Taking my name off joint mortgage

GarfieldEatsLasgne

Afternoon all, just after some advice and to learn a little. Here's my scenario...

I bought a house nearly 15 years ago now with my ex partner on a joint mortgage. The relationship broke down and I moved out. My name is still on the mortgage however she makes the full monthly payments, but I do send a monthly amount to her as maintenance as we have a child together. Over the past 10 years I have been asking her on and off to have my name taken off the mortgage, I believe she has tried once or twice but she has been told she needs a guarantor. Nowadays she just fobs me off with excuses. As far as I'm aware I am completely powerless to do anything as she needs to instigate the changes.

Where would I stand on this, I've not minded too much so far as my daughter is living there, but she is getting older now and may move out in a few years time, I'm married now and we would not be happy putting our credit file at risk to provide a house for my ex and her partner.

Also, though I'm not asking for any money, I just want my name off, would I still technically be entitled to half of any funds from selling the house (despite not making payments the last 10 or so years)? Telling her this may make her more motivated to get this sorted.

Thanks in advance for any advice.

dunstonh

I believe she has tried once or twice but she has been told she needs a guarantor. Nowadays she just fobs me off with excuses. As far as I'm aware I am completely powerless to do anything as she needs to instigate the changes.

It sounds like she cannot afford to buy you out.

Where would I stand on this, I've not minded too much so far as my daughter is living there, but she is getting older now and may move out in a few years time, I'm married now and we would not be happy putting our credit file at risk to provide a house for my ex and her partner.

It's time to negotiate an exit. It may need to legal but that would be expensive for both of you.  And with a child, you will likely suffer financially.

Also, though I'm not asking for any money, I just want my name off, would I still technically be entitled to half of any funds from selling the house (despite not making payments the last 10 or so years)? Telling her this may make her more motivated to get this sorted.

Whilst you own the property jointly, the mortgage needs to be joint.   If you want to come off the mortgage, you will need to come off the deeds too.   However, no matter what you want, if she cannot afford a mortgage in her sole name, then there is nothing you can do about it without legal action (which may not go in your favour) or if she agrees to sell up.

GarfieldEatsLasgne

Thanks for the reply. Yes I think on paper she cannot pass the affordability checks. She has however been able to make all of the payments over the last 10 years. But to do anything she would need the guarantor. 

So I guess guess given the costs and risks of litigation, as you say, there is nothing at all I can do. 

ACG

Who is her lender? 
I did a mortgage for a couple with Skipton bs a few years back. They split up and she could evidence she had been making the payments on her own for at least 6 months. Skipton allowed her to put the mortgage solely in her name, she had to pass the credit check but the affordability check skipton were able to take a view on. 

Thrugelmir

How old is your daughter? 

tightauldgit

GarfieldEatsLasgne said:

Thanks for the reply. Yes I think on paper she cannot pass the affordability checks. She has however been able to make all of the payments over the last 10 years. But to do anything she would need the guarantor. 

So I guess guess given the costs and risks of litigation, as you say, there is nothing at all I can do. 

If she can't pass the affordability checks and won't be able to get a mortgage in her sole name then your option would only be to try to force a sale through the court to pay off the mortgage. 

Ownership and mortgage is not necessarily the same thing though so even if she got a mortgage in her sole name it wouldn't mean that you didn't have a claim on your share of the equity in the house. Equally she could buy you out of your share of the equity while still having the mortgage in joint names. 

If you aren't willing to pursue forcing a sale then the best you would get from a court would be an order to make best endeavours to release you from the mortgage - which if she is financially unable to do without selling the house isn't really going to help you much. 

I suppose the question is whether you are happy to just allow the status quo to persist until the mortgage is paid off presumably in 10 years or so?  

GarfieldEatsLasgne

ACG said:

Who is her lender? 
I did a mortgage for a couple with Skipton bs a few years back. They split up and she could evidence she had been making the payments on her own for at least 6 months. Skipton allowed her to put the mortgage solely in her name, she had to pass the credit check but the affordability check skipton were able to take a view on. 

Thanks for the reply, the lender is NatWest. She spoke to them they advised her only option with them was to provide a guarantor. Perhaps I could advise her to try a different lender. 

GarfieldEatsLasgne

Thanks tightauldgit, like I say I wouldn't take any legal action whilst my daughter is there, but if she moves out that's a different story. It was quite a term, 35 years I think so potentially another 20 years left on it. Like I say I've no interest in getting any money out of it, the ideal is to solve it amicably but she seems to lack any motivation to sort things out. She does have people she could ask to be guarantor so could solve this issue. It's just a shame there is little I can do my end, but perhaps the court option would be best if nothing is done.

Thanks again for the advice, it's helpful.

tightauldgit

GarfieldEatsLasgne said:

Thanks tightauldgit, like I say I wouldn't take any legal action whilst my daughter is there, but if she moves out that's a different story. It was quite a term, 35 years I think so potentially another 20 years left on it. Like I say I've no interest in getting any money out of it, the ideal is to solve it amicably but she seems to lack any motivation to sort things out. She does have people she could ask to be guarantor so could solve this issue. It's just a shame there is little I can do my end, but perhaps the court option would be best if nothing is done.

Thanks again for the advice, it's helpful.

I've been on the other side of it with my ex trying to get me to take the mortgage in my sole name but me not meeting the affordability criteria. I agreed 'best endeavours' with the court and bought out her equity so she no longer owns the property but she remains on the mortgage as I haven't been able to re-mortgage. Guarantors were suggested to me also but I wasn't prepared to do that, and at the end of the day you can't force anyone to act as a guarantor on someone else's mortgage so all she would have to say to a court is that she doesn't have anyone prepared to act as a guarantor on her behalf. 

If the shoe was on the other foot I don't think I would be happy with sitting on a mortgage for potentially 20 years for a house my ex partner was living in. I guess the compromise might be to tell your ex that you are only prepared to allow this to continue until daughter turns 18 and at that point if you aren't taken off the mortgage then you would request a court order to force a sale. 

If you haven't already gotten something then it might be worth getting a court order to the effect of something above - that she would make best endeavours to get you taken off the mortgage for now and then when daughter turns 18 if she still hasn't done so the property would be put up for sale?  

tightauldgit

Just a further thought but I wonder if you could get a court order to agree an equity split on the property with an agreement that you would waive your share of the equity if you are removed from the mortgage within a short time period? If you are fairly sure that she has options to agree a mortgage but is just being lazy that might light a fire under her to get cracking on it. On the other hand if she genuinely isn't able to remortgage then it might just cause more problems.  

GarfieldEatsLasgne

That's good advice. I will mention this to her and see if it inspires action. The only thing putting me off the court orders would be the cost. But like you say 20 years of worrying about her missing a payment and having bailiffs knocking at my door isn't really on.

I agree I, nor she, could force anybody to act as the guarantor but she had mentioned somebody was willing, but then nothing ever came of it.