How to get ex-husband's name off mortgage if I can't get a mortgage?

@TheBakersDozen

Do your kids have:

A) a right of residence til a certain age
B) an actual ownership share (as in names on the deeds)
C) something else

Likewise it would be useful to know when all of them will be adults.

You will get more useful advice if you share this information.
 
Would it be possible for yourself, your ex and future husband all get personal loans and clear the mortgage, so that you can all move on. Draw up a written agreement to clear the personal loans when you have both remortgaged.
 


1 of the children is an adults the other isn't and won't be for a few years. The document is that they have a % share in the house with a right of residence for life
 
7 of 9 said:
Would it be possible for yourself, your ex and future husband all get personal loans and clear the mortgage, so that you can all move on. Draw up a written agreement to clear the personal loans when you have both remortgaged.
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I don't think that this is workable as my ex has no available funds after the divorce and is currently using the vast majority of his income on rent and bills (this is why he wants to buy his own place)
 
TheBakersDozen said:
1 of the children is an adults the other isn't and won't be for a few years. The document is that they have a % share in the house with a right of residence for life
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Maybe you can buy out their share and get them to revoke the lifetime residence when they are both adults.

You, ex, and kids will need separate legal advice on this. My view is that the solicitors that got you into this mess are probably not the best ones to get you out of it.
 
Is there a way of getting the mortgage paid off through personal loans for you and your partner?

Also thinking about the trust. When does that come into effect? As the bank have a lien on the property, would they not have to give permission for a part of it to be put into a trust while there is debt on it?

The whole thing is a mess to be honest with no forward thinking or foresight by either of the solicitors involved.
 
7 of 9 said:
Would it be possible for yourself, your ex and future husband all get personal loans and clear the mortgage,
Click to expand...
The husband has already put €200k in to the house. She has the house now with a small outstanding mortgage on it. I would say that he has been thinking of his children here, ensuring their future. She may marry again...her new husband will acquire ownership rights. Why should her ex husband be expected to help clear the loan for his ex wife and future partner?

I think she needs to pound the streets, approaching all lenders with a view to getting the outstanding loan transferred in to her name. How hard is she trying?
 
Being honest, this is what I agree with. He has walked away from the house, not looking for anything, bar future proofing the kids entitlement to the house (the exact point he raised was that if I remarry, the kids are at risk with the house). I have been going around to everyone and they say I cant get a personal loan as long as I have a mortgage, and I cant get "another" mortgage due to the trust of the kids. Its all a complete mess and neither myself of my ex husband seem to be able to figure a way out of this. The solicitors are shrugging their shoulders somewhat too...
 
You need to sit down with your ex and sort out a solution.

He has to take the risk that your kids will not get it. But as it is, you can't remortgage and you can't move if you need to move.

So that bit of it needs to be got rid of.

And your solicitors will presumably need to get the court to allow it.

Brendan
 
This seems like a complete mess. It's similar to some of the disastrous situations that people setup beyond the grave, as they over engineer wills... absolutely nuts that everyone agreed to this...

Sone potential concerns:

- Can you even sell the house,now that your adult child and minor child have right to reside? You should absolutely find that out! Fast forward 20 years.. what happens then if you want to downsize?

- coulD this setup mess up the kids first time buyer status down the road? Are they considered -owners of a house?

- Any potential issues with fair deal if you (or partner) ever need to avail of that?

- there's really no benefit to the kids with this setup whatsoever as they may never be able to sell the house if the other sibling continues to live in the property long term...

- is there a low cost option to remove the right to reside?

- How is the number of 200k being calculated? Is this what your ex contributed via a lump sum payment?

- what if one if the kids marries in the future, will their spouse have a claim on the property even if its just to live in it? I'd be mindful of leaving yourself open to an unwanted living arrangement in years to come.


Option 1:
Sell the house (if possible). Bank approx 320k.
- Can you give some of this to the kids? Or even better directly to your ex and let him figure out next steps? Would it be possible to agree a figure?
- can you and partner get a mortgage to purchase another home?

Option 2:
Don't sell the house. Get kids names off of it and revoke the right to residency and agree to buy out your ex...
- will you and partner be eligible for mortgage or loan in this case?
- can you raise money to pay off your ex ?

If it was me, I wouldn't sit on this too long. God forbid sonething happens to your ex husband it may get increasingly difficult to wrangle out of this setup.
 
Is your husband named on the title deeds?

Is the banks security non-existent as far as he is concerned if he is not?

If you were to default on the repayments the bank would chase the both of you..... but he has nothing to lose except a house that he no longer has any interest in.

If he refused to make further repayments then they would opt to use their security to have the loan repaid and force the sale of the house.

I think if you are hiding behind your ex husband as a back up, just in case I think it could backfire on you.

How hard are you trying to get a mortgage in your own name?
 
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