Mortgage with current arrears

enthusiasticsaver

I saw this often as a mortgage arrears counsellor and unfortunately you are unlikely to get a good rate or any mortgage at all with arrears on a mortgage. Mortgages are jointly liable so even if you do not live there you are still responsible for paying it. 

Who is living in the property? 

GlitteringGold

Thank you. 

I understand I am jointly and severally liable even though I don’t live there. There are TOLATA proceedings in progress and I’ve taken advice from a mortgage broker who has said there’s no hope. My ex has been increasingly abusive since I started legal action so I wanted to check (again) that there’s no way he can retain the property by remortgaging. I’m working a little bit blind as he won’t tell me anything, but I appreciate the advice given here. 

Thrugelmir

Neither of you can do anything with the property without the others permission. Legal documents require both your signatures. In one way or another a compromise will eventually be struck. Stick with it, you will get there. As stressful as it must be. 

GlitteringGold

haras_n0sirrah said:

Just looking at our criteria guides even the 11% lenders are saying no more than 2 missed mortgage payments in the last 12 months.

Thank you Haras, does this mean an 11% interest rate, or 11% LTV, or something else? 

haras_n0sirrah

11% interest rate