Divorce - can I be forced to remain on the mortgage?

goose_163

All, sorry to hijack but i am in a similar position.

I left my wife 12 months ago and we are currently going through divorce.
She is in the house, and up until 2 months ago I was paying 50% mortgage. The house only has ~5% equity.
She wants to keep the house but cannot get a mortgage on her own. She can get one with her parents but that will be a short mortgage due to their ages.
She wants me to stay on the mortgage for 18months until our fixed term comes to an end.

I do not feel that I want to do this. Why should I be tied to a house I have no access or rights over.

The only way I would agree to stay on would be if I received some finacial compenstation for doing so (this would then cover the c/cards that were joint but in my name)

Has anyone used this approuch?

Person_one

goose_163 wrote: »

All, sorry to hijack but i am in a similar position.

I left my wife 12 months ago and we are currently going through divorce.
She is in the house, and up until 2 months ago I was paying 50% mortgage. The house only has ~5% equity.
She wants to keep the house but cannot get a mortgage on her own. She can get one with her parents but that will be a short mortgage due to their ages.
She wants me to stay on the mortgage for 18months until our fixed term comes to an end.

I do not feel that I want to do this. Why should I be tied to a house I have no access or rights over.

The only way I would agree to stay on would be if I received some finacial compenstation for doing so (this would then cover the c/cards that were joint but in my name)

Has anyone used this approuch?

Why? Because you took out a mortgage on it and agreed to pay for a certain number of years. Did you not understand what you were signing?

Honestly, if people want to retain the ability to walk away at any point they should just rent.

You do have access to and rights over the house by the way, just jointly with your wife so you have to sort it out between yourselves.

You can't be serious about 'financial compensation', you want your wife to pay the whole mortgage that you originally agreed to pay jointly and also pay you for the privilege?

kelloggs36

It depends on her income and whether they will entertain her father being guarantor - if he is very old, they may well refuse! Years ago when me and my ex split, we had a joint mortgage which he wanted out of. The mortgage co would not let him off it as I did not earn enough to get the mortgage on my own (even though I was actually paying it all on my own). He had to wait until the house was sold which was many years later - yes, there was negative equity which he was liable for.