading, any advice would be gratefully excepted.

Thanks in avance

Mark

Conrad

In theory you can have a second mortgage, but it needs care in placing the application or it will be declined. Find a very experienced mortgage broker (not an IFA that tinkers in mortgages). You really only have one shot at it so do it right first go.

Good luck.

herbiesjp

Agree with Conrad - in theory it is possible.

However I would be cautious as to the affordability here, as the mortgage in the background will be taken onto account - as you are jointly & severally liable even if you are not paying into that mortgage.

Discuss every single detail with a broker, to make sure nothing is left out, and them let the broker come back with any options, if there are any that are affordable. There would be no point in pursuing something that could find you in more financial trouble.

Nationwide would need your ex to meet their current lending criteria, either by herself or with her new partner. If she does not, then Nationwide will not allow you to come off the mortgage