Joint mortgage: What is my legal position now?

madachab

Hi

I don't know if I'm on the right board here, so please do let me know if I should post elsewhere.

Approximately 18 months ago, I split up with my girlfriend of 13 years. We have a joint mortgage (currently £222,500 with not much equity in the property due to remortgage 2 years ago). As I moved out of the house into rented accomodation, I no longer pay towards the mortgage, but I know that she is keeping up the payments ok. The split was not particularly amicable, so communications were (and still are) a little hostile.

I really want to try and pick myself up again financially, so I want to know how to go about removing myself from this mortgage. My ex says that there is no way she wants to sell the house, and also that she has taken legal advice and been informed that there is no way I can force her to sell the house. So this is my first question, is she correct in saying that I cannot force a sale? I am asking here first before spending money I don't have on legal fees...as due to a dip in my self emloyed working hours for 6 months last year, I also now find myself with £-27,500 of credit card debt and not able to switch to low interest cards due to a less than perfect credit rating.

We also have a join bank account with Halifax, which appears to be overdrawn (according to data from CheckMyFile.com). Do I need to go through a legal process to get my name removed from this also?

I'd really like to get going somehow, but don't really know where to turn without incurring too many legal fees as mentioned above. Any advice would be gratefully received.

Thanks for listening/looking.

therealdelboy

Hi madachab

Your first point of call is the Citizens Advice Bureau for more general advice. Most solicitors will do your initial consultation free, so it is worth speaking to a few of them to see which one suits you.

As for the advice which your ex-partner has taken, I think its flawed, as you have a clear legal right to sell up the property to get your funds out unless there are mitigating factors, such as a child or other dependent living there.

One question: did you buy the house as joint tennants or tenants in common ?

UK007BullDog

Just adding on from what the realdelboy posted.

Firstly go to the debt wannabe board as people there will be able to help you better than here on the mortgage board.

Now, you need to work out how much money you put down to buy the property. Depending on how you guys bought for and depending on your deposit, 50% of the property might be yours. So you might be able to force a sale but you need to be secure in the knowledge that selling costs money and you might turn out to be out of pocket.

If you have not paid towards the property then you can remove yourself from the deeds. The bank will have to agree to it though. Even if she manages to pay the mortgage, the bank might conclude that her affordability is not there, so they might not agree.

You should also get legal advice and go to CAB to get advice.

As for your other debts pay them off, stay in rented and repair your credit file. Go to the bank and ask how or if you can be removed from the joint account. Usually when its overdrawn you cannot close it or remove yourself from it but why dont you ask that question in the accounts section of the forums.

Tell us the property value, realistic value, the mortgage amount and how much you both put down as a deposit and also tell us how much each of you paid towards the mortgage.

madachab

Thanks for the replies.

This sounds awful even to me now, but as my ex was an accountant, I left almost all of the mortgage matters in her hands, I pretty much just signed on the dotted line...a lesson learned!!! So with regard to Joint Tennants or Tennants in Common, I really don't know. I guess the mortgage company will be able to tell me?

I'm fairly certain that as my ex put up a larger share of the deposit, we have a 60/40 split in her favour. I seem to recall our financial advisor saying that neither of us were in a position to take out such a mortgage on our own, so I assume that the mortgage company are not going to entertain the idea of my taking me off the deeds and allowing her to take over the mortgage - especially in the current financial climate.

I'm also certain that there was a (redemption fee?) for changing the mortgage before 2009. When I moved out, I got some valuations on the house and they fell between £229,000 and £270,000. So there may be some equity in the house, but I don't know how well it would sell at the moment even if I could make it happen.

In terms of specific figures, on a monthly figure on £950, I put in £450 and my ex put in the rest. The mortgage currently stands at £222,592.

I will take on board your advice about the CAB, and also the initial free consultation.

Thanks again.