Removing name from mortgage/bank account

lbm123

Looking for some advice please on removing name from mortgage/bank account.

My ex and I bought a house together in 11/2007 we separated in late 2010 and I left the home with our daughter, he stayed in the property and I took over the car payments in place of half mortgage until I moved into a property myself the following year. He told me he couldn't get a mortgage himself so I naively left him to it, as his parents had given us the money for the deposit originally, with an agreement that it would be paid back once house was sold. I've been made aware he's been renting the property out for over six months as he has moved in with his gf. I haven't signed anything to agree to this nor has he mentioned anything to me about it.

We also had a joint account set up for the house deposit to go into which had a 500 overdraft, I lost my card within weeks of having it but didn't do anything about it as it wasn't supposed to be used. On checking my credit score I've found out it's maxed the overdraft and he seems to be just making minimum payments to keep it from over the overdraft.

Thank you in advance! Haven't a clue where to start! :eek:

AnotherJoe

You need to get a divorce and settle up your financial positions by splitting it all.
You may be aided in getting off the mortgage by the fact he may be able to get a BTL mortgage (I wonder if he's told the mortgage co he's letting?) .
At the moment you are equally liable for the mortgage and the overdraft.
A solicitor would therefore seem to be a good place to start !

lbm123

Sorry should have said, we weren't married. We were cohabiting for almost 5years in total.
Wasn't sure how things would work with selling the house as I haven't had any involvement. Would I be entitled to anything.
I don't see that he could have told mortgage company as I haven't been contacted/asked to sign something.

AnotherJoe

lbm123 wrote: »

Sorry should have said, we weren't married. We were cohabiting for almost 5years in total.
Wasn't sure how things would work with selling the house as I haven't had any involvement. Would I be entitled to anything.
I don't see that he could have told mortgage company as I haven't been contacted/asked to sign something.

Well yes you'd be entitled to half of the sale proceeds. You'll have to decide between you if thats fair, on face value you got the short end of the stick, letting him pay into a house which will likely appreciate in value and has the option to get tenants in to pay the mortgage, whilst you got a car, which will only depreciate in value and is unlikely to get tenants in

Dont forget, when you are entitled to something, that also includes the liabilities. That means any negative equity, paying the mortgage and so on (even though you informally agreed he took that on).

You need to tidy this up as soon as you cam

Thrugelmir

How much equity is there in the property if it were sold? As this would determine would options are potentially available to you. Is the mortgage on a repayment basis.

lbm123

Only had the car for around six months and then gave it back to him as couldn't afford repayments when I moved into a property of my own. It was on finance, in his name. He then sold it I believe.

At the time I thought I was choosing the better option, totally naive!!

The mortgage on the property is currently just over 60k, property next door is currently up for sale at just over 80k but does have garden double the size. So I would hope ours would sell for at least 70 so deposit could be paid back to his parents and pay any fees (we have a legal signed agreement that deposit is paid back to them when property is sold)

Thanks again for all your help