Mortgage Help & Advice needed

mrsides

Sorry if this is in the wrong area, but we are unsure where to put our story that we need your help with.

My wife signed a seperation order five years ago with her previous partner of 10 years, this was in relation to the properties they used to own. It is a legally drawn up document stating that her name would be removed from two properties mortgages instantly, and the remaining two properties mortgages her name would remain on until her ex removes her name, but in signing she has nothing to do with the properties or no money from the rental of the properties and is not responsible for the up-keep or mortgage payments.

Here is the issue her ex is not responding to her requests to remove her name from the mortgages, the properties are as follows -

1. A spanish villa with a mortgage in excess of 250,000 euros
2. A four bedroomed home in the UK with a value of £150,000 and a mortgage to exactly the same value.

( Her ex still owns the other two properties as well, he lives in one & his mother in the other)

So as you can see there is massive debt with the two properties, but since signing the document her ex is now not doing anything, the document states her name will be removed in reasonable time, but five years is now beyond that point. So what options does she have? All our joint assests are in my name to protect our family from the debt and her ex.

We have contacted the mortgage providers but they are unwilling to listen unless it is with the full agreement of both parties on the mortgages.

Options we are thinking of are -

1. Visiting a solicitor once more, but we have spent £10,000 in fees trying to sort this mess out so far and reach this point.

2. Bankruptcy - Please note this is only an idea, we fully understand the aftermath, but we are struggling with a solution and need sound advice. My wife does not work so her income is no-where near the amount needed to cover the debts. Her ex is an accountant earning £50,000 per year plus bonus.

3. Sell our current property and take over the UK property transferring ownership to me and paying off the mortgages ourselves.

So as you can see this is a mess that we would benefit some advice on, we will check the forum and add in additional information if required.

Thank you.

kingstreet

What payments is she being asked to make?

mrsides

Hello

No payments we are just needing advice on how to remove my wifes name off these mortgages, as whilst she is not contributing in the eyes of the banks she is still responsible for the debt.

Thanks

dimbo61

On point 3 she would still have the debt on the spanish villa her EX MIL lives in.
Could she not move back into the 4 bed house in england as she is still on the mortgage and you move in with her!!!!
See what her EX thinks of you both moving back in.
Dont pay for anything and make yourself at home.
Does she still have the keys ? Or get the locks changed while her EX is out ( provide him with a key when he gets home )
One big happy family