Need A Solution To My Existing Mortgage Dilemma!!!

jaylfc24

I'm hoping if someone could help me out with some good advice on my mortgage problems.

At this moment in time I have a joint mortgage with a sibling of which I'm looking at a solution to part ways due to uneasy relations.

I currently have a remaining mortgage with HSBC with £85k left to pay from a £92.5k mortgage. I currently pay the mortgage myself as he wants nothing to do with the mortgage and just pays me a set amount each month (kinda like a lodger).

The money tied up in the house is all mine so we'd have no problem on the money matter side. I need a solution to have him removed from the mortgage whether that be just me solely named or have someone else part on instead of his name.

The problems I face on this though are:-

**my mortgage provider might not let me have it solely in my name as based on the amount outstanding it's way above the mortgage allowed for a single applicant mortgage which from what I can gather based on my annual earning of £18k I'd only be allowed somewhere between £55k-£65k

**My other brother would be interested in coming onto the mortgage but he was previously declared bankrupt 2 years ago and I don't HSBC would be keen on a name swap with someone who was ex-bankrupt.

Based on my points above can anyone suggest any optional route to go down based on my dilemma???

Thanks

holly_hobby

Your mortgage lender will not release your brother unless your income is sufficient to service the mortgage on its own - which we know it isn't.

Your other brother is a (discharged ?) bankrupt with your mortgage having a LTV of just on 92% -so you've no chance of adding him on those figs.

Options ? Sell is the only one based on the info and figures provided.

Sorry if this isn't the answer you hoped for ...

Good luck

Holly