ex wont release me from mortgage

pigpen

You could sign the deeds of the house over to her in lieu of child support.. so for example.. £10k equity in the house.. you are entitled to 50% so £5k.. BUT.. you pay £500 a month child support.. you could agree to not pay the child support for 10 months in stead of getting your 50% share of the equity but the house then becomes hers.

This does not get you off the mortgage but it does enable you to get another mortgage in your name.

This CAN be done, because I have done it.. and my friend, on my example has just completed hers last month to.

She then gets to stay in the house and you get to move on.

ETA... AND.. if she can prove she has paid the mortgage without your help for 6 months once you are removed from the deeds she can then POSSIBLY get you removed from the mortgage (my mortgage company are in the process of doing this for me) it is easier if you sign the paperwork and agree to it but if you refuse the mortgage companies legal team can force you off it.. which is what mine are having to do because my ex is a douche.

silvercar

pigpen wrote: »

You could sign the deeds of the house over to her in lieu of child support.. so for example.. £10k equity in the house.. you are entitled to 50% so £5k.. BUT.. you pay £500 a month child support.. you could agree to not pay the child support for 10 months in stead of getting your 50% share of the equity but the house then becomes hers.

This does not get you off the mortgage but it does enable you to get another mortgage in your name.

This CAN be done, because I have done it.. and my friend, on my example has just completed hers last month to.

She then gets to stay in the house and you get to move on.

ETA... AND.. if she can prove she has paid the mortgage without your help for 6 months once you are removed from the deeds she can then POSSIBLY get you removed from the mortgage (my mortgage company are in the process of doing this for me) it is easier if you sign the paperwork and agree to it but if you refuse the mortgage companies legal team can force you off it.. which is what mine are having to do because my ex is a douche.

You can only get a new mortgage if the lender agrees, no guarantees they won't tak into consideration the old mortgage liability.

I would say the chances of getting someone removed from a mortgage without having the income to justify taking the mortgage alone are slim these days, particularly with the lenders being required by the ombudsman to ensure people can afford their commitment. Possible but unlikely.

Kynthia

Removing yourself from the deeds but not the mortgage seems a strange action to take. You would still be liable for the mortgage but have no entitlement to any equity or have any say in the property. You would probably lose any right to force a sale through the courts should you ever wish too. Plus the mortgage debt would still reduce your affordability when it comes to buying a new place and how much a new mortgage company would lend you. The only advantage I can see is that it would probably mean you wouldn't pay the higher stamp duty rate.

waamo

dibblethetiler wrote: »

Have used the services of a solicitor to do basics on financial statements. but because my wife is being difficult, I've been quoted £5500 to proceed with a court hearing.
Hence the reason for a settlement between us... without costly fees from so called professionals.
More like robbers, without the masks.

That might look cheap if you are stuck paying a mortgage for the next 10-15 years.

dawyldthing

dibblethetiler wrote: »

we've been to the mortgage provider, to ask about her taking the mortgage on. they've said that she's unable to as " the computer says no", although it's clear she can through wages and tax credits, etc. In fact, we both can't afford to pay the mortgage going on their criteria... even thogh we are.:rotfl:

Then why not let her pay the mortgage. Yeah you won't get the balance to start again but she's housing the kids so it would be the best of both worlds

pigpen

silvercar wrote: »

You can only get a new mortgage if the lender agrees, no guarantees they won't take into consideration the old mortgage liability.

I would say the chances of getting someone removed from a mortgage without having the income to justify taking the mortgage alone are slim these days, particularly with the lenders being required by the ombudsman to ensure people can afford their commitment. Possible but unlikely.

A lender has to agree to any mortgage so that isn't really a reason to not try.

My ex got his without issue (from Halifax) a few years ago.. he got the full amount based on his income and they totally ignored the joint one. So it is still possible.

The only income I have is tax credits, board money from my son, maintenance payments from the ex and child benefit and the mortgage company didn't say no to me taking the mortgage on by myself.. but, I have been paying it by myself for 9 years. They wanted 6 months of me paying the mortgage payments without late payments (I am 21 months ahead due to overpayments) and a bank statement and a full income/outgoings form filled in. And my credit rating is shockingly bad.. so they pretty much ignored that too!

You can but ask, the worst they can say is no!