New mortgage deal agreed for ex wife on joint mortgage without my signature

scottydog139

My Mortgage company have allowed my ex wife a new deal on a mortgage without my authority. i have put in a complain and taken it to financial ombudsman.  Financial ombudsman cannot take a complaint on, unless there are 2 people on the joint mortgage complain, which is ironically what complaint is about. This new deal has had an impact that i cannot get a new mortgage to move to a new home, as my ex is not paying that mortgage, as she was not paying other mortgage before.  Any advise?

kingstreet

I can't see what difference it makes. If she isn't paying it, you are being affected by the arrears not the mortgage product. If the thread title was "Ex not paying mortgage so I can't buy" it would be more accurate but unfortunately just as insoluble. Depending on what was agreed previously (keeping a roof over your kids' heads or similar), your only option would be legal proceedings to attempt to force a sale.

sal_III

What was the response from the Lender? 

I fail to realise how getting a new fixed term on the existing mortgage would prevent you from getting another mortgage on by itself, unless you had a plan to redeem the mortgage and the new term will cause you to incur ERC

scottydog139

sal_III said:

What was the response from the Lender? 

I fail to realise how getting a new fixed term on the existing mortgage would prevent you from getting another mortgage on by itself, unless you had a plan to redeem the mortgage and the new term will cause you to incur ERC

It has affected my credit rating to make it poor, as i have signed the house over to her, but she has not been paying it, court order states i do not have to pay mortgage and she is to release me from mortgage at first opportunity. i have received 19 letters of shortfalls. i have asked bank to release me from mortgage, if they can accept  a new Joint deal, without my authority... They told me that she would need to sign to remove me from mortgage, they would need 2 signatures.   Ironically not 2 signatures for a joint mortgage though

Thrugelmir

Not a new mortgage. It's a new product. 
If your ex is struggling to pay the mortgage. Then unlikely she'll be in a position to obtain a mortgage in her own right anytime soon. 
What was the agreement when you divorced? 

scottydog139

She shouldn't be. Goverment pay interest on mortgage. My payments more than covers rest of the repayment mortgage. I had it put in settlement I will agree for it to be converted to mortgage only. Her benefits she gets are amazing. Nearly doubles my income and she has two other fully grown adults ,who work, living with her. This agreement was part of divorce.

Whats_your_forte

I don't understand the issue.

A new product makes the mortgage more affordable and is only a positive rather than a negative. Even if your ex could get you off the mortgage, she could do so with her lender, keep the deal and again have no detrimental effect on you. 
If your payments are going direct to the mortgage, then again this has no impact on you as only the interest only element has changed.

Also, if the government is paying interest and you are paying the capital element, how on earth is this in arrears and bringing down your credit file. 

You need a chat to your lender to see how they are reporting this mortgage to credit reference agencies as a lot of mis-information here and doesn't sound right to me

ACG

Im confused, I could understand your anger in theory. But in this situation, I do not understand how you are any worse off.
The payments were not being made properly and they are still not being paid properly, you are no worse off. 
You have signed the house over, so even if the ERCs kick in on repossession, you are no worse off. 
The higher interest rate could have resulted in the house being repossessed sooner and freeing you of the financial tie - but if the government are paying the interest (that is actually a loan btw), then you are still no worse off. 

I dont understand how you are affected by the change. Sorry if I am missing something? 

[Deleted User]

You can still be removed from the mortgage mid product. The lender would agree that she can afford to take it in her name and a solicitor would deal with the paperwork. 

Changing interest rate on the mortgage doesn't alter her ability to remove you (or not) from the mortgage 

DCFC79

scottydog139 said:

sal_III said:

What was the response from the Lender? 

I fail to realise how getting a new fixed term on the existing mortgage would prevent you from getting another mortgage on by itself, unless you had a plan to redeem the mortgage and the new term will cause you to incur ERC

It has affected my credit rating to make it poor, as i have signed the house over to her, but she has not been paying it, court order states i do not have to pay mortgage and she is to release me from mortgage at first opportunity. i have received 19 letters of shortfalls. i have asked bank to release me from mortgage, if they can accept  a new Joint deal, without my authority... They told me that she would need to sign to remove me from mortgage, they would need 2 signatures.   Ironically not 2 signatures for a joint mortgage though

Its affected your credit histlry not your score, your histpry is what lenders see.

Thrugelmir

scottydog139 said:

sal_III said:

What was the response from the Lender? 

I fail to realise how getting a new fixed term on the existing mortgage would prevent you from getting another mortgage on by itself, unless you had a plan to redeem the mortgage and the new term will cause you to incur ERC

It has affected my credit rating to make it poor, as i have signed the house over to her, but she has not been paying it, court order states i do not have to pay mortgage and she is to release me from mortgage at first opportunity.

While you do not have to pay the mortgage. You are still liable for the mortgage should your ex default. Whatever you agreed when you divorced does not change the contractual position between you and the lender. 

Can I ask whether there were any children living in the house when you divorced?