I need help getting my ex off my mortgage

geordient

I purchased my house with my ex 9 years ago. We broke up 5 years ago. She left and refused to pay the mortgage. I kept paying the full mortgage myself all this time.

She has now left the country and is not contactable. Can I just get rid of her from the mortgage?

I'm self employed so don't think anyone will give me a mortgage, despite earning more than enough to pay the mortgage myself for the last 4 years or so.

I've also put my savings in to improving the house, so I have nothing to go to the bank with to sign up for a new mortgage.

I'm at a loss as to what to do next. Can anyone help?

Bilisa1309

Can't offer any help, but very similar to my situation so will be watching to see if anyone has any advice to offer.
It's a toughie isn't it

nidO

Have you spoken to your current mortgage provider?

Generally they will only consider this type of change if you alone meet their affordability criteria for the repayments, the fact that you are self employed won't immediately discount you though assuming you have been for a while and have accounts backing up your earnings, and the fact that you've been affording the mortgage yourself for 4-5 years would suggest you earn enough for this.

Dave_Ham

Unfortunately this has nightmare written all over it for a few reasons. The first is your Ex, as you cannot simply remove them with no authority. If you genuinely cannot make any contact and have legitimate reason for removal, then solicitors have to follow an exhaustive list in order to remove them legally.

Secondly, whenever someone says they can easily afford a mortgage and are self employed but assume they cannot get one it translates as you do not declare all of your income.

Being self employed does not prevent a mortgage being achievable, but under declaring numbers potentially does.

You may not be as far off as you think though, what is the mortgage value, property value and your last 3 years declared income?

Most lenders now want SA302's, which clearly shows your declared income.

All the best

Foxy-Stoat_3

Solicitor fees will be around £750 if the ex is contactable and has agreed to sign the transfer of equity over to you.

If you cannot get in contact with the ex then your best bet is to choose a solicitor and ask for a free 30 minute meeting to go over your options.

If your ex was contactable then she will have every right to 50% of the equity if sold at the market rate, irrespective of her paying or not paying the mortgage for the last 5 years and you spending your cash on it. So she may well ask for a lump of money to sign the equity away. Whether or not a judge would see it your way if you decide to fight it legally is another matter but it would cost you many thousands to find out.

So what is the outstanding mortgage and approximate current value?

Whats the likelihood you can make contact with your ex? (facebook, email, relatives etc) if yes:

Whats the likelihood of your ex wanting any cash to sign the paperwork?

If she wants cash, how much?

If you cannot get in contact whats the likely solicitors and court fees and possibility of success?

What is the likelihood of you actually getting the mortgage on your own?

Lots of questions you need to find answers for before you pursue any course of action and spend any money.

Good luck!!!

Nevermind309

the person who said this has nightmare written all over this is absolutely correct. been stuck in the same situation with my current girlfriend and her ex who she still has a house with,

they split up after a year of buying it
they rented it out
after a year when tennents moved out we agreed to do it up move in and potentially buy it/take over the mortgage, he was just going to walk away as no money in it
£1500 later on painting/carpets etc he decides he wants £3000 to sign it over
he's not paid the mortgage when it was empty my good lady did that
she gets sick of it and just threatens to walk away from it and let it get repo'd as she was living with me
he takes it over puts one of his mates in it pays the mortgage late/spends it on cocaine the odd month when he fancies putting late payments on my partners credit report
he cant take it on himself as doesnt earn enough and house is in negative equity and he needs another deposit even if he could afford it in the banks eyes.....phheewwww

ah and just to add this has been going on for 6, yes 6 years!!!

NIGHTMARE!!!!!!!

But good luck of course

geordient

Ok, just to update you on a few details.

The property was £120,000 when purchased.
The mortgage is at £109,000 and valued at £115-£120,000.

I've been self employed for <1 year, so do not have 4 years worth of declared earnings to show. Thanks for wrongly presuming I am some sort of tax dodger!

I know my ex is on facebook and may consider signing the property over to me, but obviously I'd have to ask (I don't use facebook).

What's the process for going this route?
Does the mortgage just keep running as is with the current vendor, or do I need to apply for a new mortgage myself?
Would I be classed as a first time buyer?
Would I be selling the house to myself?

Excuse all the questions, I hope that clears things up a little. Thank you.

Foxy-Stoat_3

Ok, best case, you go to the lender and ask for a transfer of equity to just your name. You meet their lending criteria and terms based on your income. You both sign a transfer of equity form, mortgage fee will be around £100-£200.

The lender sends the forms to your chosen solicitor for you both to sign in person after showing them your id's. Pay the solicitors fees £500-£1000 and your done.

There are a number of issues I highlighted in my other post:

Can you actually get a mortgage in your name only, your equity looks a little low for the length of time your mortgage has run.

Will your ex sign the paperwork?

Will your ex want any consideration, although there isnt much equity at the moment....was this an interest only mortgage?

Will your ex use their own solicitor and who will pay their costs?.

This IS a money saving forum so I would be willing to send you a free tin opener for the can of worms you will open!!!

Dave_Ham

geordient wrote: »

Ok, just to update you on a few details.

The property was £120,000 when purchased.
The mortgage is at £109,000 and valued at £115-£120,000.

I've been self employed for <1 year, so do not have 4 years worth of declared earnings to show. Thanks for wrongly presuming I am some sort of tax dodger!

I know my ex is on facebook and may consider signing the property over to me, but obviously I'd have to ask (I don't use facebook).

What's the process for going this route?
Does the mortgage just keep running as is with the current vendor, or do I need to apply for a new mortgage myself?
Would I be classed as a first time buyer?
Would I be selling the house to myself?

Excuse all the questions, I hope that clears things up a little. Thank you.

Your post read to me that you had been self employed for last 4 years, clearly not the case.

Do not do anything for now. Unless you are a contractor (and a truck load of other variables to consider) you will not get a mortgage until you have at the very least 1 set of accounts.

This will be the same with a new mortgage lender, or existing mortgage lender.

Good luck

Thrugelmir

Have you ever formally divorced ?

Have you sought a financial consent order?

Foxy-Stoat_3

Thrugelmir wrote: »

Have you ever formally divorced ?

Have you sought a financial consent order?

Don't know if the "ex" was married to the OP.