Mortgage after a split

TheBard

Hi,

I've just split from my partner and remain in our mortgaged property. We have yet to come to any clear agreement about the house. On the positive side, the mortgage is locked in at no more than 2% above base rate until it is repaid under the old fashioned Mortgage Base Rate.

There is no chance I would be able to get a mortgage on my own at present. Can anyone explain what my duties are in terms of informing my mortgage provider? I will continue to pay the mortgage myself. I assume that as long as they are paid they are happy.

If I were to be able to buy me ex out, am I right in assuming that the Mortgage provider would become aware as they are on the Land Registry? Would they then be able to withdraw the mortgage and force me onto a less attractive deal or do I have the right to continue?

Thanks in anticipation

Thrugelmir

Your ex may well wish to come off the mortgage. So you need to factor this into your decision. As you will need to remortgage the property into your own name. Something your lender may decline to offer.

Debt_Free_Chick

TheBard wrote: »

If I were to be able to buy me ex out, am I right in assuming that the Mortgage provider would become aware as they are on the Land Registry? Would they then be able to withdraw the mortgage and force me onto a less attractive deal or do I have the right to continue?

Thanks in anticipation

Your ex would want/need to come off the mortgage if you buy him out. As Thrugelmir says, you have to remortgage in your own right in order to remove him from the mortgage.

dimbo61

Do you have kids ? how much equity in the property ? what do you earn ? How much does your EX want ? 50/50% !