Ending Joint Mortgage Unilaterally

2520years

Basically, my question is: Is there any way to end a joint mortgage without the other party's cooperation?

More details...
I live in a property with a joint, buy-to-let, interest only mortgage. It was the only choice I had when my wife and I separated, so I know it's not ideal to be living in a property with a buy-to-let mortgage. I've been paying the mortgage myself for a few years now.

I want to be rid of the joint mortgage by either buying the house in my own right or selling it.

Here's the 'but'...the mortgage is joint with my ex-wife who, as a matter of principle, will make things as awkward as possible.

I don't know if the mortgage provider will help me out somehow, as I'm not supposed to be here anyway. Is there any way to end the mortgage without my ex-wife's cooperation?

diggingdude

suggest to ex partner you are going to default on payments and ruin both credit files? Is partner paying their share of mortgage?

2520years

She hasn't paid a penny since I moved here - which is fine by me, as I've lived here.

She's supposedly saving for a deposit herself, so I think your suggestion might work. However, I don't really want to go down that route.

Thrugelmir

Are you going through divorce proceedings? Have you agreed on a division of financial assets?

2520years

We are divorced already.

Thrugelmir

Financial consent order drafted? This will have dealt with jointly owned assets.

2520years

I’ve just googled it. No financial consent order.

Thrugelmir

Seek legal advice asap. Then you'll be able to move on with your life.

[Deleted User]

You really need to get a financial consent order sorted. You can't unilaterally decide to end joint ownership of a property. You will need your ex wife's cooperation because if you can't get it then you'll need to go to court to force the sale even if the intention is for you to be the buyer. Your ex wife will be legally entitled to some of the equity.

2520years

Thanks guys.

I always imagine going to court is the privilege of the wealthy. I’m not sure I can afford it, but I might find someone who offers a free consultation. I’ll ring the mortgage provider too, just in case they can help in any way.

Cheers!

silvercar

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I’ll ring the mortgage provider too, just in case they can help in any way.

Think carefully on that one. Once you tell the mortgage lender you are living in the property, they could tell you that is a breach of the BTL terms and demand that either you move out or they call in the mortgage. What will your response be?

If they suggest converting it to a residential mortgage will your ex co-operate?