Problems with recent ex's responsibilities with Mortgage

A_New_Dawn

Hi there

Hoping someone will be able to help.

I have a house and mortgage in my name although a Deed of Trust was registered with LR stating I could not sell or do anything with the house without Ex's agreement as I am holding his 50% of the house in trust.

Ex is now not willing to help with mortgage anymore although keeps stating its half his house. Mortgage is now in shortfall and there is no way I can make up the funds.

So my question is, if I have to let the house become repossessed, will the mortgage company go after the both of us or just me?

Thanks

Thrugelmir

A_New_Dawn wrote: »

Hi there

Hoping someone will be able to help.

I have a house and mortgage in my name although a Deed of Trust was registered with LR stating I could not sell or do anything with the house without Ex's agreement as I am holding his 50% of the house in trust.

Ex is now not willing to help with mortgage anymore although keeps stating its half his house. Mortgage is now in shortfall and there is no way I can make up the funds.

So my question is, if I have to let the house become repossessed, will the mortgage company go after the both of us or just me?

Thanks

Both of you. As the mortgage is joint and several.

The Deed of Trust is an agreement between yourselves, i.e. the 2 parties. If your partner is failing to financially contribute thereby putting you both in default. Then there's nothing to stop you forcing the sale of the property.

A_New_Dawn

Thrugelmir wrote: »

Both of you. As the mortgage is joint and several.

The Deed of Trust is an agreement between yourselves, i.e. the 2 parties. If your partner is failing to financially contribute thereby putting you both in default. Then there's nothing to stop you forcing the sale of the property.

Thanks for the response.

The mortgage is in my name only and not ex's. Ex is only in Deed of Trust.. so would the above still apply?

Thrugelmir

A_New_Dawn wrote: »

Thanks for the response.

The mortgage is in my name only and not ex's. Ex is only in Deed of Trust.. so would the above still apply?

When you say your ex is no longer contributing. Is this a maintenance issue rather than direct payment towards the mortgage?

A_New_Dawn

He is paying child maintenance but he has stopped paying his
half share of the mortgage payments and I have now just asked
him to cover the shortfall left once I can pay as much as I can. He
is refusing this too. Property is in now 100% LTV having lost the £30k cash deposit.

Thrugelmir

Was the mortgage contribution a voluntary one?

A_New_Dawn

We bought the house together but in 2007 it was easier and quicker to do it all my name as I was the main breadwinner. In 2009 set up deed of trust saying that house was 50% his and 50% mine as it as not possible to add him to the mortgage papers without much hassle. So back to my original question, what would his liabilities and responsibilities be if I had to let the housebe repossessed due to his non payment of the mortgage shortfall. Would the mortgage company go afte him too? Does this make sense??

Thrugelmir

A_New_Dawn wrote: »

Would the mortgage company go afte him too?

No. He's not on the mortgage.

Deed of Trust won't be registered with LR though.

As mortgage lender would have had to agree to charge on property.

So nothing to stop you selling.

A_New_Dawn

Thanks. Pretty confident DOT is registered with Land Registry as we paid our solicitor to do so. If it wasn't, I would surely be able to do what I like with the property, even tho I signed a legally binding document ensuring otherwise....

A_New_Dawn

The deed is 100% registered with LR as I checked this morning.

Does anyone know the obligations with this?

Thrugelmir

A Form A Restriction may have been registered with the LR. This will merely register the existance of a deed.

This does not stop you selling the property.