trust deed over now getting divorced what about house

poetica

Hi there, I don't know if this is where I should be posting but here goes. I finished my 3yr trust deed this month. Then, my husband told me he wants a divorce and has moved out. We both have mortgage on propertyof £80000 and secured loan of £38000. the house is worth about £135000. I can't get another mortgage becuse of my trust deed history and can just about manage to pay for the house myself but I don't know how that works with the mortgage? Can his name be removed? I can't refinance either because of m trust deed. I feel as if life has went suddenly pear shaped. can anyone help me?

Radiantsoul

The mortgage company would have to agree for your husband's name to be removed from the mortgage. I doubt they will as there is uncertainty as to whether you alone can pay for it and there is little equity in the property.

poetica1

thanks for your reply. life is completely miserable at present

skintandfat

Why not give the mortgage company a try

They can only say no or yes

Things may not be as bad as they seem;
The selling price of your house may not be as high as you think- the value will be lower for a quick sale

If you can meet the mortgage payments and you are living there now I think you can only but try

Everything to gain, nothing to lose

remeber to play polite, but play hard ball- don't let the mortgage company think you will be a walkover

You are only talking about less than £9000 (as the liability for the difference will be split, although you are jointly liable)

Remeber the mortgage company will be unlikely to get all their money back as house values are falling and if they make you BR you will have no ongoing liablility and they will get next to nothing

Remember the glass is only half full