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How can my partner stop his ex-wife having the marital home repossessed?

Posted on 29 November 2012 by Jennie


My partner in dispute with his ex-wife who is living in a house owned by both of them. She has not paid her share of mortgage since April and her housing benefits have stopped, so he now risks losing the house. Can he force her to sign over to him? She wants to lose the house so she can claim housing help as single parent but he doesnt want to lose the property, and doesnt seem to be getting anywhere with his current solicitors can you help?

Jennie,

This is really more of a legal matter, rather than a mortgage one, however there are a few things that he can do to minimise the damage to his credit profile and lessen the risk of losing the property.

The main problem with a joint mortgage is that the borrowers are "jointly and severally repsonsible for the payment." That is to say, that from the lenders point of view, both borrowers are equally liable for the full monthly payment, irrespective of any marital difficulties.

If he hasn't already done so, he should speak to the lender to let them know what is happening. If the mortgage is on repayment, he can request that they switch it to interest only, while the case is being settled. Lenders are showing excellent levels of forebearance (leniency) at this moment. Also he should contact the credit reference agencies, to put a notice of "Financial Disassociation" on his file, to separate .  

Also we can look at whether your pertner is in a position to buy his ex-wife out of the property and take the mortgage on in his sole name.

If you would like to discuss your enquiry in more detail, then please let me know and I'll arrange for you to speak to one of our consultants.

Regards,

Simon

simon.collins@johncharcol.co.uk

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Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

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YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.

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