Mortgage with an Ex?

MickeyBlue

Hi there, any help would be muchly appreciated.
So, in 2008 I bought a house with my ex girlfriend, and 6 years ago we split up, but she's still on the mortgage due to me not being able to get the full amount on my own, however I moved out for 2 years and rented the property out so it moved to a rental interest rate, nearly 3 years ago I moved back in and told the mortgage lender I had and they sent me the forms to change the mortgage rate, but I can't change it without her signing it.
When asked to do so her reply was 'It doesn't effect me so I'm not bothered'
So I'm stuck to a 40year mortgage at 5.19% that I can't change and it's not going down.
What are my options, what should I do?
Thanks, Mike

Thrugelmir

Sell the property and terminate your relationship with the ex would be my suggestion.

MickeyBlue

Thanks I'm in the process of getting a valuation done... 'But' I'm pretty sure there's quite a bit of negative equity 😔

Thrugelmir

Eight years later? Are you in NI.

MickeyBlue

No I'm from the uk?

Pixie5740

Northern Ireland is in the UK as in in the United Kingdoms of Great Britain and Northern Ireland.

If it's a joint mortgage then it is your ex's concern because if you can't/don't pay the mortgage then she is still legally responsible to pay it. Did she receive any of the rental income since she is a joint owner?

How much negative equity do you think the property has going by recent sold prices in the area?

AnotherJoe

MickeyBlue wrote: »

No I'm from the uk?

Oh dear don't go wandering around parts of Belfast saying stuff like that.

You need to get rid of this financial relationship just altering the interest rate still leaves her enmeshed in your financial affairs. You could perhaps threaten her that if she doesn't cooperate to help you sell then she gets to pay the whole mortgage as you won't be.