Partner still on a mortgage with his ex

clairetelche1

Hi
My partner and I have been to gether for a year and a half (although we've known each other for a lot longer) and live together in my house but we'd like to buy a house together. However he still has a mortgage with his ex and is having some problems.

He hasn't asked for any money, they don't have any children together and he has only taken his clothes and TV from the house.

He spoke to the mortgage company but they said he couldn't get his name taken off the mortgage without his ex being granted a new mortgage solely in her name. After 6 months or so of asking, his ex finally went to see the mortgage company and was told she could have a 90% mortgage - which was do-able as there was apparently enough equity to cover the 10%. This offer was then withdrawn and they only offered an 85% mortgage and she has consequently dragged her feet as she doesn't want to pay the extra.

My partner has now had to go to a solicitor (mainly on my insistence - I thought a year was more than long enough to have waited!!) who wrote and told her that she had a fortnight to start sorting finances or a sale would be enforced. However that was over 2 months ago and his ex has come up with various reasons not to have sorted it (holidays etc). Apparently her father has offered to go as guarantor for the mortgage.

I wouldn't want to see anyone forced out of a house but their split was a mutual decision and I feel that we can't move on because of this.

Does anyone know where we stand with this? Obviously every solicitors letter that gets bounced back with another excuse is costing us money and I'd like this sorting asap.

Any advice would be appreciated!

Claire

Conrad

We arrange mortgages for people min your other halves position all the time. Some lenders pay little attention to the existing mortgage. Of course the application has to be made very carefuly, but is doable.

His ex could drag this out over a very long time, and this benefits lawyers who have weekly performance meetings with thier bosses to see how much fee income they have generated!

clairetelche1

Thnks Conrad - my worry with us getting a mortgage together before he is off the one with his ex is that should she stop paying her bills he'd still be liable and we wouldn't be ale to cover any missed payments if we move up the property ladder and get a bigger mortgage ourselves - very frustrating!!!
Claire

Person_one

Why doesn't your partner go halves with her on the extra 5% she needs? They'll both benefit from that.

clairetelche1

Because (not wanting to sound petty) he's already walking away with nothing - no equity cash, no house contents... and he paid half of the bills for the first 6 months after he moved out. He's also still paying for a kitchen in the house! I kind of see your point but we're trying to save for our own deposit (there's very little equity in my house so it's almost like being first time buyers!) and paying solicitors fees to try to get this sorted so it'd be a real stretch to pay that.

Claire

Person_one

I guess you have to weigh up the time it may take, the solicitor's costs you might incur, the costs involved if you do have to force a sale which will be significant and figure out which is easier.

Is there any equity in the property? Bear in mind that a sale could take a very very long time and they might not get the price they hope for.

clairetelche1

I can see what you're saying - I guess our principles are standing in the way too. Forcing a sale would be a nightmare - my partner has already told her (silly in my opinion but hey hum, not my decision) that he doesn't want any money from the house so on that count we're not bothered what it sells for. However, I do forsee her holding out indefinitely for the highest price which may never come. As it stands we simply don't have the money to offer her 5% and to be honest it would really stick in my throat if we did! The only option would be a loan and that would again stand in our way when looking to move on!!

Person_one

I take it there was nothing put in writing when they bought the place about what would happen if they split?

If I was your partner, I would take what was rightfully mine from any equity, because you can be pretty sure that if there was NE and a sale left them owing the lender a shortfall that he wouldn't be let off from paying it! Who put what in at the beginning?

I guess your only option really is to be patient and wait for a sale. If you don't have the money for the 5% then I imagine you're a fair way off having a deposit for a new place so at least it won't be holding you up too much.

Can I offer a word of advice? When you come to buy with your partner, please have a declaration of trust drawn up outlining what will happen should you split. You wouldn't want to go through all this again would you?!

clairetelche1

You're right - I also think he should take what's rightfully his but he won't - saying he doesn't want anything from her etc. I've tried explaining that it's his right but he's having none of it.

We're doing alright on the saving front - more the principle of not giving her any money when she's already got everything.

One of the main problems is that we'd like to put my house on the market and look for another but we don't want to put an offer in anywhere because it wouldn't be fair on the vendor if we have to wait a long time for this to get sorted. Similarly - if we put mine up for sale and it goes quickly then it's unfair on the buyers.

We'd love more space though and, as he's paying half the bills etc then we'd like something that's jointly ours - preferably soon.

I have no wories that should we split things wouldn't be fairly distributed. He's been ridiculously kind natured about all of this at the moment and hasn't asked for a penny from his ex and so I'd not anticipate anything but a fair split if the worst happened with us.

Person_one

clairetelche1 wrote: »

You're right - I also think he should take what's rightfully his but he won't - saying he doesn't want anything from her etc. I've tried explaining that it's his right but he's having none of it.

We're doing alright on the saving front - more the principle of not giving her any money when she's already got everything.

One of the main problems is that we'd like to put my house on the market and look for another but we don't want to put an offer in anywhere because it wouldn't be fair on the vendor if we have to wait a long time for this to get sorted. Similarly - if we put mine up for sale and it goes quickly then it's unfair on the buyers.

We'd love more space though and, as he's paying half the bills etc then we'd like something that's jointly ours - preferably soon.

I have no wories that should we split things wouldn't be fairly distributed. He's been ridiculously kind natured about all of this at the moment and hasn't asked for a penny from his ex and so I'd not anticipate anything but a fair split if the worst happened with us.

I hate to be a downer, but I bet that's what he and his previous partner both thought at the time.

Please please protect yourself! The nicest seeming person in the world can do things you'd never imagine, and as an unmarried couple you're completely unprotected.

clairetelche1

Hi - I do understand where you're coming from and neither of us are going into this with rose tinted specs on. However, his history and the current situation indicate that he wouldn't shaft me financially. He's not shafted the ex (who didn't treat him very well) so I'm fairly confident that he wouldn't do it to me.

Just after any thoughts from anyone who's maybe been in a similar position - is there anything we can do at this point other than wait it out and trust the solicitor to chase the ex???