How can I get my name removed from a mortgage?

evilkitty_2

Hiya,

I am in need of some advise.

I split up with my ex coming up to 3 years ago. We purchased a house together. Both names were on the mortgage and deeds.

I am happy to walk away - I just would like the matter resolved. He has tried to get his father on the paperwork but he was not allowed due to his age. My ex has now also tried to add his currently g/f onto the paper work but she has also been declined, for some unknown reason.

I have not been making any payments towards th property since I left, which, I would of thought, shows he is more than capable of taking over the repayments?

We have a mortgage for £90,000.00 and an unsecured loan for £20,000.00, in total owing £110,000.00 to the bank.

The property was last valued at £105,00.00. But neither of us have the funds for estate agents and solcitor fees, alongside being left with a shortfall that we would both still owe to the bank.

The mortgage company is Northern Rock. They are very unhelpful when I try to now speak with them as they are treating us a seperate parties and will not inform me of any movements. I am having to rely on my ex, who to be honest, is pretty much next to useless when it comes to keeping me informed.

Any suggestions, good or bad, would be welcomed. I have considered bankrupcy. But I do not want to ruin my future, I also work in the finacial industry and have been told this could potentially have an impact on my current and any future job.

Cheers!

ILW

Someone need to buy you out. No other option.

kingstreet

Sell the property, paying off as much of the unsecured element as you can. The remaining unsecured loan can then be repaid by the two of you without it affecting your future plans. Note - the rate for the loan will increase when it is de-linked from the mortgage.

If you can sell for £105k, £1,500 should cover the fees leaving the mortgage repaid and only around £6,500 outstanding of the unsecured loan. You should be able to pay that back fairly quickly.

If you cannot sell or find someone to take your place on the mortgage, you will have no alternative but to remain connected to your former partner, for good or ill.