Old Mortgage with ex partner

rb211

I'm hoping for some advice on what should i do with a mortgage that I have along with my ex partner.

My ex still lives there with her new husband, 3 of my children (1 under 18) and his children.

The problem is the account is in arrears and my credit file is preventing me from being accepted for mortgages loans etc.. experian rate me as very poor, with the mortgage account showing a red 6 every month for the last 4+ years. I am quite happy for the ex to sell the house or remortgage and therefore remove me from this mortgage, however i don't think her or the husband will get another mortgage. They do seem quite happy to stay there as its interest only and therefore quite low payments each month. So this leaves me stuck and I'm not sure what to do about it, so any advice will be greatly appreciated.

Thank you

Dobbibill

Unfortunately, you would both struggle for a mortgage with accounts showing in arrears for 4+ yrs.

Have you spoken to the 'ex' to see what their thoughts are about it?
Is it possible to have a friendly chat to see what their thoughts are?
They may want to move on with their new partner now anyway.

National_Debtline

Hi rb211,


Unfortunately, because the mortgage is still in joint names the information about the mortgage account is still relevant to you and will be recorded on both yours and her credit file. Plus, you will still have a financial association with your ex which means that her credit rating can affect yours as well. You cannot financially disassociate from her until this debt (and any other joint debts) are cleared. The bigger issue here could be the property and the arrears.


If the property is in mortgage arrears then it could be at risk of repossession, depending on what your ex has done to rectify this (i.e. a payment plan). If the property was repossessed and there was a shortfall then, unfortunately, you would be liable for this (under joint and several liability) with your ex. On the flip side if there is a profit you should be entitled to half (depending on any other legal documents). Good luck,


Laura
@natdebtline