No buildings insurance

monty-doggy

Posing on my gf profile, bear with me!

I'm having a nightmare with my ex.

She is living in our jointly owned property and I want to get off the mortgage but she can't get a mortgage on her own.

She has a new man living there and is pregnant to him.

My kids live there 4 nights a week.

I've just found out she cancelled the buildings insurance over a year ago.

Will that have any affect if the mortgage company find out?

Thanks

wannahouse

very stupid of her!!!
what happens if the place burns down or floods?
you will be responsible for paying back the mortgage, but will no longer have a house!

melj16

As far as I am aware, the only insurance you are legally required to have as set by the terms and conditions of the lender is buildings insurance. So I believe.....Yes it could cause problems. If you jointly own the house, and although you do not reside there, you are equally as responsible to ensure the building has adequate insurance.

Why has she cancelled it?

monty-doggy

Because she says she can't afford it. I want to force a sale on the house.

I'm already paying half the mortgage plus maintenance for the kids but she has her new man there for over a year now. Don't see why I should be tied to it anymore.

Problem is she has bad credit and can't get mortgage on her own.
If she gets one with him the payments will be £700 ish a month and at the min the interest oly is £284 so she has refused.

I'm wondering if I tell the mortgage company there is no insurance will the allow a sale or something?

melj16

she cant afford it?? you can get buildings insurance for like £20 a month or there abouts. If a person cant afford car insurance, they cant have a car.....same story with a house. Its not an option, its a legal requirement! Very irresponsible of her.

Hmm.....I would possibly warn her before hand that if she doesnt put insurance in place you will report it to the bank, afterall your children still live there so i'm sure you dont want them ending up having a rough time.

She should realise that you shouldnt have to continue paying for her house, especially if her new partner lives there now too. She needs to think of alternatives which match within what she can afford, instead of living in a house which is unaffordable for her.

I come across this regularly with my job - its an awkward situation.

Senior_Paper_Monitor

No they will simply put insurance on it and add it to the mortgage debt.

Easier (and probably cheaper) to put the basic building insurance on it yourself. Ensure that insurer is aware of your non resident owner status and any negative (CCJ or criminal etc) issues with the residents

monty-doggy

I'm sick of it. I more than pay for my kids and she missed 9 mortgage payments last year despite me paying half towards it, she just spent it.

She consolidated the arrears onto the end of the loan (which I'm still responsible for) so in essence I'm paying it twice!

She is so irresponsible but with three of my kids and one one the way surely she would be better in council housing which will be more affordable.

There is no policy or plan for paying the mortgage off in twenty years which is why I want it gone. That and I can't move on as she has wrecked my credit file.

monty-doggy

Senior_Paper_Monitor wrote: »

No they will simply put insurance on it and add it to the mortgage debt.

Easier (and probably cheaper) to put the basic building insurance on it yourself. Ensure that insurer is aware of your non resident owner status and any negative (CCJ or criminal etc) issues with the residents

What bearing does non resident owner have? Less entitlement if eventually sold?

wannahouse

sounds like the kids would be better off not living with an irresponsible mother, who has some bloke living in there too...!
it should be the law that if two parties take out a mortgage, and then break up, the sale should be a given, unless they AGREE to keep it!!!
i read so many threads where some poor sod is left paying half the mortgage , if not all, because the other one won't move out, and won't pay for living there... its not right!

melj16

i really sympathise with you!!

monty-doggy

I know. It's been five years now and I just want a clean break. Before she was living there on her own so law says she can stay there as the kids are there until they 18 or leave education but I'm sure it's different now she has her new fella there.

I don't want to make my kids homeless but I need to move on financially. I can't be responsible for her forever.

I'm worried what the cost would be to force a sale.