ibti

issashami

Hi,
I currently have a shared mortgage in the UK with my husband. my husband left me 3 years ago and went abroad and left me struggle to pay the mortgage alone. Currently I am working part time and getting a work and children tax credit. My questions are:
1. do I have the right to remove my husband name from the mortgage loan. I contacted my bank and they told me they cant do anything about that because he is not around??
2. My parents (living abroad) have proposed to pay off the outstanding balance if I sort my husband name out of the mortgage? My question is – How that will effect my tax credit ?? is paying the mortgage loan from my parent consider an income and would effect my HMRC tax credit?

-taff

It won't be considered an income but it might affect your credits because your income is now freed up from the mrtgage payments.

I have no idea how you'd remove him from the mortgage though....

getting-sorted-sarah

You'll need to see a solicitor about the mortgage. Maybe get some free advice at a local legal clinic?

Tax credits do not take account of your housing costs, or any of your outgoings, your entitlement is calculated only on your income, so owning your home outright should not make any difference to your payments. Your parents would be making you a gift of money, which if it was in your savinngs account would not affect your tax credits, so using it to pay off the mortgage should not affect the payments either.

Goldiegirl

As your husband is on the mortgage, and also joint owner of the house, the lender would need to get his permission to remove him from the mortgage., and for the property to be transferred to your sole name.

Do you have any idea of his address so you can contact him about this?

Otherwise, the only way to get him removed from the mortgage would be by court order, which would be expensive.

Another problem, even if your husband did agree to remove his name from the mortgage, would be whether the lender would agree for the mortgage to go into your sole name.

You say you are already struggling.... Under the new regulations you have to be able to demonstrate you can afford the mortgage now, and if the interest rates went up.

You say that your parents are willing to clear the mortgage. Would they consider doing that before your husband is removed from the mortgage? Then you wouldn't need any permission from the lender.

But, it would be best to take legal advice on this, as your husband might want his share of the property value,

edinburgher

You say that your parents are willing to clear the mortgage. Would they consider doing that before your husband is removed from the mortgage? Then you wouldn't need any permission from the lender.

But, it would be best to take legal advice on this, as your husband might want his share of the property value,

I agree with the second line 100%. I certainly wouldn't want to pay off an asset that someone else had a 50% interest in if they had walked out. What is to stop him returning to try and take 'his' half of something that is (legally) but not morally his?