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Removing Ex from mortgage

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24

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  • Mancgirl
    Mancgirl Posts: 9 Forumite
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    I gave him his deposit back which was £6500 and from what I understand, by doing a transfer of equity through the solicitor, he is not entitled to any profit I make from the house
  • G_M
    G_M Posts: 51,977 Forumite
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    Mancgirl wrote: »
    I gave him his deposit back which was £6500 and from what I understand, by doing a transfer of equity through the solicitor, he is not entitled to any profit I make from the house
    Well that really depends on the terms of the agreement made.Did he not contribute to the mortgage payments too? For how long?

    But I suspect you are right if he agreed (fool!) to give up ownership. I also suspect that he did this, whilst agreeing to remain on the mortgage, to help you. perhaps knowing that without his joint name on the mortgage you'd be unable to take it over so would have to sell.

    He sounds like he's been very generous. Now he wats tomove on with his life, perhaps applying for a mortgage of his own, you should facilitate that.

    Talk to the mortgage lender and see if they'll agree to you/partner taking over the mortgage.

    failing that, sell and find somewhere you can both afford.
  • jessex1990
    jessex1990 Posts: 137 Forumite
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    If you have bought him out he should have been discharged from the mortgage? Shouldn't he?
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    jessex1990 wrote: »
    If you have bought him out he should have been discharged from the mortgage? Shouldn't he?

    Nope, it's not mandatory. Unusual, but mentioned in these forums before.
  • Guest101
    Guest101 Posts: 15,764 Forumite
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    Mancgirl wrote: »
    I gave him his deposit back which was £6500 and from what I understand, by doing a transfer of equity through the solicitor, he is not entitled to any profit I make from the house



    You keep talking as if you did stuff to him, not with him.


    Was he involved in this process. Did he have legal counsel?


    I suspect that what you have is not actually binding on him. But that may be just the way you've written it
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    Mancgirl wrote: »
    I gave him his deposit back which was £6500 and from what I understand, by doing a transfer of equity through the solicitor, he is not entitled to any profit I make from the house

    You have failed to keep your side of the agreement though. As you have left him exposed with a mortgage liability. Would selling the property enable you to clear your debts and start afresh. In the process remove your ex from the picture.
  • Mancgirl
    Mancgirl Posts: 9 Forumite
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    How have i 'failed' ? It's not a liability. I've never missed a payment and so it doesn't affect him. Why can he not get another mortgage? People have more than one mortgage?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    Mancgirl wrote: »
    How have i 'failed' ? It's not a liability. I've never missed a payment and so it doesn't affect him. Why can he not get another mortgage? People have more than one mortgage?

    Fact. The mortgage is a liability as far your ex is concerned. This will impact his ability to obtain finance and may well stop him from obtaining a sufficiently sized mortgage. As some years have passed. One assumes that his patience is now wearing out. Onus is on you to find a solution.
  • Mancgirl
    Mancgirl Posts: 9 Forumite
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    Why is the onus on me? It is a joint mortgage, one that we both signed for. He decided to leave and agreed that I should stay in the house. Now he wants out and now it's my problem?? How does that work
  • Mancgirl
    Mancgirl Posts: 9 Forumite
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    I didn't do stuff TO him. It was mutually agreed that that was the best situation. I needed to stay in the house as I had nowhere else to go and he decided to leave and he did have somewhere else to go. Now years have passed and he wants out but it isn't that easy unfortunately.
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