Mortgage with X Partner

Xbox_Widow

Hi all!!! Second Money matter question of the evening :-)
I bought a house with the ex boyfriend 4 years ago, we had only been in the house 6 month when i left, so I have not contributed since October 2010. I walked away, told him that he could have everything, down to my actual belongings because I never wanted to go back. He has refused to even consider taking me off, because he said he had 'control' while ever my name was on.. He wasnt kidding!! Ive not been able to get on with any housing association, buy another property and be rehoused by the council! He now has a new girlfriend and I am with someone else, yet he still refused. I am now paying a soliciotor to deal with this, because I cant move on until this is sorted, she has given him anumber of options and he had just been spinning a tale for about 6 weeks now. He came round last week when he found out I was getting married next year (partly because the thought of my other half owning half that house would of quite possibly tipped him over the edge) and told my solicitor that a tr1 form was coming out and the remortgage was being put in place. I went to the bank to see where this tr1 form was going, and they didnt have a clue what was going on!! I have been informed that he is broke, he has a step family now, the house we bought is empty and he lives with his new girlfriend and her children and the business isnt going so well, im not sure how true this is but this is all ive got to go by. Everytime I try and speak to him about this, he goes through his girlfriend which is ridiculous because she hasnt got a clue, I havent got a clue and its my house!! I just need someone to clear up what the procedure is and if he cant take my name off, how about taking his name off. I just wanted closure on this, and this tie to be broken. I want to be able to set up home for me and my other half. Any advice will be brilliant. Thanks

Upsidedown_Bear

A TR1 form is from the Land Registry to transfer ownership of a registered property.

http://www.landregistry.gov.uk/public/forms/completing-form-tr1

lonestarfan

Who is named on the mortgage? You and him or just him?
How much is the house worth
How much is outstanding on the mortgage
Is the mortgage in arrears or up to date.
Do you have any children - how many and what age
I think others will be along to help if you give some of this info.
Best wishes x

Xbox_Widow

There are no children, just me and him. It is in £2000 low equity, and last I checked it was down to £106000 from £109000. If Im honest, I dont overly understand it, I dont really know what the procedure of all this is.

kingstreet

Someone needs to take control, otherwise this is never going to be resolved.

You can have one of you removed from the mortgage and ownership but only if the one remaining can prove they have sufficient income to justify the mortgage in the future.

Once the lender agrees, the matter is passed to a solicitor for the legal work to be done. This is a transfer of equity and it typically costs £400 to £600 in total.

The other option is to sell the property. If you feel it may sell for less than the outstanding mortgage, you'll need the lender's approval to sell at that price and an agreement as to how the shortfall will be repaid after completion.

Finally, if he won't co-operate, your only other option is a court order to force him to sell, then you're back to the last paragraph about selling with a defecit.

Xbox_Widow

Thank you for your replies. I have been informed that the tr1 is going to my solicitor and he now has a mortgage in lace, does anyone know the procedure and time spam from here?

Thrugelmir

Xbox_Widow wrote: »

Thank you for your replies. I have been informed that the tr1 is going to my solicitor and he now has a mortgage in lace, does anyone know the procedure and time spam from here?

If this is the case, allowing for postal services, a matter of a couple of weeks.

Xbox_Widow

Thanks! I so hope this is the case! Thanks all!