Stuck on mortgage with ex. Help!

RachelBDHT

I'd love anyone's help with this, I have a mortgage with my ex, we have been separated for 5 years, (mortgage for 7 yrs, last valuation 2 years ago 65k remaining mortgage 72k) he lives in the house with his new family and i am now married to someone else.
I would like to take my name off the mortgage but he cannot remortgage without a new deposit as its in negative equity (and he doesn't have a deposit)
Is there any way I can get my name off? (I won't pay deposit as paid the original one!)
He is being very difficult and not communicating with me.
I live 200 miles away and cannot camp outside the house to speak to him to sort it.
We need a valuation and a remortgage quote but need a real personal valuation, not a local area Internet search which they did last time which gave the low value.
Any ideas?
What can I do from such a distance?
Is there no way I can legally remove my name so that he HAS to deal with it?
I don't want any money from the sale! I just want out of the only thing connecting me to my old relationship! HELP!
Thanks.

sammyjammy

There isn't a whole lot you can to be honest, even if it were valued a bit higher your gap amounts to around 10% of the value and then he would need a deposit.

You cannot remove your name, the mortgage company are unlikely to allow it in the circumstances due to the negative equity as well as the fact that two people to chase for a mortgage is better than one.

Is he paying the full mortgage? Would he consider selling up?

RachelBDHT

He is paying the mortgage money to me and I am paying the company so that I know he is actually paying it (not been too reliable in the past with bill payments)
I paid it when I lived there on my own.

I don't think he wants to sell as has a new baby.
If I have to apply to force a sale that may be my only option to shock him into doing something.

terryw

RachelBDHT wrote: »

He is paying the mortgage money to me and I am paying the company so that I know he is actually paying it (not been too reliable in the past with bill payments)
I paid it when I lived there on my own.

I don't think he wants to sell as has a new baby.
If I have to apply to force a sale that may be my only option to shock him into doing something.

I really can understand your frustration and your desire to sever all connections.

However trying to force a sale could be very expensive in legal fees, and with the negative equity you could well have to pay the shortfall. This needs a lot of thought.

Best of luck regardless.

RachelBDHT

Even if I scare him with the prospect, that may help him to see the situation more clearly and seriously consider the risk of losing the home from over his fianc! and baby's head. (I doubt it.)

Any other options greatly accepted.
No legal documents that sever me from responsibility?

Its so sad that there is no way out, there are so many people, friends and friends, parents and sons/daughters, that are STUCK in this same situation..

Thrugelmir

If you had a repayment mortgage then the debt owing would have been reducing. Then there would have been equity to force a sale.
The situation has to be dealt with at the point of separation\divorce. However painful and costly it is. Otherwise as you are finding resolution becomes harder and harder.

RachelBDHT

It is a repayment mortgage that luckily going down nicely.
It may be that the value and the remaining amount is much closer now.
It may be much simpler this time but he's just not getting anything sorted.

Thrugelmir

RachelBDHT wrote: »

It is a repayment mortgage that luckily going down nicely.

Then there is light at the end of the tunnel.

whitewing

Tell him you are coming down to stay in your house in the last week of July so that you can get valuers around.

ValHaller

RachelBDHT wrote: »

Any other options greatly accepted.
No legal documents that sever me from responsibility?

There is no washing your hands of it option. The mortgage means you and he have responsibilities to the lender. All options require you to fulfil those responsibilities either by transfer of equity (which may not be possible) or paying off the mortgage

mrginge

This is a non starter unless you have the cash to cover all the neg equity and the legal costs of forcing a sale (you may be awarded the latter if it came to court)

Unfortunately, by not sorting this out when you left you are now going to have to pay for that mistake. You may find that offering to pay a lump sum off the mortgage, such that ex can then remortgage in his name is the quickest way to relieve you of this problem.

Not particularly fair, but given you cant just move back in to force the issue i think you are going to end up severely out of pocket