Split from wife and mortgage being renewed

m0bov

Hi. I have decided to split from my wife of 6 years. We brought a house 2 years ago. She is on the mortgage. The two year deal runs out in march and the new deal with another lender kicks in.

Should I put that on hold? Will it make it more difficult to remove her from the mortgage if it's renewed?

Thanks.

dawyldthing

It isn’t a case of just removing her from the mortgage. I guess she’s been paying half so you’ll have to buy her out and also earn enough to take over the whole mortgage (esp if it took both your incomes to get it and you wouldn’t get it on one income). Or sell up and split the profits

Pollycat

A very good friend of mine's husband left her for another woman.
She was paying the mortgage in full.
The mortgage company would not take his name off the mortgage - they have 2 people to go after if the payments aren't paid.
She couldn't renegotiate a better deal because he wouldn't agree.
She couldn't afford to buy him out.

HampshireH

If you choose not to remortgage and it has taken her income into consideration you may not get the same offer if you don't do it together

dawyldthing

Pollycat wrote: »

A very good friend of mine's husband left her for another woman.
She was paying the mortgage in full.
The mortgage company would not take his name off the mortgage - they have 2 people to go after if the payments aren't paid.
She couldn't renegotiate a better deal because he wouldn't agree.
She couldn't afford to buy him out.

Plus when it comes to selling unless papaerwork is in place he will still get half