How do I get out of it?

jojo21_2

Just over three years ago my boyfriend and I bought a flat. 2 months after completion we split. We still both paid the mortgage for a couple of months and then he said he would take care of it. We didn't make a formal agreement and I admit I was stupid. I did just leave it to him and try to forget about it all.
Then 2 years ago I started getting letters saying that he hadn't paid the mortgage. I was furious and tried talking to him but getting no response I went to his parents who sorted it out, that time and 4/5 times after that.
Last month I finally received a transfer document which I signed but because he has gone into arrears again, and got bailed out by DAddy, again, the mortgage company are now unwilling to complete on the transfer.
For the past three years me and my partner have been saving and have now got a big deposit for a home together. We have a mortgage in principal but I am now scared that the final mortgage agreement will be rejected because of the arrears - how likely is this? How long will I be unable to get a mortagage? IS there anything I can do to get out of this old mortgage? My boyfriend now, even if we get a mportgage, will not buy a house with me until my name is off the deeds of the other.

I am fuming mad, I need a solution. Can anyone help me?

Aberdeen_3

Getting out of it seems unlikely if it's a joint mortgage and the lender is unwilling to transfer sole liability over to your ex.

Any chance of him being willing to sell the property?

Does your credit report show the missed payments on your existing mortgage?

Annisele

I'm afraid I agree with your boyfriend - even if there were no arrears, I think that he'd be mad to financially link himself with you whilst you still had a joint debt with your ex.

If you do take a new mortgage now, you'll be liable for mortgages on the old property and the new one - so the new lender would want to be sure that you can afford those payments.

Is the flat the ex lives in in negative equity? If he can be persuaded to sell it that would likely be by far the best solution for you.

Gorgeous_George

Sounds like a bit of a mess. Your new boyfriend sounds like a sound chap.

When your ex's dad bailed his son out he also bailed YOU out. Your mortgage is a JOINT commitment and the fact that you don't live there makes no difference.

Listen to your new fella - he makes a lot of sense.

GG

PPink

One thing I have learnt from joint mortgages and bank accounts etc from my boyfriend is that you will be linked to your ex when they do a credit check.

His ex after 3/4 years left him in their flat as they couldnt sell she took her name of the deeds mortgage etc but when checking his file the other day saw that they were still linked.

Create an account with one of these credit checking sites and make sure you and your ex arent still 'together' finacially otherwise this could cause more problems in the future

Wickedkitten

PPink wrote: »

One thing I have learnt from joint mortgages and bank accounts etc from my boyfriend is that you will be linked to your ex when they do a credit check.

His ex after 3/4 years left him in their flat as they couldnt sell she took her name of the deeds mortgage etc but when checking his file the other day saw that they were still linked.

Create an account with one of these credit checking sites and make sure you and your ex arent still 'together' finacially otherwise this could cause more problems in the future

It might have already caused problems since neither one of them have been paying the mortgage.