Removal of name from 100% Mortgage

J-86

Hi all,

I have recently got married and my wife (6 years) and unfortunately she has a mortgage on a property with her ex partner. She bought the property about 8 years ago and they got a 100% mortgage. Cut a long story short, he cheated on her and his new girlfriend moved in and is paying my wife's share of the bills.

The property is apparently in negative equity and he ex partner is self employed (not sure if that makes a difference).

Does anyone have any suggestion what we can do as we have been renting for the last 6 years and we have a baby on the way. This mortgage issue is stopping us from moving on.

Any advise would be greatly appreciated

betmunch

If the ex and his new girlfriend are not able/willing to take over the mortgage themselves and free your wife from the commitment you will need to get a mortgage while including her current mortgage as a commitment.

There's also the possibility she could force the sale, but I have no idea if that is possible

Thrugelmir

If the property is in negative equity then there are very limited options available. All of which will require the co-operation of both parties.

The problem for your wife is that she still has a joint financial liability for the mortgage with her ex. This impacts her ability to obtain further borrowing.

The issue should have been addressed some years ago.

amnblog

This is a good chance that your wife does not have a '100%' mortgage.

What they are more likely to have is a 90% or 95% mortgage with an additional unsecured loan with the same lender.

They may be a little more wiggle room than apparent initially.

The bigger barrier is that the other couple seem to have little incentive to change anything.

Legal advice would appear to be the first point of call.