Options for stopping paying my Ex's mortgage

fewcloudy

hippyjim wrote: »

Thanks all.

My ex would be unwilling to sell, as her mother lives 2 doors down. She wouldn't be able to buy me out even if I sold my half to her for a penny, as previously mentioned, so separating the finances by selling doesn't seem likely.

Does she have the choice though?


I think I'd certainly be discussing that a bit more earnestly rather than resigning myself to your existence for the next X number of years...


fc

hippyjim

Yeah, the term was restarted when I was added to the mortgage. So it's about 18 years to go.

Fair point FC. Having just looked at those numbers, I don't fancy trying to start a mortgage in my sixties!

The fixed rate ends next year and it's up for review then I believe - I think at that point I'll push again if nothing happens to improve things beforehand.

Thanks all.

Thrugelmir

TrickyDicky101 wrote: »

That's incorrect afaik. Unless agreed by the lender in advance, the contractually agreed repayments won't be being made in full and hence the capital element will accrue as arrears although, in the absence of other charges, the total amount owed will not increase. This will still impact the OP's credit file.

If there's an agreement in place for the property to be sold, and there's a proactive attempt to do this, then there's a backstop. Lenders have a duty of care to borrowers. Could be described as a mortgage holiday. If this were to impact credit history. Then a notice of correction could be added to the file giving a full explanation. Which would negate the issue entirely as there's tangible evidence to support the statement.

ryan7

I appreciate that you don’t want to be seen as the bad guy by selling up / kicking your ex and kids out however its unfair on you and your son that the current situation remain the same.
As fewcloudy mentioned, you should definitely be looking to discuss matters again. As you said, it was only an amicable separation as your ex-partner got what she wanted. What about you?

I hope you manage to resolve things.