Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • ajbrynoffa
    • By ajbrynoffa 5th Feb 18, 3:49 PM
    • 413Posts
    • 50Thanks
    ajbrynoffa
    Getting Out of Mortgage?
    • #1
    • 5th Feb 18, 3:49 PM
    Getting Out of Mortgage? 5th Feb 18 at 3:49 PM
    Split with my wife 10 years ago,she agreed shed take me off our joint mortgage asap.However 10 years on and im still on there.
    Spoke to the Chelsea building society about a transfer of equity but my ex has to initiate that and she wont do it...just being awkward.
    She has been on interest only for the whole 10 years and the mortgage has 9 years to run with 72k owing.
    I would have gone to court to force sale but my 2 teenage kids live there with her and I dont want to turf them out as it were.
    Im now in the position i`d like to buy another property with my current wife but the other mortgage is proving to be the stumbling block.
    Any Ideas?
    A shadowy flight into the dangerous world of a man who does not exist.

    A young loner on a crusade to champion the cause of the innocent,
    the helpless, the powerless, in a world of criminals who operate above the law.
Page 1
    • ACG
    • By ACG 5th Feb 18, 3:59 PM
    • 16,720 Posts
    • 8,688 Thanks
    ACG
    • #2
    • 5th Feb 18, 3:59 PM
    • #2
    • 5th Feb 18, 3:59 PM
    Speak to a solicitor.
    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 Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • enjoyyourshoes
    • By enjoyyourshoes 5th Feb 18, 4:08 PM
    • 1,047 Posts
    • 1,281 Thanks
    enjoyyourshoes
    • #3
    • 5th Feb 18, 4:08 PM
    • #3
    • 5th Feb 18, 4:08 PM
    Do whatever you can to get off the mortgage asap.
    Debt is a symptom, solve the problem.
    • sammyjammy
    • By sammyjammy 5th Feb 18, 4:20 PM
    • 4,281 Posts
    • 4,632 Thanks
    sammyjammy
    • #4
    • 5th Feb 18, 4:20 PM
    • #4
    • 5th Feb 18, 4:20 PM
    If she is paying the mortgage and your teenagers are dependants then I would say you have a cat in hells chance of forcing her to sell up, maybe she can't afford to take you off the mortgage?
    "You've been reading SOS when it's just your clock reading 5:05 "
    • pennystretcher
    • By pennystretcher 5th Feb 18, 4:49 PM
    • 384 Posts
    • 1,446 Thanks
    pennystretcher
    • #5
    • 5th Feb 18, 4:49 PM
    • #5
    • 5th Feb 18, 4:49 PM
    How did you split the remaining balance of the first mortgage when you got divorced? You'll be still liable for it if your name is against it - have you checked that your ex-wife has money to pay it off at the end of term?

    If I was you I'd get your name removed from it ASAP - forcing the sale if necessary.
    Mortgage free
    • ajbrynoffa
    • By ajbrynoffa 5th Feb 18, 6:57 PM
    • 413 Posts
    • 50 Thanks
    ajbrynoffa
    • #6
    • 5th Feb 18, 6:57 PM
    • #6
    • 5th Feb 18, 6:57 PM
    If she is paying the mortgage and your teenagers are dependants then I would say you have a cat in hells chance of forcing her to sell up, maybe she can't afford to take you off the mortgage?
    Originally posted by sammyjammy
    She has paid the interest only for 10 years which is 363 a month. She has also had a bloke living with her for 9 years with a very good income. My 2 sons and stepson all live with her and give her a combined total of 480 per month in "keep". Shes quids in ,believe me !
    A shadowy flight into the dangerous world of a man who does not exist.

    A young loner on a crusade to champion the cause of the innocent,
    the helpless, the powerless, in a world of criminals who operate above the law.
    • ajbrynoffa
    • By ajbrynoffa 5th Feb 18, 7:00 PM
    • 413 Posts
    • 50 Thanks
    ajbrynoffa
    • #7
    • 5th Feb 18, 7:00 PM
    • #7
    • 5th Feb 18, 7:00 PM
    How did you split the remaining balance of the first mortgage when you got divorced? You'll be still liable for it if your name is against it - have you checked that your ex-wife has money to pay it off at the end of term?

    If I was you I'd get your name removed from it ASAP - forcing the sale if necessary.
    Originally posted by pennystretcher
    She certainly wont be able to pay it off at the end of the term.When we split I said I didnt want anything from the house and left it to hjer and the children on the proviso that she would remove my name from the mortgage as soon as possible or at the most when the children reached 18 which they did last year.This was documented in the divorce proceedings.
    A shadowy flight into the dangerous world of a man who does not exist.

    A young loner on a crusade to champion the cause of the innocent,
    the helpless, the powerless, in a world of criminals who operate above the law.
    • pennystretcher
    • By pennystretcher 6th Feb 18, 12:09 AM
    • 384 Posts
    • 1,446 Thanks
    pennystretcher
    • #8
    • 6th Feb 18, 12:09 AM
    • #8
    • 6th Feb 18, 12:09 AM
    So if she packs her bags and moves somewhere else with her new partner you are left to deal with the house...time to call your solicitor I think..

    I bought my house from a couple who were not in speaking terms and their first couple of offers from other buyers fell through as they broke the chain due to delays..worked well for me tho! Selling a house if you can't get hold of your ex is near impossible..both mortgage holders have to sign the papers. I can see so many possible pitfalls in your current situation...
    Mortgage free
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

103Posts Today

1,382Users online

Martin's Twitter