Leaving joint mortgage

Jacko_amz

Hi everyone some advice needed please.

My partner has a joint mortgage with his ex partner who is still living in the property with their 6 year old son. The house is in around 20k equity, the problem being she will not sell or buy him out

He does not wish to be on this mortgage anymore and we wanted to know what his options are? Am I right in thinking that until the child is 18 he cannot force a sale? She is managing to pay mortgage and all bills, partner does not pay any money towards it since he left 2years ago.

Thank youfor reading x

amnblog

What's the plan for his son?

Jacko_amz

The plan? To continue living with the mother. It's not about wanting to 'kick' them out but just to be free from this mortgage.

Let_Us_See

Whilst the mother has continued to pay the mortgage without assistance, it does not mean she will be able to 'afford' the mortgage in her own name, nor would the lender release your husband from his current commitment if this was the case.

Foxy-Stoat_3

To be free of the mortgage both parties need to agree without trying to force a sale, as there is a minor this will be more difficult or impossible.

So the lender needs to agree that the Ex can afford the mortgage on her own. If they do then your partner could agree to sign a Transfer of Equity and be removed from the mortgage a deeds, he can either do this with or without consideration. As the Ex is not going to buy him out then the only other option is to take no consideration for the house and walk away.

Jacko_amz

i can't see the mortgage company agreeing to her paying it alone as she works less than 16hrs a week and claims benefit. It doesn't look like there's a way forward for him at the moment and it's such a shame. Thankyou for your responses xx

Foxy-Stoat_3

Then I would do nothing until the Ex can not longer afford the mortgage.

I do not think a Solicitor will advise your partner that making his Ex and 6 year old homeless is in the best interests of everyone just because he no longer wants to be on the mortgage.

Hopefully she will continue with paying the mortgage until such time as the lender decides she can afford it, this won't go away though.

JimmyTheWig

Is it a repayment mortgage or interest only?