# tracker mortgage/ family home after seperation



## whatsnext (7 Nov 2014)

hi 
I have an unusual situation where my partner is seperated and I am co habiting with her and her children. She has a tracker mortgage with her ex of 300k with arrears @20 k. the house is in positive equity @ 380k. she has an arrangement with the bank until july next year. In the meantime the house is for sale ( no takers ), I suppose the query is because it is the family home ( if i got permisson from her ex ) would the bank (ulster bank) be open to doing a deal with my partner and myself in trying to keep the home as a family home as I would not get a mortgage of 300k ?


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## niceoneted (7 Nov 2014)

A lot more information would be needed. As in what are you earnings? have you other loans outstanding? Do you have a property?
She would most likely have to get a legal separationa and release her partner from the mortgage and the bank would have to be willing to allow you on it with her then. This would be seen as new mortgage so may loose tracker.


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## whatsnext (7 Nov 2014)

hi i have a permanent job salary 60 k credit card bill 3k savings 30 k no other property, would the bank negotiateon the outstanding mortgage i.e write down the ammount to put us on a variable mortgage ?


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## Monbretia (7 Nov 2014)

Ulster Bank, not a hope, especially with positive equity.

Best case scenario is that they would allow ex off mortgage and put you on but unlikely they would leave the existing tracker alone.  They will more than likely insist on a new mortgage assuming both your incomes qualify you for the outstanding loan.


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## whatsnext (7 Nov 2014)

Ok thks , looks like letting the house sell for what it can get and if any money left over try and get on the property ladder again. When the deal with the bank comes up for renewal in July ,if she adds me to her means they will substantially up the monthly payments for any renewal would it be worth even speaking to them about the mortgage ( with his permission ) to see if there can be anything done to make it more affordable ? Is ulster bank open to any negotiation ? Or would I be showing our hand too early where they could up the repayments based on my salary !


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