We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Help Needed Please...
relmore
Posts: 4 Newbie
Hi to everyone reading this...
To a cut a long story short my fiance left me just before Christmas and i desperately want to keep my house. I have a mortgage with Northern Rock and we had a loan on top of our mortgage of 30k. I want to keep my house and it has been agreed that my ex will make the payments on the loan so that i will just pay the mortgage payments.
Is it as simple as my name going off the loan and his name off the mortgage? Is this possible? Would i need to get a guarantor on the mortgage?
I really someone can help me and offer advice.
Look forward to hearing from you soon
Rachel
To a cut a long story short my fiance left me just before Christmas and i desperately want to keep my house. I have a mortgage with Northern Rock and we had a loan on top of our mortgage of 30k. I want to keep my house and it has been agreed that my ex will make the payments on the loan so that i will just pay the mortgage payments.
Is it as simple as my name going off the loan and his name off the mortgage? Is this possible? Would i need to get a guarantor on the mortgage?
I really someone can help me and offer advice.
Look forward to hearing from you soon
Rachel
0
Comments
-
we would need to know how much the mortgage is and how much you earn before we could offer any advice. The lender will want to be sure you can afford the repayments. Have you got any redemption on your current deal?I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, So you need to take my word for it. This signature is here as i follow MSE's mortgage advisers code of conduct. Any posts on here are for information and discussion purpose only and shouldn't be seen as financial advice.0 -
Hi
At the end of Dec 07 outstanding balance on mortgage was £121,790.00 and £29,584.00... I currently earn £18,500
I know i can afford mortgage payment of £700 each month as i just want to keep my house.
Hope this helps
Rachel0 -
the problem is this is over 6and a half times your earning. The other problem is your with northen rock and there not in the market for borrowing. they would much rather people pay off their mortgages so they can pay their debts back to gordon brown!! I think it can be done but you will need to switch lenders, this could cost you redeption costs.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, So you need to take my word for it. This signature is here as i follow MSE's mortgage advisers code of conduct. Any posts on here are for information and discussion purpose only and shouldn't be seen as financial advice.0 -
Thank you - i think i need to contact NR and see what they have to say
Rachel0 -
I would look at other options first. least that way you have all the information first, IM me if you want me to have a look for you.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, So you need to take my word for it. This signature is here as i follow MSE's mortgage advisers code of conduct. Any posts on here are for information and discussion purpose only and shouldn't be seen as financial advice.0 -
hello - could you perhaps have a look for me please? may put my mind at ease. Thanks0
-
ok, will need you date of birth, income and a list of any unsecured debt (credit cards etc) IM it to me if you dont want to post it on here. Plus the value of your house.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, So you need to take my word for it. This signature is here as i follow MSE's mortgage advisers code of conduct. Any posts on here are for information and discussion purpose only and shouldn't be seen as financial advice.0 -
It is extremely likely that you would be better off selling and renting. Your ex-partner will be very lucky if his name is removed from the mortgage.
Do not be over attached to the house. It is a pile of bricks.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
Gorgeous_George wrote: »It is extremely likely that you would be better off selling and renting. Your ex-partner will be very lucky if his name is removed from the mortgage.
Do not be over attached to the house. It is a pile of bricks.
GG
...and one with a lot of debt attached to it compared to your income.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards