Buy to Let & Ex head doing drama - please help

ComplicatedLady

Where to start.....

Can anyone offer advise on the following, if so I would be so grateful.

My ex partner and I purchased 3 buy to let properties and when we split it was agreed through a separation agreement that I would take responsibilty for the 1 and he the remaining and we would both look to get each other of the mortgages.

His payments are up to date but often he fails to pay them on time, which has obviously affected my credit report. My payments are all up to date and not missed. So I have to suffer his mistakes on my report. Anyway my buy to let one term of 15 years is expiring March, so Bank of Ireland want £94k of me. I am reluctant to sell and want to continue as an investment for my children. The property is worth around £110K and my mortgage was int only.
I have asked BOI to extend the term on a variable rate but they wont and a mortgage broker has looked at my credit report and said that he will not be able to get me another buy to let mortgage on the property so I have no choice but to sell. Can anybody think of any other way I can keep this?

I desperately want to get off the other 2 mortgages, but he needs to take those steps being as though he will be taking over the mortgage and trying to get him to do it is like sticking pins in my eyes...Painful and useless!! Does anybody have any suggestions for this? I thought maybe the only way is forcing him to sell now as I see no other way forward if he is not going to play nicely. I need to sort my own mortgage next year and wont have any credit score left at this rate:(

kingstreet

Not my particular market, but will anyone do an 85% BTL remortgage, even if you were squeaky clean?

Thrugelmir

ComplicatedLady wrote: »

His payments are up to date but often he fails to pay them on time, which has obviously affected my credit report.(

The mortgage is your responsibility too unfortunately. Lenders won't be interested in your private arrangements. Merely the fact the account has not been met to terms.

Selling up entirely and starting afresh may be the best approach. As long as as you are associated with your ex. Further damage could be inflicted.

stator

Interest only BTL mortgages are a plague and need to be banned completely. Do the world a favour and sell up, you don't own much of the house anyway, all you're doing is exploiting the poor.