Son on ex wife's mortgage

ollie2116

Hi, help needed for my son please. My wife and I split up about eleven years ago and divorced in 2003, at this time I came off the mortgage and she kept the house and all the equity, which was sizeable. She met another guy and they still live together in the house but he was made bankrupt in the past.

About three years ago my ex wanted to borrow more money on the house for an extension and pay off debts. My son, who was then 20, was added to the mortgage so his earnings could be taken into account (without my knowledge!) as my ex does not earn a huge amount.
He now wants to come off the mortgage, it is causing him problems with credit etc and he wants to look at getting his own place, but my ex wife refuses to take him off - what options are open to him?

holly_hobby

He can only be released from the mortgage by the mortgage lenders agreement, to achieve such would mean that your ex would need to be able to service the mortgage from her own income. (her partner legally could not added to the mge if his bankrupty has not been discharged, and may be rejected by the lender even if he is discharged, regardless of other status issues).

If the mge lender refuses, your son is stuck I am afraid (until, or unless, she can source another lender whom will allow a remortgage based on her sole income).

The other route, would be to sell the property and everyone cut their losses - either via mutual agreement, or by your son seeking a forced sale via the courts (facilitated via a Solicitor).

Difficult situ, it being family ....

Hope ths helps

Holly

kingstreet

So mother has son included on mortgage so she can borrow more money. Bankrupt partner in background. Son now wants off, but mother refuses?

Is this a question of "won't" or "can't"?

Next, you'll be telling us the mortgage is with HSBC and he's on the mortgage but not named on the deeds as co-owner?

ollie2116

kingstreet wrote: »

Is this a question of "won't" or "can't"?

I think it is "Won't" she is VERY stubborn!

I believe the mortgage is with Nat West, I am told she also extended the mortgage last year and my son did not agree or sign anything for this. Is this right or would she have needed my sons signature? (forged possibly?) This appears to be a recurring situation - she borrows on credit cards then every 3 years or so extends to pay them off. I am concerned as this could well affect my son in later years.

Maybe the 'threat' of forcing a sale would be enough, but as Holly has said it is a difficult situation as, at the end of the day, she is still his mother.

RedFraggle

She would need not only his signature but evidence of his earnings too. If she has made the application without your sons knowledge then she has made a fraudulent application.

Yorkie1

RedFraggle wrote: »

She would need not only his signature but evidence of his earnings too. If she has made the application without your sons knowledge then she has made a fraudulent application.

I agree. I suggest you have a long chat with your son about exactly what he remembers about this. If he is genuinely sure that he was not involved at all, then he probably needs to be investigating with the lender. He could probably do a data subject access request for copies of all documentation related to the mortgage - this wouldn't necessarily raise fraud flags.

Then see what's what and take it from there.

holly_hobby

RedFraggle wrote: »

She would need not only his signature but evidence of his earnings too. If she has made the application without your sons knowledge then she has made a fraudulent application.

And what a mess that would be !!

If your son wants to check just what has been going on, on the account, he is fully entitled to have a full print out of all data (inc electronic such as recorded telephone calls) and documents, inc statements as a data subject under the account, which will give him an idea of what has transpired. This is made under a Statutory Access Request under the Data Protection Act and referred to in shorthand as (SAR), at a maximum cost to the subject of £10.

The lender can not refuse to supply the information, and have 40 days from receipt to satisfy the request.

If you would like me to post up a link to a template letter I will happily do so.

If Mum has indeed forged his signature, this would be informed to the mge lender, whereby they will elect how they wish to proceed - which may involve criminal proceedings - so again, its a very delicate matter with it being Mum & Son, and depends on their relationship I suppose.

But yes, whilst he is party to the mge, the conduct of the account will reflect on his own credit record, he will find it difficult to obtain a 2nd mge for himself (if he is on an average income), and is also liable for the full mge payment if Mum fails to maintain it, together with any arrears or negative equity on sale.

So, it may well be a good idea to try and have him released as amicably as possible, due to the complications of the family relationship.

Hope this helps

Holly