Mortgage agreement

OhYeah

Good morning everyone, I have a joint mortgage with my now ex husband. He walked out some years ago and I have been paying for mortgage on my own since. I have provided the mortgage company with his new address but they refuse to contact him as they say he hasn't provided them personally with his address. All letters are addressed to me only never to him so somewhere along the line they have amended their records to show only me at this address but are still refusing to amend their records to show his new address or to even contact him there. Can they do this? They say there is a contract which makes us both liable and yes I agree but surely a contract of this type we are both responsible and when only one of us is being held accountable that is not entering into the spirit of what a contract is about? Is this not unequitable? Thanks

StuC75

Since you are paying the mortgage then they have no need to track him down - it would only be if payments stopped and they had to enforce the Joint & Several Liability of the payments that they would need to contact him..

Whats more pressing is what can be done regarding any claim he may have down the line if he is still on the mortgage \ deeds ~ though assume that's been taken care of?

OhYeah

StuC75 wrote: »

Since you are paying the mortgage then they have no need to track him down - it would only be if payments stopped and they had to enforce the Joint & Several Liability of the payments that they would need to contact him..

Whats more pressing is what can be done regarding any claim he may have down the line if he is still on the mortgage \ deeds ~ though assume that's been taken care of?

So I can't force the mortgage company to change their records even though they have already done so in the past? (Mortgage/deeds has been dealt with). Its the amendment to their records that is of major concern to me at the moment. Thanks

Foxy-Stoat_3

If the mortgage is still in joint names then you should really arrange to transfer the equity to just you only. Assuming both parties agree and you are accepted for a mortgage in your name only, it shouldn't cost more than £1000 to remove his name from the mortgage and deeds.

Yorkie1

Foxy-Stoat wrote: »

If the mortgage is still in joint names then you should really arrange to transfer the equity to just you only. Assuming both parties agree and you are accepted for a mortgage in your name only, it shouldn't cost more than £1000 to remove his name from the mortgage and deeds.

Except that leaves the OP with all the liability and the ex with the right to half the property as he would remain a joint owner. I'm not sure that's in the OP's best interests.

Thrugelmir

OhYeah wrote: »

that is not entering into the spirit of what a contract is about?

Contracts are legal documents that set out the responsibilities etc of all the parties that sign up to it. So there's no spirit as such. In fact totally the opposite.

Foxy-Stoat_3

Yorkie1 wrote: »

Except that leaves the OP with all the liability and the ex with the right to half the property as he would remain a joint owner. I'm not sure that's in the OP's best interests.

Transfer of Equity to remove the ex off the mortgage and deeds would make the ex nothing to do with the property so not a joint owner. This is far better than doing as the OP will have no control of the ex's finances but will effect her should anything bad happen to the ex's finances or personal circumstances.

OP may have to pay the ex some sort of consideration for them to agree...or not depends on the situation.

Yorkie1

Ah, your post wasn't clear - you mentioned only equity, and in the context of a sentence referring to the mortgage, so your suggested appeared to relate to the mortgage only and not also to the deeds.

OhYeah

Thanks everyone. What I want to do is transfer the house into my name only. It has been agreed that I should have the house in exchange for no claim on his pension etc. I have just recently tracked him down after a lengthly search. I have provided the mortgage company are refusing to amend their records which is delaying the ultimate goal of getting the house entirely in my name so I can down size.

OhYeah

Foxy-Stoat wrote: »

Transfer of Equity to remove the ex off the mortgage and deeds would make the ex nothing to do with the property so not a joint owner. This is far better than doing as the OP will have no control of the ex's finances but will effect her should anything bad happen to the ex's finances or personal circumstances.

OP may have to pay the ex some sort of consideration for them to agree...or not depends on the situation.

This is what I want to achieve. I want to take on the mortgage on paper as well as what I have been doing for years anyway. In addition I want to change the deeds so I own the house and then enabling me to downsize. Sorry I hope this is making sense. I am going to instruct a solicitor ultimately but I don't have much money and I wanted to do most of the "leg work" myself.

Foxy-Stoat_3

Go to your lender and tell them you want to transfer the equity into your name.

They will run an affordability check and if your wages allow they will do the necessary paperwork for you and ex to sign.

Once that has been returned they should send it to a solicitor of your choosing for them to do the transfer of the deeds. You will both need to sign more paperwork at the solicitors with some form of ID and that should be that.

Costs will be £1000 or thereabouts.

Assuming your ex is happy to sign his equity away, including his liabilities and your wages allow the mortgage in your own name 6-8 weeks is the normally time scale although I am waiting for my lender to send the paperwork off to the solicitors....only been 4 months !!!!