Mortgage after separation

sandbrook10

Hi,

Myself and my ex-girlfriend have a mortgage on our property, for which the term under the current rate ends in May 2016. Rather than sell and pay the redemption fee, we decided that I would move out, and she would remain in the property and have a couple of lodgers in, which will cover the mortgage and give her a little bit extra. I would be responsible for paying nothing during this time - we thought it was a fair compromise. We have made no legal changes to anything on the mortgage etc.

The mortgage payment has always come from our joint account in both our names, but she is now paying it from her account only.

Is there any reason why I should be wary of this? could she at point in the future say I refused to pay and she covered it? or does it really not matter to the lender, provided they receive payment each month?

Thank you for any comments.

Foxy-Stoat_3

Doesn't matter to the lender as long as they get paid.

It does matter if before your fixed term ends;
your Ex gets with another bloke,
has a kid or 2,
decides that she is not wanting to move out,
the lender doesn't think that she can afford the mortgage on her own,
you are stuck on the mortgage and deeds,
you want your equity out of the house,
you want to get another mortgage or not keen on getting your credit file trashed,
she stops paying the mortgage so you have to
and so on.

Or she wants more equity once sold because she has been paying all the mortgage from now on....

Look at other threads on here, it can go horribly wrong or be a-ok.

Just keep in mind that you are jointly responsible for the house, equity and debt and you are tied to a credit agreement with your Ex and while you may be on good terms now, that can quickly change if something happens in the future.

Good lucks

nubbins

I would be making a clean cut asap for most of the reasons listed by Foxy. I have read some horrible stories on this forum!

fev1983

Get free as soon as you can,,,I'm in a predicament myself now where my ex has a new fella and they want me to pay towards the mortgage on a house that iv not lived in for 5 years.
Payments are getting missed and looks like a repoession in the future..