Help getting Ex off mortgage

claire1988

My ex (24) and i (23) bought our first house 3 years ago right at the property peak just before the crash, after 4 months it didnt work out and he left.
I couldnt afford to live there on my own so i had to move out and go live with the parents also.

Because the market crashed we would not have been able to sell as were in 25k negative equity.
So as we could not sell and i couldnt live there on my own as unaffordable we decided to rent it out ( i know we are not allowed by the mortgage company etc etc but we had no choice)

A year later i found out he was collecting our rent off the tennants and not paying the mortgage! He left me in 8 months arrears and i have been recovering ever since and have just finally paid them off. i collect rent to pay mortgage still.

My ex has a history of debt and has not paid any of this creditors for about 3 years and he vanished for a long time until i managed to contact him recently.

he has agreed to sign any paperwork to get his name off but i am not sure what to do as i know the lenders will not just take him off as i dont earn enough on my own to take on that big a mortgage.

I have been in contact with them since he left and they know the story that he left etc and doesnt pay me anything and im paying on my own.

the problem is he is telling me he is going to apply to go bankcrupt soon and i need to get him off or im going to suffer, all my hard work and money wasted paying mortgage arrears off!

obviously the lenders still dont know im renting it out (i know i know i will move back in as soon as i can and i have landlords insurance etc etc for now and it is a close friend who rents off me)

Basically i dont know what my next move should be, i feel ive wasted 3 years of my life paying off arrears and sorting it all out only to loose it all!


If anyone has any advise that would be much appreciated

Thrugelmir

claire1988 wrote: »

the problem is he is telling me he is going to apply to go bankcrupt soon and i need to get him off or im going to suffer, all my hard work and money wasted paying mortgage arrears off!

If the property is in negative equity, then in simple lay terms its of no interest to the creditors.

Could you live in the house and perhaps rent to a lodger?

claire1988

yes that is what i will do soon move back in and rent the spare room out, but im putting money by for furniture etc as i have to buy everything from scratch so as soon as i have enough to get all the essentials then i will move back in.

The problem is i need to get him off the mortgage sooner rather than later as he is so unreliable and unpredictable, he says he will sign anypaperwork now but in 6 months he could be very difficcult about it.
Would the lenders take him off? What would they need? How can i get rid of him from everythng?

cabbage

The lender won't take his name off as you can't afford the mortgage in your sole name. If he goes bankrupt the Official Receiver will look at assets disposed of in the last 12 months and in the last five years as its one of the questions in the bankruptcy statement of affairs. As the other poster said, if its in negative equity they probably won't be interested in the property.

claire1988

will they take him off if i have a guarantor or someone who can come into mortgage with me, a close friend or family member?

Anyone would be better than my ex