Stuck on a mortgage with my ex - please help

Happygirl35

I've been split up with my for 7 years now and we have a mortgage on a house he is living in. When I left we agreed that he would pay for mortgage and my name would be removed as soon as it could be. I have not paid anything towards this house in 7 years and have no financial interest at all. I just want my name removed. He has gone into arrears a couple of times but always manages to catch up. He won't sell the house my mortgage company will not agree to transfer of equity until he has no arrears and has kept up payment. I have mocked on with my life, I am recently married and have a family. Anyone with any advice?

Pixie5740

Could your ex get a mortgage in his own name and then buy you out of whatever your share is? Alternatively you would need proper legal advice to get a court order to force the sale of the property.

Happygirl35

Because of the arrears on the mortgage I don't think mortgage company would. House is in negative equity aswell. Spoke several times to the MC and as we took the mortgage out together we're both liable. Despite him paying everything they won't release me and he will not sell. I'm at a complete loss. If I force the sale I have a feeling it will cost me a lot of money as he will dig his heels in

Thrugelmir

Is there equity in the property?

Happygirl35

No none - even if there was I'm not interested just want my name removed. Going to struggle for a while to get something with my husband which is also extremely frustrating

Thrugelmir

My comment was with a view to forcing a sale. If the mortgage is on an interest only basis then difficult to see an exit route. Unless house prices increase in value. I empathise with your position. As you are facing potential a very difficult financial position. I would suggest having some savings put by in case.

BitterAndTwisted

Unless the two of you have funds set aside to cover the negative equity upon sale you haven't a chance in hell of getting him to take over the mortgage alone. Expecting him to remortgage in his sole name when the property is worth less than the mortgage being paid on it and you get to walk away scott-free is not reasonable.

Pixie5740

Something that's just occurred to me is that if you have a joint mortgage with your ex you will be financially linked so the mortgage arrears will negatively impact your credit history. Do you and your husband have any joint accounts?

Do you have money that you could "put into the house" to counteract the negative equity?

Guest101

To force a sale u could always move into the house. That usually works! But u will need to cover the difference

19lottie82

You can't just "have your name removed", your ex must apply for, and be accepted for a new mortgage in his name only. Is that a possibility?

You could take him to court to force a sale but you will need to cover legal fees and any negative equity.

motherbored21

Pixie5740 wrote: »

Something that's just occurred to me is that if you have a joint mortgage with your ex you will be financially linked so the mortgage arrears will negatively impact your credit history. Do you and your husband have any joint accounts?

Do you have money that you could "put into the house" to counteract the negative equity?

Keep the mortgage in your previous name, then any arrears shouldn't impact on your new status, I.e. new name.

I am in exactly the same boat as you, but 19 years down the line. I am going down the court route to get things sorted.