Liability for mortgage payments

Posted on 1 April 2011 by wendy

My husband and I are seperating. We have 2 daughters aged 14 and 9. It has been agreed they will live with me and Dad can have access whenever he wants. Both of our names are on the mortgage and deeds to the family home. If the children and I move out of the family home and rent privately am I still liable for the mortage payments and vice versa?


Until your name is removed from the mortgage you will continue to have a joint and several liability for the mortgage regardless of where you are living.  In other words the Lender can still pursue you for any outstanding payments or ultimately any loss on sale in possession. 

Usually a Lender will consider a transfer of title if the remaining borrower can afford the mortgage debt on their own or with a new partner.  If not the Lender will not agree to the transfer and the existing borrowers will remain liable for the mortgage even if a solicitor transfers the property into one name.  In this instance you would not own the property but would still have full liability for the mortgage.  Not a good situation to end up in.

I recommend that you speak to your local Citizens Advice Centre or we can refer you to our in house legal team, Rollingsons Solicitors Limited.  Please call on 0344 346 3672 and tell the consultant the date and title of your question if you would like us to do this.


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.

We recommend you seek professional advice with regard to any of these topics where appropriate.

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