Keeping a joint mortgage when OH leaves but hes getting into debt!

Miss_Orangey_Goodness

Hi, I wonder if anyone could me advice please.
I have a joint mortgage with £10k equity, also have a loan in my name that was for joint debts for £10k. My partner has left and has agreed to sign over equity to me and I will keep the loan on. My solicitor is currently drafting the agreement.
Now I cannot sign him off the mortgage as the bank will not give the mortgage solely to me. I am hoping when the mortgage is up for renewal in 2 years time I will be able to have it on my own, but for the meantime his name will be on the mortgage but with 0% equity due to him.
Now I have been opening his credit card statements that are still coming to this address which shows he has maxed them out and has late payment fees (he refuses to have his mail redirected and wants to collect the post when he sees his son). Because he is getting himself in debt left right and centre, where do I stand with my credit history? Can bailiffs come to the house and take the property (worse case scenario). My solicitor told me I wont have a charging order over the property as he will have no equity in it.

holly_hobby

The property can't be signed over solely to you, I am guessing, as your income isn't enough to cover the mge on its own - that is why they have kept his name on the mge - for joint and several liability ( i.e the named mortgagors are both collectively and singularly legally responsible for the mge repayments/debt). This means that he will continue to remain legally responsible for maintaining the mge payments, if for example you stop paying them directly.

Now, with regards to his credit card debts - a charging order is only applied by the courts, when the debtor has been taken to court by the lender, a court judgement for payment has been appliled and the debtor fails to adhere to the judgement. ONLY if this happens can the debtor go back to court and ask for a charging order - and in your case even if this happened it would fail, as your solicitor has already advised you, your ex-ptnr doesn't "own" any equity in the property to put a CO on. So stop worrying about that - no balliff can come and take your property from you .

With regards to your ex-ptnr debts - if he stops paying them - they will start sending demands & probably phoning your home to try and pressure him into paying (or a debt collection agency will if the original lender sells the debt).
To stop this, I would start returning his mail "gone away" or words to that effect - just to stop them hasselling you.

Hope this helps

Holly x

Miss_Orangey_Goodness

wow thank you very much for that helpful e-mail, it has put my mind at rest just can't wait now for him to sign the damn agreement. Thank you Holly!!

holly_hobby

Glad to have helped ... so no more worrying !!

Holly x