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Joint Mortgage - Seperation

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skintmummy
skintmummy Posts: 190 Forumite
in Mortgages & endowments
Hello


I am in a bit of a difficult situation, myself and my ex have separated and not on good terms.
I have been paying the mortgage since he left in April and its interest only. I want to see what options I may have in removing him from the mortgage, I can afford to pay the mortgage I just want to remove him from it.


If more details are needed I will post more.


Any advise would be great.


Thanks
Skint Mummy

Comments

  • silvercar
    silvercar Posts: 49,615 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    You will need his agreement and the lender's consent.

    The lender will need to be satisfied that you can afford the mortgage on your own.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • YHM
    YHM Posts: 650 Forumite
    As above. You would need to apply to your lender to remove your ex from the mortgage. This in practice would mean the mortgage would be reassessed as a sole mortgage, including releasing any funds to your ex that he / she would want out of the property.

    If agreeable by your lender, then you would undergo a legal process called a 'Transfer of Equity'. This carries a cost which you would need to agree with a solicitor that picks up the case.
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice
  • Tom99
    Tom99 Posts: 5,371 Forumite
    1,000 Posts Second Anniversary
    Does you ex have equity in the house? If so they will want their share of it.
This discussion has been closed.
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