Mortgage in ex partner's name

geebee8

Long story but I will try to keep it as simple as possible!

10 years ago myself and my then partner purchased a property as a family with our two children. We were advised at the time by the mortgage company (Halifax) that it would be quicker and easier to apply for the mortgage in his sole name as he was the main earner and my credit rating wasn't the best. Being young and naive we agreed to this and went ahead in buying our first home. Obviously a huge mistake as two years later he thought the grass was greener elsewhere and moved out.

Fast forward 8 years and I still live in the house with my 2 children. I have paid the mortgage myself in full every month since the day he left by direct debit straight to the mortgage company, he has not paid a penny, which is absolutely fine with me.

I have tried everything to to re mortgage the house in my name but keep on hitting a brick wall and am now at a loss as what to do. I have spoken to Halifax, Solicitors, Citizen's advice and no one seems to know what I can do.

I have had a deed of trust drawn up by a solicitor to basically say I have a beneficial interest and he cannot sell the house. Also if I ever do sell the house myself all estate agent fees etc will be my responsibilty and all equity made will be mine.

There is possibly at least £30,000 equity in the house at the moment but I have been told a concessionary purchase cannot be made (for the amount left on the mortgage) as we are not related, and if I were to basically buy my own home off my ex I would have to pay the market price.

Selling up and starting again is not a possibility as I could not get a higher mortgage alone and afford to pay more than I am right now. Also the children are settled at the local schools and we are surrounded by family and friends. So in every way the house is ideal, the only problem being that the mortgage is still in his name.

Has anyone been in a similar situation or know of anything else I could do? Any advice would be greatly appreciated

chelseablue

Have you spoken to your ex about it? Does he want off the mortgage?

ACG

You can buy the property off your ex at a reduced price or the full market value or anything in between.

But you need his agreement and for him to sign the paperwork.

It is very simple to do if the ex is in agreement. If not, then there is probably very little you can do.

geebee8

Yes chelseablue and ACG he is 100% in agreement as he is now Married and obviously unable to get another mortgage as his name is tied in my house. Saying that however he has been nothing but difficult in giving me mortgage statements etc (as they are going to his address regardless of me constantly trying to get them changed back into my address) and he has done nothing whatsover on his part to attempt to get his name off my house.. I have no idea why as you'd think him and his wife would want to cut that final tie. Whether it's one last bit of control he thinks he has over me or what.. I don't know.

Thanks for that clarity ACG, I've obviously been misinformed again on that one. I have been told so many different things I don't know what to believe. I did think it was strange though that they were saying I would have to pay him more than what is left on the mortgage!

I will look again into getting a mortgage myself, the only other problem being is the deposit, as I don't have one at the moment with having to pay the upkeep and essential improvements to the house. I was hoping to use the equity as one, but obviously with it not being in my name I'm stuck with that one too.. so frustrating!

Thank you

Thrugelmir

geebee8 wrote: »

Yes chelseablue and ACG he is 100% in agreement as he is now Married and obviously unable to get another mortgage as his name is tied in my house.

Then leave him to play his games. Appear unconcerned. Point out that he's the one that's stuck. He'll come round when they want to undertake a move.

geebee8

That's exactly what I was hoping would happen.. 8 years later though nothing has changed whatsover. He's still playing the games and I can't carry on like this with him in control of my home anymore.

Surely you would think his Wife would have a problem with it too, but as far as I know they are happy renting and nothing has ever been mentioned or done to remove his name. I am the only one that has ever done anything to get this sorted. Bonkers I know.

ACG

You can use the equity as a deposit - again, assuming he is in agreement.

Drill this down to its simplest form and it is a purchase like any other. When I started as a broker, I used to overcomplicate situations like this, but it is nothing more than a purchase.

I suppose in an ideal world, you want to purchase it for its true value and then use the equity as a gifted deposit from your ex.

geebee8

Would this be possible ACG? Is it something you have come across before with the gifted deposit coming from an ex?

I have spoken to various people and all I am told Is that a gifted deposit would have to come from a close family member and Mortgage companies wouldn't usually accept it from anyone not related to me.

So if this could be possible it would make at least that part a whole lot easier.

Many thanks

ACG

If you go via a broker, they can normally get an agreement from an underwriter to make an exception on something like this. The rule around gifts from family is to prevent someone buying a house for £190k and saying it is really worth £200k and not putting anything in.

Yours is one of those quirky ones but I would be pretty confident there will be a way.

geebee8

That's reassuring. I will look into seeing a broker as soon as possible and fingers crossed something can be done.

Thanks very much for your help.