stuck in an interest only mortgage with a ex partner

Grace19

Hi I am desperately trying to find a solution to my on going problem... so in approx 2006 I took out an interest only mortgage on a share ownerahip property with an ex who never really paid anyway, but has not paid a penny towards this for well over 10 years. He is still fully named on mortgage without having to pay a penny back!!! In those years I have struggled to keep payments, but did and also got Iva, which completed in dec 2016. Do you have any advise as I have also had a baby in the last 2 years and suffered health problem so only work part time, I have also spent any saving when I was off on maternity?! Anyone help with how I can get my ex off the mortgage and just in my name and Halifax can not help with this??

Browntoa

You need your ex to sign it over to you AND for you to be able to get a mortgage in your own right (which from your post is unlikely)

getmore4less

If you can't convince the lender you can afford it then selling is the option.

How much is it worth
How much is the mortgage(size &rate)
How much would rent be for somewhere to live.
Any space for a lodger?

ACG

Chances are halifax will not allow you to take the ex off even if the ex agrees to it. You have only been discharged for 2 years, Halifax need 6 years discharged.

If there is plenty of equity in the house the ex could be entitled to some of it. On the flip side, plenty of equity might mean there are lenders who will accept you (although I would visit it with a broker once you have 3 years discharged).

If there is not much equity then you might struggle to do anything other than keep it as it is.