Removing Ex From Mortgage

jsymms

Hi,

I have a bit of a messy situation. My ex partner and I bought a home in 2009. We split up in 2011, and I stayed in the property. I've paid the mortgage solely the entire time. Over the past six years I've been trying to remove her from the mortgage, but due to debt incurred during the relationship, I haven't passed the affordability process. I have just finished an IVA and have an appointment soon with my lender (Halifax) to try and see if I'd be able to be on the mortgage alone. I've done a bit of reading and haven't found the exact info I need in regard to release of equity/ buying her off. If I had to buy her off the mortgage, I wouldn't be able to afford to do so. Is there any scenario where I wouldn't have to buy her out of the mortgage, since I've been paying it myself the entirety of the time we've owned it, beside her signing away her rights to equity? We aren't on amicable speaking terms. A few years back she did send a solicitor letter to try and scare me into selling even though I informed her of my financial situation and my inability to remove her from the mortgage. We were never married nor in a civil partnership, we have two children together, and I pay child maintenance. Likewise, we have both moved on to new partners (just giving a bit of background in case it may be relevant).

Any advice would be greatly appreciated.

Caz3121

is the property owned as joint tenants or tenants in common? 
what was agreed 10 years ago regarding future equity?

MWT

How was the original deposit funded and how much was it?

50/50 or did you cover all of that as well?

jsymms

The property is owned as Joint Tenants. The deposit was paid for by me as well.

jsymms

There wasn't a discussion regarding future equity when we purchased the property.

MWT

See what others have to say, but I don't think there is going to be a cheap route to get her off the deeds, even if you could afford to get the mortgage...

On your side is the fact that you have paid the entire cost of the mortgage and the deposit, but on her side she has to be due something for being forced to remain on the mortgage all this time which will have made it hard for her to get a mortgage of her own.

If she was being reasonable you'd hope that giving her a little cash for the inconvenience and removing her liability for the mortgage would be a deal you could do, but if she is not talking then you are into legal action and that is going to cost...

When she sent the solicitor's letter a few years ago, what was she asking for?

jsymms

That's what I'm afraid of, that this is going to be a long and pricey battle. When she sent that solicitors' letter, she wanted me to sell the house to remove her name from the property. If I had sold it within the timeframe she required, she said she wouldn't want anything from the proceeds but because for obvious reason I wasn't willing to sale the house I live in and is the only affordable option I have, she then said that she would now want half of the proceeds from the sale and also for me to cover her solicitors fees.

If I could, I'd happily of paid her off years ago, but I'm not in the financial situation to be able to afford to do so. The debt that I currently just finished dealing with made it impossible to pass the Bank's affordability check.

MWT

Well, it is good news that her opening position was zero payment, with the 50% as the 'threat'.

I'd say that gives you the option to go back to her with the original zero payment and get her released if you can get the mortgage.

Solicitors time for the transfer of equity would be a low figure so could cover reasonable costs for that if you had to.