Mortgage extension

oberonrcb

I’m now divorced,my ex got the house as part of the settlement.the mortgage co won’t release me from the joint mortgage. The ex is responsible for the mortgage. As part of the settlement she received £15k cash. Despite a court agreement to maintain the mortgage she has contacted the mortgage co and they have agreed to reduced payments a month later. I’ve contacted the mortgage co and the state they don’t need a joint signatory approval for this?
on a 2nd point there’s only 5 years left on the mortgage agreement.can I block any extension to the term and force a sale? There’s no children involved..

Hoenir

What's the agreement when the mortgage comes to the end of it's term in 5 years time? 

PixelPound

Surely reducing the payments is effectively extending the term already?

Hoenir

nic_c said:

Surely reducing the payments is effectively extending the term already?

Be a temporary holiday and arrears will accumulate. Term is fixed. 

housebuyer143

Was this not covered in the settlement? You can't come off until she can afford a mortgage on her own and takes you off, or it's sold. Is this the plan when the fixed term is up? Can she afford the mortgage on her own? If not, you will be trapped in this mortgage essentially until the end of the mortgage term and it will hinder you when you buy again. You can definitely refuse to go on a new mortgage once the term ends and then it will have to be sold.

It seems odd that she can just arrange lower payments without your input as you are joint on the mortgage and these things can have a red mark against you for when you take out a new mortgage. They definitely shouldn't and it wouldn't be a missed payment on credit file,  but I remember in COVID, dozens of lenders refused to lend to anyone who has taken a payment holiday during that period.