Remove ex from mortgage

weebubbles

Hi, I am in need of some advice and hope people can help.

Basically my ex and I separated Oct 2016. He moved out and I remained in the house with our 2 children. I have been paying the mortgage by myself ever since.

We had an agreement drawn up by a solicitor that I have until the end January 2019 to get the house in my own name or it gets sold. As its the childrens home I don't want to sell. If I get it in my own name he gets £1000. If it gets sold he gets 20% after mortgage repaid and all fees etc paid

My mortgage is with the halifax. How do I go about getting his name removed? Do I go through a new mortgage application? Do I have to go to halifax? Can I remortgage woth a different lender? Would I be better using a broker?

I earn £31000 a year, get £2600 a year maintenance and £1788.80 a year child benefit. Would that be enough to get a mortgage on my own? The outstanding balance is £111,000. Apart from my mortgage which is £630 a month, I owe £3800 on a credit card and £1000 on a student loan. My credit score on experian is 999.

Thanks for taking the time to read this. Any advice would be really appreciated.

YHM

You would need to remortgage and effectively apply for the mortgage on your own.

Any idea if you are on a fixed rate? If so, till when?

Financially, it stacks up and shouldn't be an issue just in your name.

weebubbles

Thank you for replying.

I have 5 sub accounts all on a fixed rate
1. £1075 till 31st Jan 2018 (fee)
2. £918 till 31st Jan 2018 (fee)
3. £85,000 till 31st Oct 2018 (was our original mortgage)
4. £9300 till 31st Jan 2018 ( additional borrowing for home improvements)
5. £15300 till April 2019 (additional borrowing to consolidate debt)

Am I better going with a broker? Also will a bank ask for any proof that my ex is happy for his name to come off mortgage or do they only need proof when it comes to removing his name from the deeds?

ThePants999

When you say "if I get it in my own name he gets £1000", was that part of the solicitors' agreement? I.e. he's committed to selling you his share for £1000?

weebubbles

Yes he gets £1000 if I get house in my own name by end Jan 2019. If I dont then the house has to be sold. That is in our agreement that we both signed

ThePants999

I hope it's worded something closer to what I said than how you put it. Getting the house into your name only will require his agreement/signature, so if he's not obliged to provide it then he's just going to stall until next year

weebubbles

Slightly worried now. It says jan 2019 or sooner. He has signed the agreement to show he has agreed to this and my solicitor says if he doesnt do it then I take him to court and he has to pay the fees

ThePants999

Sorry, I shouldn't be worrying you unduly. If you've had a solicitor representing your interests in drawing up the agreement, it's vanishingly unlikely that they've left in a glaring loophole like that.

YHM

I would always recommend using a broker, but I am biased on that point....

dimbo61

Your situation is complex and using a mortgage broker might be money well spent.
They will check your credit file, help you complete the paperwork and search the whole of market for a deal that suits your needs.
So speak to family and friends to find a " whole of market mortgage broker "