Mortgage in joint name problems

thefd

My daughter has a joint mortgage with an ex boyfriend, they split up some 14 months ago mortage initial deal was five years , and she remained in the property paying the mortgage etc. It is now coming to the end of the current mortgage deal and where she can now look to find a better deal and get a mortgage on her own right for the property (Deal already agreed and awaiting signature), unfortunatley the ex will not sign the necessary papers to come off the current mortgage he is of the opinion he is due some money? so we are in limbo... help please. Surely there must be a way where he can be removed from the mortgage?

House cost £95k in June 2007 I paid deposit by deed of trust for £14k mortgage taken out therefore was £81,599k mortgage now stands at £76k (March 2012) house now valued at £85k so no money in house for ex anyway? When the ex left in March 2010 the mortgage outstanding was £78,652 house was worth around £90k at this date.

So I am struggling to see his logic?

Any help or advice greatly appreciated, thanks

Dave_Ham

Unfortunately, seeing his logic from an outside looking in is that he is just being greedy and immoral as he thinks he may get a payout..

Unfortunately, this may seem the best option as he does hold the trump card.

Any form of litigation will be expensive and already I am stereotyping that he will get legal aid or not even defend himself and then you end up with a bill and 50p a month from him forever.

Play hardball and threaten to sue him for missed mortgage payments or whatever and then offer a token amount of money to get rid of the scumbag and get it transferred and signed for.

Only way you and your daughter will get rid of the idiot.

Its easy for me, fast forward 15 years when my eldest is all grown up and see my reaction if and when this probably happens - and it will be £%^£$£ the scumbag..

Try and be pragmatic and you will benefit in the long run

ACG

Are you on speaking terms? Can you sit down and go over the figures with him? Even tell him to go and consult a solicitor, accountant or someone with a GCSE in maths?

If not then is there a 3rd party? A mutual friend who can be impartial but explain it maybe?
You tend to get better results by going in being friendly about it, if that fails then as Dave says it could be a case of saying the missed payments amount to £x amount....you then have 2 options, take him to court for £x amount each month on top of the backlog of payments OR make telling him you will waive the missed payments if he takes his name of it.

If all else fails would he agree to sell the house? Put it up for sale, get your daughter to put in a bid on it just dont let him know its you whos buying it until its too late. This will cost a fair bit in estate agents fees and solicitors but it could be another route?

Thrugelmir

thefd wrote: »

I paid deposit by deed of trust for £14k

When you say you did. Was the deed between your daughter and her ex.

Did the ex receive independent legal advice or was he merely presented with a piece of paper to sign, i.e. a fait de complet .