Stopping Mortgage Payments

Posted on 5 April 2011 by frank

I am separating with the mother of our 10 and 11 year old. We were never married. She is refusing to sell, solicitors are involved. If I call the lender and said I wanted to stop mortgage payments, what are the implications?


First of all you both have a legal duty to make sure the mortgage payments are paid in full and on time.  If you stop paying the mortgage then ultimately you could lose the property and the Lender will recoup not only the outstanding mortgage but unpaid interest, legal costs and the costs of sale before releasing any remaining equity.  If there are insufficient funds available from the sale then the Lender can pursue both of you for the amount of any loss.  Needless to say this would adversely affect your credit rating and ability to get any form of credit for years to come.

You should talk to your lender if you are having difficulty meeting the mortgage payments as there may be ways that they can help you reduce them without the threat of arrears and repossession.


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.

You are currently offline. Some pages or content may fail to load.