Advice please seperation related

cstreames

HI all i own a house between myself and my wife, we seperated a while ago and she has agreed to hand the house over to myself without any finacial benefit to herself.

The problem i have is that my income alone does not meet aliance and L's requirements. She has agreed to remove her name and have my new partners name on the mortgage and deeds but due to errors long before myself l my new partners credit rating is extremely poor and no one will touch her with a barge pole.

What can i do? Can there be some sort of legal agreement?

Look forward to any help

Chris

thorsoak

Looks like you might have to sell it then!

cstreames

I wish to live in the house myself with my new partner, at the moment i am investing alot of my own money into the house as there was a huge outbreak of dry rot and the whole of the ground floor is a write off. So selling is not an option.

I was hoping that there could be something legally binding to stop my wife from changing her mind and insisting on selling once the house is fixed up.


We are totally amicable and she has agreed in principal that her name would stay on the mortgage untill it can be replaced (within a reasonable time frame ) we both understand that she would liable and trust each other. But it would be nice if there was some sort of legal document which could help the situation.

thorsoak

I don't understand. You and your new GF are living in the house that was bought by you and your ex-wife - correct?

Your ex-wife is prepared to remove her name from the Land Registry documents and mortgage and your new GF's name will be added instead - but you want your ex-wife to continue to pay the mortgage with you because of your new GF's bad credit record? Is this the case?

Where does your ex-wife live now? Do you contribute to her living expenses?

thorsoak

Where does your ex-wife live now? Do you contribute to her living expenses? Are there children? If there are, who do they live with?

cstreames

No children, i will be paying for the mortgage with my new partner my wife walked out and moved in with another guy and the house has been empty and we have been splitting the mortgage. Me and my new partner have not yet moved in due to the work needed but we hope to in march. Hope im making sense

pupsicola

I would go and speak with alliance and leicester and explain the situation in full to them. If you and your new partner can afford the mortgage then maybe they will find a way around her bad credit history. Its better for them that you work out a way to keep up repayments on the mortgage. Sounds like it would be very difficult to sell at the moment.

cstreames

Sadly alliance mortgages are now all done over the phone and after an extensive and exhausting call it seems that all common sense has gone out the window and it is a case of computer says no.

Susan_Frost

can you re-mortgage with a different building society ?

cstreames

Nope my mortgage advisor has drawn a blank

sarah*a

I know nowt about mortgages so apologies in advance if this is a load of twaddle

Does your new GF's name HAVE to go on the deeds right now? Could you not just have your ex's name taken off and have it in your name only?

Doesn't mean your GF can't contribute to the mortgage if thats the plan and you could maybe work on her credit rating and get it added later?

Could you add her mortagage contribution to your income - maybe as rent income - would that help with the A&L requirements?