Would like to remove my ex from house but problems...

BOBBY

The frustrating thing is that he has left me with about £30,000 of debt plus mortgage arrears which ended in us very nearly losing the house. This was due to him taking money from me (I was the higher earner) and telling me he had paid the mortgage when he didn't for about six months. I am paying these debts (secured on property) and will contunue to.

As you can see it is a rather difficult situation. The house is in negative equity as it is so it's not as easy as selling and buying another or renting somewhere because I will have no money to put down and will in fact still owe money.

Thanks for all your comments and advice

haras_nosirrah

If the house is in negative equity then you are kyboshed as you would need 10% equity to remortgage

warby68

The negative equity largely reverses the arguments.

At the moment he is on the line for the negative equity and given the events you describe, it seems better to actually keep him tied, otherwise the shortfall is all yours.

I can see why you want to remove his right to any future equity given how much debt you will have to deal with before you get there but cannot see that he would agree without also coming off the mortgage which looks virtually impossible to achieve in any case.

Is selling up and starting again with current partner really not better as at least you should only be on the line for half the shortfall ( I know its joint and several but you would bargain for no more than a half share) and some of his earlier behaviour would come home to roost.

Is your current partner unable to house you on his own income?

dlmcr

I think you are over complicating this. If you want a clean break, stop paying the mortage and let the house get repossessed. There will be probably a lot of money to be made up but the tie that needs to be broken will be broken. Not the outcome you want but the best outcome of a bad set of outcomes based on the circumstances you've described above. You will not get a mutal agreement with your ex around any of this, the fact that he stole mortgage payment money and got you into 30k debt proves this.
I also think your new partner needs to take responsibility in this situation, I know none of this is his problem but he should be willing to, for example, be willing to save the money up and put down the deposit and majority of the rent on a new property for a year because of the even greater impact on your credit rating that having the house repossed will cause for you.

Number75

Why are you and your boyfriend planning to have a baby in the near future?

You owe a LOT of money, and you're in negative equity.

You need to at least make a written agreement between you as to how the house equity will be split (or the shortfall).

Getting yourself sorted financially is more important than having another child just now.

Natasha.rb

Hi BOBBY,

I had a very similar situation but mine was not civil at all!
I got a declaration of trust that stated when I was ready to/could afford to move to a new deal my ex would sign the documents at the time. We had a already sorted all other finicial ties out.

18 months later new job and better affordability i was ready to remove him, he denied it all refused to sign etc etc.
Took him to court, judge took one look at the declaration of trust and signed the mortgage for me, removing my ex

Definitely worth getting a declaration of trust if your ex is happy with it at the moment. It's worth the money for a good solicitor and getting a good document drawn up.

thesilent1

Hi Natasha,

Sorry to hijack this thread but I am curious to know how you did this. I am in a similar situation but actually the ex who has moved out and we are divorced. Ex still lives in the home and I am keen to get my name off the mortgage as I am looking to buy a place with my current partner.

Hope you can explain how you managed to get the ex's name off?

Thanks