I have applied for a mortgage in my own name and have passed all criteria except the fact that my ex decided not to pay the mortgage on the family home for tactical reasons, after we parted in 2006. I am still on the family mortgage but have absolutely no control as to whether she decides to pay it or not.
I am currently paying the usual exorbitant rental rates that are prevalent in the housing sector at this time plus maintenance so I am not in a position to pay my rent and the mortgage on the family home.
However were I able to secure a mortgage in my own name I would be €500 better off each month.
The arrears on the mortgage on the family house was re-capitalised and the mortgage is currently up-to-date.
Following her abduction of the kids, again for tactical reasons, a legal agreement was drawn up that stated that she would return the kids to this jurisdiction and I would move out on the basis that she covered the mortgage. She then went into arrears as stated above.
In September 2015 having finally after 7 years of trying I got my financial settlement in place to enable me to apply for a mortgage in my own name. As part of that agreement I was to transfer sole ownership of the family home to her.
I contacted the mortgage provider for the family home to do this and was informed verbally that once she proved payment capacity for a six month period they would look favourably on putting the mortgage in her sole name and on that basis I did not seek the sale of the house.
But when the six months were up (she paid the mortgage in full for this period and is still doing so) The mortgage provider for the family home said that the only way I could get off the mortgage was to a) seek the sale of the family home or b) she applied for a mortgage in her own name to take over the balance outstanding.
I would rather not seek the sale of the family house as it will directly impact on the kids (but will do if this is the only option) I don't think option b) is viable as she will is unlikely to get a mortgage in her own name on the family house due to her poor payment history.
So does anyone have any suggestions as to how I might overcome this?
I am currently paying the usual exorbitant rental rates that are prevalent in the housing sector at this time plus maintenance so I am not in a position to pay my rent and the mortgage on the family home.
However were I able to secure a mortgage in my own name I would be €500 better off each month.
The arrears on the mortgage on the family house was re-capitalised and the mortgage is currently up-to-date.
Following her abduction of the kids, again for tactical reasons, a legal agreement was drawn up that stated that she would return the kids to this jurisdiction and I would move out on the basis that she covered the mortgage. She then went into arrears as stated above.
In September 2015 having finally after 7 years of trying I got my financial settlement in place to enable me to apply for a mortgage in my own name. As part of that agreement I was to transfer sole ownership of the family home to her.
I contacted the mortgage provider for the family home to do this and was informed verbally that once she proved payment capacity for a six month period they would look favourably on putting the mortgage in her sole name and on that basis I did not seek the sale of the house.
But when the six months were up (she paid the mortgage in full for this period and is still doing so) The mortgage provider for the family home said that the only way I could get off the mortgage was to a) seek the sale of the family home or b) she applied for a mortgage in her own name to take over the balance outstanding.
I would rather not seek the sale of the family house as it will directly impact on the kids (but will do if this is the only option) I don't think option b) is viable as she will is unlikely to get a mortgage in her own name on the family house due to her poor payment history.
So does anyone have any suggestions as to how I might overcome this?