taking my name off the mortgage

Draxs303

could anyone advise please, been split up with my ex partner for 2 1/2 years and i still pay the joint mortgage we had and all the bills approximatley 800 a month and its killing me and preventing my from doing anything really. The ex does not work and claim incapcity benifit. there is alot of equity in the house but she wont sell and our yougest is 10 so i dont think i can force her to sell.

I would just like to know if she would be able to remorgage on her own pay me off and have the mortgage in her name there is more than enough equity to do so if she remortgaged and child benifit i should be paying would more than pay her mortgage payments so there is still security there does anyone think this is possible?

Conrad

It's possible as long as her credit history is good, thats the key. If she has had missed payments on anything then the only lenders would be higher rate options which she may not want. Not an easy case to get though, but yes, possible.

anh1904

... and what exactly is her incentive?
You are jointly and severally liable for the mortgage, and whatever spilit the court decides on the assets, they cannot force the mortgage company to take you off the mortgage.

Been there, seen it, got the tee shirt, and it isn't a very pretty one.

beecher2

Conrad wrote: »

It's possible as long as her credit history is good, thats the key. If she has had missed payments on anything then the only lenders would be higher rate options which she may not want. Not an easy case to get though, but yes, possible.

How can you say it is possible without knowing the amount of mortgage, the LTV, outstanding debt, or salary?

maninthestreet

So what is the monthly income of your ex? Can they afford to pay the £800 monthly mortage payment?

anh1904

Affordability is surely only one point.

If arrears start to build and she doesn't have income, but he does, who are they likely to chase?

Conrad

beecher2 wrote: »

How can you say it is possible without knowing the amount of mortgage, the LTV, outstanding debt, or salary?

That's why I used the word 'possible' I was refering to the fact a benefits claimant can still qualify for a mortgage, but of course everything has to stack up, needless to say affordability.

Typicaly the state meet the interest on a mortgage where those on benefits are concerned, in my local experience anyway.