Getting Out of Mortgage?

ajbrynoffa

Split with my wife 10 years ago,she agreed shed take me off our joint mortgage asap.However 10 years on and im still on there.
Spoke to the Chelsea building society about a transfer of equity but my ex has to initiate that and she wont do it...just being awkward.
She has been on interest only for the whole 10 years and the mortgage has 9 years to run with 72k owing.
I would have gone to court to force sale but my 2 teenage kids live there with her and I dont want to turf them out as it were.
Im now in the position i`d like to buy another property with my current wife but the other mortgage is proving to be the stumbling block.
Any Id:mad:eas?

ACG

Speak to a solicitor.

enjoyyourshoes

Do whatever you can to get off the mortgage asap.

sammyjammy

If she is paying the mortgage and your teenagers are dependants then I would say you have a cat in hells chance of forcing her to sell up, maybe she can't afford to take you off the mortgage?

pennystretcher

How did you split the remaining balance of the first mortgage when you got divorced? You'll be still liable for it if your name is against it - have you checked that your ex-wife has money to pay it off at the end of term?

If I was you I'd get your name removed from it ASAP - forcing the sale if necessary.

ajbrynoffa

sammyjammy wrote: »

If she is paying the mortgage and your teenagers are dependants then I would say you have a cat in hells chance of forcing her to sell up, maybe she can't afford to take you off the mortgage?

She has paid the interest only for 10 years which is 363 a month. She has also had a bloke living with her for 9 years with a very good income. My 2 sons and stepson all live with her and give her a combined total of £480 per month in "keep". Shes quids in ,believe me !

ajbrynoffa

pennystretcher wrote: »

How did you split the remaining balance of the first mortgage when you got divorced? You'll be still liable for it if your name is against it - have you checked that your ex-wife has money to pay it off at the end of term?

If I was you I'd get your name removed from it ASAP - forcing the sale if necessary.

She certainly wont be able to pay it off at the end of the term.When we split I said I didnt want anything from the house and left it to hjer and the children on the proviso that she would remove my name from the mortgage as soon as possible or at the most when the children reached 18 which they did last year.This was documented in the divorce proceedings.

pennystretcher

So if she packs her bags and moves somewhere else with her new partner you are left to deal with the house...time to call your solicitor I think..

I bought my house from a couple who were not in speaking terms and their first couple of offers from other buyers fell through as they broke the chain due to delays..worked well for me tho! Selling a house if you can't get hold of your ex is near impossible..both mortgage holders have to sign the papers. I can see so many possible pitfalls in your current situation...:eek: