Separation and the Mortgage

Posted on 6 February 2011 by Ginny


I have recently seperated with my partner of one and a half years. He added his name to my mortgage to get my ex husband off it and now unfortunately things have not worked out here either. He now wants his name off the mortgage asap but I know that my mortgage lender won't allow me to have it in my name alone. My salary won't justify this, even though I know I can manage it easily enough. Does anyone know what the options are, I've been told the usual like having a guarantor, but that's not an option either. Am I really going to have to sell my family home and probably make a loss after selling and then not be able to afford to rent somewhere decent for my 2 children to live in?

Ginny,

Unless you have the income to support the mortgage on your own without relying on State benefits then you are correct to think that your Lender will not release your ex partner from the mortgage. You seem sure that you have the income to support the mortgage and it may be worthwhile speaking to an independent mortgage adviser to complete a budget planner and seeing if it is possible to remortgage the property to your sole name.

If the only option for you is to sell the property I recommend that you seek independent legal advice before agreeing anything with your partner. As it stands you are both individually and jointly responsible for making the mortgage payments and for any debts outstanding.

Peter

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