Whats the average time it takes to remortgage

Newstart2014

Hi


As part of my divorce consent order my ex had to remove me from the mortgage 'using his best endeavours' . Well 18 mths later still nothing. I took the case back to the Family Court in March, where he told the judge he had an offer from Halifax dated the 4th March and that if would take 8wks or so to complete. This hasn't happened so I have again submitted papers back to family court and have a date on the 5th August that we have to attend. This would surely be when the offer of 6mths expires. I am asking for either some for of indemnity or he has to sell the house. The need for indemnity as interest rates will go up, and if he can't afford to pay, I surely will not. It will have to be repossessed as he's had many chances to sort out.


I have since bought a new house with my partner, but on paper I'm liable for a lot (approx. 750K all together) He is sitting happy in paying £580 a month on a £280k mortgage which is interest only and being in London the house is valuated at approx. £450k. I am not looking for any of the equity just to be let loose of this mortgage. Its a form of control. He works and earns £56k (that's what he told the judge), and just holidays most of the time.
I receive no monies from him as way of maintenance but we are meant to share the financials for our daughter. And surprise that isn't the case, but I just deal with it, as she sees it for what it is regarding her father.


I have worked hard to make sure I've been able to buy a new home for my 15yr daughter, and in 18mths will want to re-mortgage for a better rate. Still being on this mortgage will make it very difficult.


Is asking for an indemnity the right way, or should I push for the sale. The sale of the house was also in the consent order as a way of removing me from the mortgage and deeds.


When I've asked what the status is, he just says no update, or still awaiting from them. He's unable to do a Transfer of Equity as deemed not earning enough, and then lied on the application when adding his brother. So has had to go to another leading, although he's told me it'll cost him another 10k a year.


Any advise would be helpful

HappyMJ

Ages...he sounds a bit on the lazy side. You do need to continue pushing but the problem is every time you write a letter then he has a month to respond which by the sounds of it he is taking advantage. Why? I have no idea.

You'll need to use a broker to remortgage if that's what you want to do as they can word the application in a way where the mortgage expense is not part of your expenses as he pays for it.