change joint mortgage to sole mortgage

jtclandme

I and ex purchased a property in 2005. Three years ago she ran off with another man (and took our 2 children). The divorce is hanging due to the property. I have paid the mortgage from start till present.
I was also made redundant 3 years ago and have been working as self emplyed ever since.
The accounts do not make good reading for mortgage purposes, however I need to remove my ex partners name from the mortgage and re-write solely in my name.
If I sell? then I cannot get back on the property ladder.So the only option is to transfer title to my sole name.
The ex is in agreement, but how can I resolve this situation.
Thanx
L

ViolaLass

If you're not making enough income then you will not be able to remortgage in your name alone.

Thrugelmir

Sell up and buy a smaller cheaper property.

kingstreet

It is unlikely the lender will take you as the sole borrower as you don't appear to have the income or the status to take it on and satisfy their criteria.

In addition, you may not be able to get a new mortgage if you sell, so buying again may not be an option.

How about renting for a period until your income and status have improved?

beecher2

You say that if you sell you couldn't get back on the property ladder. If this is the case, then you aren't in a position to take on the mortgage for the house you're living in at the moment. Sell up and rent, and move on would seem to be the best advice.