Desperate - Advice please.

losrios

I'm really hoping someone here may be able to give me an answer that will help me avoid losing my house.

I have a Nationwide mortgage in joint names with my soon to be ex-husband. He walked out over two years ago and disappeared leaving me to pay the mortgage on my own.

Thankfully I have managed to keep up with the payments and haven't defaulted even once, although they did agree to put me on interest only payments for a while which helped.

The problem I have now is that my husband wants his name off the mortgage but even though I have been making the payments alone for over two years, the Nationwide will not allow me have the mortgage on my own because according to their criteria I don't earn enough.

Nationwide state either he has to stay on the mortgage or we have to sell.

If I lose the house I will not be able to afford to rent because rental costs are higher than my current mortgage payments.

Is there anything I can do? I can afford the mortgage payments but Nationwide won't help me.

What can I do? I'll be devastated if I have to sell the house, especially as there is no equity in the property.

Please can someone give me some ideas?

lizziebabe

He is liable to pay the mortgage as much as you as his name is also on there.

Have you got children? He can't force you out of the house if you have.

I am sorry to hear of your predicament but I really advise you to get expert help from a solicitor. If you do not pay the mortgage he will be chased by the mortgage company - not just you.

Please get help quickly - it must be a very difficult time. Most solicitors give you a free half an hour. Make a list of the questions that you want answered before you go in to see the solicitor.

There is a lot of information on the internet - have a look

All the best. lb

losrios

Hi Lizziebabe,

Many thanks for your response. Unfortunately, although I am aware he is still responsible for his share of the mortgage payments, he simply won't pay, therefore I have no choice but to pay it all. There is no way I can make him pay - I've tried.

We have no children and if Nationwide won't take his name off then he will insist on the house being sold.

I already have a solicitor dealing with the divorce and financial settlement but he says there's nothing he can do or advise in this case as it is entirely the building society's decision.

I'm just hoping someone here may know of a way around this problem.

Surely if I am paying the mortgage and have not defaulted then they should take that into account and allow me to have it in my name only? It seems crazy to make me homeless when I can pay.

Thanks for taking the time to respond - I really appreciate it.

opinions4u

losrios wrote: »

I'm just hoping someone here may know of a way around this problem.

You're between a rock and a hard place. If the lender won't play ball, and you don't want to sell, then things carry on as they are until your ex tries to force a sale or you decide to move on.

In the meantime I would do the following:

1) Make a note of every single payment you make towards the mortgage and upkeep of the house.

2) Consider what you will do if the property is sold and your ex turns rounds and demands half the equity.

3) If there is no equity and the property is worth less than the debt, consider the likely outcome of demanding that your ex owes 50% of the difference.

4) Make sure the final agreement of the divorce settlement is clear about who gets what when the house is sold (and takes in to account your payments). Otherwise you will just end up with a second legal bill and a nasty battle further down the line.

Surely if I am paying the mortgage and have not defaulted then they should take that into account and allow me to have it in my name only? It seems crazy to make me homeless when I can pay.

And with interest rates likely to head upwards, you having needed the support of an interest only arrangement for a period of time, it looks to me like the lender has a point that perhaps you can't afford this long term - so why should they release your ex from his commitment? If the do, they can't chase him if you fail to pay.

Sorry if I've not come up with a solution. It's a horrible position to be in. You could approach a mortgage broker to see if there are any other lenders who would take you on - I'd anticipate a fairly quick and honest decision if there's no chance.

lilab_2

WhenI divorced many years ago we arranged that I had the house transferred into my name which the mortgage lender agreed to, however they would not release my ex-husband from the mortgage liability. It didn't make any difference to me or him, as I paid the mortgage myself and didn't default. Once I sold the property the mortgage was redeemed and no further liability to my ex. The difficulty I suspect is that if your husband is still named on the mortgage then he will find it difficult to get one elsewhere as he is supposed to declare and that is probably why he wants his name off?