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mortgage defaults affecting credit file
toffee4210
Posts: 1 Newbie
Hi, any advice please?
My ex wife is living in the former matrimonial home with her new husband and their children and three of my children, the mortgage is in joint names of my ex and myself, the consent order we agreed on is that my ex has the house/eqiuty and i would retain my pensions, she has to remortgage or sell the property when my youngest child is 19 years old (july 2017), if she remortgages before this i would remove my name from the deeds and the house would then be in her name only, this has been agreed by the court.
The issue i have is that if she defaults on the mortgage it also defaults on my credit file due to the mortgage being in joint names, is there anything i can do about this?? she has indemnified me against all the household bills in the consent order, she has already reduced the mortgage to interest only due to stuggling to pay it, and also tried to remortgage to remove me from it, but failed.
We both sucessfully completed an IVA from 2005 to 2010 and now i'm trying to repair my credit score etc, i've just received a credit card to help me do this but it seems pointless when she can miss a mortgage payment and i'm penalised on my file!!
Is there anything i can do to stop her financial mis-management affecting my credit score/history etc??
I've spoken to Lloyds but all they say is that it's a joint mortgage and so you're both responsible even though it's out of my control.
Thanks
My ex wife is living in the former matrimonial home with her new husband and their children and three of my children, the mortgage is in joint names of my ex and myself, the consent order we agreed on is that my ex has the house/eqiuty and i would retain my pensions, she has to remortgage or sell the property when my youngest child is 19 years old (july 2017), if she remortgages before this i would remove my name from the deeds and the house would then be in her name only, this has been agreed by the court.
The issue i have is that if she defaults on the mortgage it also defaults on my credit file due to the mortgage being in joint names, is there anything i can do about this?? she has indemnified me against all the household bills in the consent order, she has already reduced the mortgage to interest only due to stuggling to pay it, and also tried to remortgage to remove me from it, but failed.
We both sucessfully completed an IVA from 2005 to 2010 and now i'm trying to repair my credit score etc, i've just received a credit card to help me do this but it seems pointless when she can miss a mortgage payment and i'm penalised on my file!!
Is there anything i can do to stop her financial mis-management affecting my credit score/history etc??
I've spoken to Lloyds but all they say is that it's a joint mortgage and so you're both responsible even though it's out of my control.
Thanks
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