I'm still on the mortgage and i dont even live there!!!

joaries

Hi everyone
This is my first "new thread" so i hope ive put it in the right place!

I have been divorced for 4 years. As part of the divorce agreement, my ex-husband and i signed a form to request that my name be removed from our mortgage, as i no longer lived there nor wanted to. My ex-husband lost the form, so i am still on the mortgage.

There are approx 7-8 years of the mortgage remaining, but i anticipate there will be a problem at the end of the term as it was originally an endowment mortgage but i don't think we paid the endowment bit of it.

To additionally complicate things (!) the house is in an area earmarked for Housing Market Renewal, so the area is improving and house prices have really shot up.

Since the divorce, i have encountered real financial difficulties and have kept in the back of my mind that it may be a useful situation to remain on the mortgage as if my ex-husband decided to sell-up then he would (i imagined) have to pay me half, so making my money problems ease a little, however i'm also having a worry that he's happy to keep me on the mortgage as when its ending i may have to share any financial penalties accrued!

As you can tell, i really don't know much about this subject!

I appreciate this is a complicated issue and of course no-one can give definite recommendations or advice without knowing much more, however i just wondered if anyone can shed any light at all on this for me, or offer an opinion on the best way forward!!!

thank you very much

lizzie12_2

Havve you a copy of the document your ex since lost?

Could you contact the mortgage provider for info?

Spangled

IMO, it sounds like you want it both ways ie you don't want to be part of the mortgage if there's an endowment shortfall and you have to cough up yet you want a share of ££££ if there's a profit! Lizzie's advice (above) is spot on - approach the mortgage lender first to see what the exact situation is - but I fear you may also need to contact your ex (often difficult, I know) and see what he wants and/or is expecting. He may have genuinely forgotten about this and may be surprised to be reminded that you are still on the deeds. I'm not having a pop at you but it's important you get this sorted now rather than waiting until the property is eventually sold - that's the fairest way for both of you.

Somerset

You say you are still on the mortgage, are you shown on the Land Reg ? because they're not the same thing.

joaries

Thank you everyone for your opinions.
Lizzie, unfortunately i don't have a copy of the document, he had obtained it from the bank and asked me to sign it, which i did. Wish id thought to get a copy!!
Spangled, yep, you're right i do want it both ways, i feel like i deserve some of the profit as i put up with so much! i understand thats not the most rational of ways to look at the situation though, so getting in touch with him is the most sensible thing to do!
Somerset, i havent looked into the land reg so i dont know if im shown on it or not, is that easy to find out?

Once again, thank you everyone

Somerset

joaries
The ownership of the house is shown on the Land Reg http://www.landregisteronline.gov.uk/. It costs £3 to check on the details of the property. The mortgage is just the vehicle for epaying the loan. It's possible you came off the 'ownership' but stayed on the mortgage. Unlikely but possible. If it were me, I'd want to know if I was still jointly responsible for the mortgage, at least I still had a stake in the property. After checking that, then it's your decision what you do next.

regularsaver1

a solicitor would have been acting for you??

joaries

Somerset, thanks for the info, ill check that

Regular saver, yep, i did have a solicitor for the divorce, however i didnt qualify for full legal aid so had to make monthly contributions in order to get advice and her representation, as my finances were so bad i couldnt really afford it and my credit rating was also atrocious so couldnt get a loan etc to help pay for it, so was a bit stuck! so once the divorce was finalised i didnt go see her again and couldnt afford to seek further advice once my ex lost the form!

thank you for your opinions everyone

regularsaver1

so therefore a transfer of equity was not complete, meaning you are still showing on the mortgage and property