changing deal after split.

misinformed???

myself and my former girlfriend took out a mortgage in dec 2005. however the relationship did not last and she moved out 12 months later. she has not contributed to the mortgage since, but now insists i must sell the house (with minimal equity) or refinance myself which is difficult at the moment. my question is this. the mortgage provider (direct line) insists i apply for a new mortgage, but is there no way i can "buy her off" the current deal?

GuidoT

It would probably be prudent to sell it now, as a damage limitation exercise. I realise that may not be convenient as I am sure you need a place to live.

Otherwise you will be contributing further to a mortgage for her benefit.

Some numbers would be helpful, like purchase price, mortgage, current valuation etc.

claretmatt

Direct Line are correct you will need to remortgage the property from joint to single name. At the same time you will take her off the deeds by completing an equity transfer.

It will be based on your individual affordability.

misinformed???

is there no way to have the current deal altered, as it can be proved that i have been paying it in full myself, and my ex needs nothing from the house other than her name off the mortgage?

GuidoT

They are unlikely to take her off unless you can demonstrate you meet the lenders affordability criteria.

As I said above some numbers would be helpful.

betmunch

Your current deal can be altered if the provider allows it. However, in your original post it says that they are insisting that you apply for another mortgage.

If they wont do it, then you have to go elsewhere for your finance I'm afraid.