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  • FIRST POST
    • dibblethetiler
    • By dibblethetiler 6th Feb 18, 11:56 PM
    • 3Posts
    • 0Thanks
    dibblethetiler
    ex wont release me from mortgage
    • #1
    • 6th Feb 18, 11:56 PM
    ex wont release me from mortgage 6th Feb 18 at 11:56 PM
    Hi people,
    I'm in need of advice.....
    I separated from my wife, 4 years ago. We have a joint mortgage, and I live currently with Parents, while she lives in our house with our 3 kids.
    I need to provide a home for when I have the children, but she's playing hard ball, and not letting me move on.
    I'm now thinking about forcing a house sell to release funds...
    Any thoughts?...
Page 2
    • jimbo747
    • By jimbo747 9th Feb 18, 11:39 AM
    • 483 Posts
    • 1,290 Thanks
    jimbo747
    Yeah I'd move back in, Walter White style.
    • pigpen
    • By pigpen 9th Feb 18, 1:22 PM
    • 36,748 Posts
    • 473,038 Thanks
    pigpen
    You could sign the deeds of the house over to her in lieu of child support.. so for example.. 10k equity in the house.. you are entitled to 50% so 5k.. BUT.. you pay 500 a month child support.. you could agree to not pay the child support for 10 months in stead of getting your 50% share of the equity but the house then becomes hers.

    This does not get you off the mortgage but it does enable you to get another mortgage in your name.

    This CAN be done, because I have done it.. and my friend, on my example has just completed hers last month to.

    She then gets to stay in the house and you get to move on.

    ETA... AND.. if she can prove she has paid the mortgage without your help for 6 months once you are removed from the deeds she can then POSSIBLY get you removed from the mortgage (my mortgage company are in the process of doing this for me) it is easier if you sign the paperwork and agree to it but if you refuse the mortgage companies legal team can force you off it.. which is what mine are having to do because my ex is a douche.
    Last edited by pigpen; 09-02-2018 at 1:26 PM.
    LB moment 10/06 Debt Free date 6/6/14
    Hope to be debt free until the day I die
    Mortgage-free Wannabee (05/08/30)
    6/6/14 72,454.65 (5.65% int.)
    15/05/2018 53528.71 (2.41% int.)
    • silvercar
    • By silvercar 9th Feb 18, 5:32 PM
    • 37,310 Posts
    • 157,171 Thanks
    silvercar
    You could sign the deeds of the house over to her in lieu of child support.. so for example.. 10k equity in the house.. you are entitled to 50% so 5k.. BUT.. you pay 500 a month child support.. you could agree to not pay the child support for 10 months in stead of getting your 50% share of the equity but the house then becomes hers.

    This does not get you off the mortgage but it does enable you to get another mortgage in your name.

    This CAN be done, because I have done it.. and my friend, on my example has just completed hers last month to.

    She then gets to stay in the house and you get to move on.

    ETA... AND.. if she can prove she has paid the mortgage without your help for 6 months once you are removed from the deeds she can then POSSIBLY get you removed from the mortgage (my mortgage company are in the process of doing this for me) it is easier if you sign the paperwork and agree to it but if you refuse the mortgage companies legal team can force you off it.. which is what mine are having to do because my ex is a douche.
    Originally posted by pigpen
    You can only get a new mortgage if the lender agrees, no guarantees they won't tak into consideration the old mortgage liability.

    I would say the chances of getting someone removed from a mortgage without having the income to justify taking the mortgage alone are slim these days, particularly with the lenders being required by the ombudsman to ensure people can afford their commitment. Possible but unlikely.
    • Kynthia
    • By Kynthia 10th Feb 18, 9:24 AM
    • 5,149 Posts
    • 7,168 Thanks
    Kynthia
    Removing yourself from the deeds but not the mortgage seems a strange action to take. You would still be liable for the mortgage but have no entitlement to any equity or have any say in the property. You would probably lose any right to force a sale through the courts should you ever wish too. Plus the mortgage debt would still reduce your affordability when it comes to buying a new place and how much a new mortgage company would lend you. The only advantage I can see is that it would probably mean you wouldn't pay the higher stamp duty rate.
    Don't listen to me, I'm no expert!
    • waamo
    • By waamo 10th Feb 18, 9:42 AM
    • 3,411 Posts
    • 4,553 Thanks
    waamo
    Have used the services of a solicitor to do basics on financial statements. but because my wife is being difficult, I've been quoted 5500 to proceed with a court hearing.
    Hence the reason for a settlement between us... without costly fees from so called professionals.
    More like robbers, without the masks.
    Originally posted by dibblethetiler
    That might look cheap if you are stuck paying a mortgage for the next 10-15 years.
    This space for hire.
    • dawyldthing
    • By dawyldthing 10th Feb 18, 12:30 PM
    • 2,925 Posts
    • 2,907 Thanks
    dawyldthing
    we've been to the mortgage provider, to ask about her taking the mortgage on. they've said that she's unable to as " the computer says no", although it's clear she can through wages and tax credits, etc. In fact, we both can't afford to pay the mortgage going on their criteria... even thogh we are.
    Originally posted by dibblethetiler
    Then why not let her pay the mortgage. Yeah you won't get the balance to start again but she's housing the kids so it would be the best of both worlds
    My targets to end 2018:
    1) To get down to 11 st 7lbs then treat to a safari. At start 17 stone 7 lbs: *61lbs lost* *30lbs to go*
    1st started SW16st13lbs tues11/7/17 - 38 weeks -53lbs
    2nd sw 14 st 12lbs Fri15/6/18 -> 0 weeks -0lbs
    2) to find new challenges
    • pigpen
    • By pigpen 16th Feb 18, 7:05 PM
    • 36,748 Posts
    • 473,038 Thanks
    pigpen
    You can only get a new mortgage if the lender agrees, no guarantees they won't take into consideration the old mortgage liability.

    I would say the chances of getting someone removed from a mortgage without having the income to justify taking the mortgage alone are slim these days, particularly with the lenders being required by the ombudsman to ensure people can afford their commitment. Possible but unlikely.
    Originally posted by silvercar
    A lender has to agree to any mortgage so that isn't really a reason to not try.

    My ex got his without issue (from Halifax) a few years ago.. he got the full amount based on his income and they totally ignored the joint one. So it is still possible.

    The only income I have is tax credits, board money from my son, maintenance payments from the ex and child benefit and the mortgage company didn't say no to me taking the mortgage on by myself.. but, I have been paying it by myself for 9 years. They wanted 6 months of me paying the mortgage payments without late payments (I am 21 months ahead due to overpayments) and a bank statement and a full income/outgoings form filled in. And my credit rating is shockingly bad.. so they pretty much ignored that too!

    You can but ask, the worst they can say is no!
    Last edited by pigpen; 16-02-2018 at 7:08 PM.
    LB moment 10/06 Debt Free date 6/6/14
    Hope to be debt free until the day I die
    Mortgage-free Wannabee (05/08/30)
    6/6/14 72,454.65 (5.65% int.)
    15/05/2018 53528.71 (2.41% int.)
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