Surely reposession can't be the ONLY solution?

Molennium

As part of my divorce settlement I was awarded the house, as my ex wasn't working and wasn't providing support for our 2 children.


Since then, I've been made redundant and I've been only just earning enough to pay the mortgage on fixed term contracts, so I was unable to remove my ex from the mortgage, although he's been taken off the deeds at the Land Registry.


Now my son's been diagnosed with autism, and my dad's got cancer, and I can't work full time any more, and so I can't pay the mortgage, the house is unaffordable.


Basically, because my ex won't consent to sell, I've been told that my only way out is repossession, and the lender says that when they repossess, they will only pay out the remaining equity in a cheque in joint names, even though the court order says that the house should pass to me!


It's such a mess, and with the family problems, I'm so overwhelmed with all this, I don't know where to start, but I've spoken to the local Citizen's Advice Bureau, and they said to write to newspapers or Martin Lewis as they didn't have a clue!


I would be really grateful if anyone has any advice or experience of something similar.


Many thanks in advance


Molennium

ACG

If your house is repossessed im sure i dont need to tell you that will cause you problems for a long long time to come (although under the circumstances i imagine its quite low in your list of priorities).

You could go to court and force the sale of the property.

As the mortgage is in joint names your ex is still jointly liable for the whole mortgage so in theory you could take him to court and ask him to pay his share.

bertiewhite

Can you re-mortgage with the same or different lender in order to make the house more affordable?

I've suggested this because I got a better deal with my current lender just by phoning up and asking. Because the house has gained a bit of value and the mortgage has dropped, I'm in a different LTV bracket than when I took the mortgage out.

How long have you had the mortgage & have you actually had your house valued as part of the divorce settlement because when I got divorced it was based on best guess.

Molennium

Sorry, should have stated that the divorce settlement indemnified him from future mortgage payments, so the problem is mine alone.


I can't remortgage as I haven't got a permanent job, so it looks as if I might have to go to court to force the sale.


Thanks, I know selling is a much better option than repossession.

ACG

He may not have to make payments but if he doesnt then it will affect his credit file.

If he wants to be awkward and not sell the property fine, but if you go into arrears its both of your reports your going to drag down not just your own... that might give him an incentive to agree to sell.

Thrugelmir

Molennium wrote: »

Sorry, should have stated that the divorce settlement indemnified him from future mortgage payments, so the problem is mine alone.

The divorce agreement does not protect him if he is still named on the mortgage.

duchy

I'd get a free half hour of advice with a solicitor to examine the possibility of going to court to force consent to the sale.

Considering the problems with HIS child forcing you to give up work-I can't see a court been unsympathetic

newdud

Seek legal advice from the CAB in the first instance.
Sound like a sticky situation

tinkerbell1985

I don't know enough about this myself, but you could look at the Mortgage Rescue scheme offered by the government through appointed agents.

This is where basically (if you are approved) the appointed agent on behalf of the government can purchase your property from you and repay the lender what's owed and you can remain living in the property as a tenant.

https://www.gov.uk/mortgage-rescue-scheme/overview

You would need to speak to your Local Authority to get a referral in your area, but the scheme is only open to new referrals until the end of the month, so you'd need to get your application in quickly, before the 31st.

I'm not sure exactly what they will do in relation to consent from your ex (they will need some sort of consent) but I believe they can negotiate with him about it.

It's worth looking into perhaps?

bertiewhite

Molennium wrote: »

I can't remortgage as I haven't got a permanent job, so it looks as if I might have to go to court to force the sale.

Not even with the same company? On the grounds that a better interest rate for you means they keep a customer? Have you actually looked at your current LTV to see if it's changed?