i want to remove ex off mortgage

B

blunt

Guest
hi
well first time on a forum so here goes i split with my ex about 18 months ago.i now want to take her off the mortgage would this be expensive for me to do and very difficult.she has agreed to this and also to transfer equity all over to myself there are children involved and the equity would go to them.do i go to the bank or solicitor to trasfer it all im in the dark on this so any help would be great before i head into a world i dont understand.
thanks
 
Just for starters when the lender granted the Mortgage loan it was to two parties so if you want to have your ex released it is really a new lending proposition for the lender who will have to consider the situation. If your ex (who right now is fully liable to the lender for the loan with yourself) was an earner then you will have to be able to convince the lender that you will be able to meet the mortgage payments on your own. I am setting out the position as i see it as i suspect many young people in similar situations think it is nearly a matter of course to have the ex released. as i said your first step is to get agreement from the lender. Once this is forthcoming the legal steps will follow.
 
Thanks for the reply i feel this is going to be a long bumpy road.i can see i might have a problem proveing i can repay the remander of the mortgage allthough ive paid it for the last 18 months i am a single parent and out of work.the mortgage is low enough to make it easy to repay guess i need to persuade the building society somehow.
 
You are not just taking her off the mortgage. You are buying her half of the house which will incur legal costs for both of you (buyer and seller) and stamp duty.

Is it a cheap tracker by any chance?
 
If you are not working you haven't a hope in hell of getting the lender to agree to removing the other person from the mortgage whether they are working or not. So you may as well start your queries with asking the bank as unfortunately I think you will be going no further than there. It will make no difference that you have been paying the mortgage on your own, you would need to able to qualify for the amount of the mortgage on present lending guidelines and if you are not working then that is not going to happy.

Sorry to be so blunt but no point giving false hope.
 
what if she was to hand over her half the house/equity to the kids which she is willing to do as ive allready spoken to her about that what im not happy with is the thought of 10 years time if house prices was to go up she will end up with any benefit from it
 

Are/Were you married or not ? I am guessing not. Do you have any legal agreement about maintenance / assess for the children. Are you the childrens legal guardian ? Unmarried fathers in Ireland have no automatic legal guardianship.

If you have not sorted this out, you need to.

I agree that it is a very good idea that you to have some sort of legal agreement that the beneficial owner of her half of the house is the kids and it is vital that the two of you have wills. But, if you have no legal agreement at all, maybe you need to talk to a solicitor about this.
 

That's a crazy idea. In any case it cannot be done as there is a mortgage. Plus you cannot take the 'good bit' without a mortgage and transfer that.

What is the value of the house, what is the mortgage, you are unemployed, is your ex unemployed. If there is equity, then it belongs to you both. If there is a mortgage and you are unemployed no bank will let you take over the full mortgage (effectively a new mortgage as another poster mentioned)
 
The mortgae is around 29k house value is around 100k so quite a bit of equity is in the house mortgage payments are low i am legal guardian of 3 kids also payments are easy enougth to be made at 191 pound a month.she does pay me maintaineance to.so bills are easy paid i can understand nobody would get a mortgage being unemployed and i do think one of my next steps will be a solicitor thanks for all the comments so far there all helping me along this rocky path.
 
On reflection, I think that the title of this thread is throwing us off.

Blunt's objective is not to get his ex off the mortgage - it's to get her off the title deeds to the property. He doesn't care if she is on the mortgage or not.

Presumably her objective is to be off both the property and the mortgage.

As the mortgage is so small in relation to the value of the property, I wonder would the bank be happy to put the mortgage in your name if someone else guaranteed the loan?

What does your ex want out of it? If she comes off the title to the house but not the mortgage, then she is vulnerable if you don't pay the mortgage.

Brendan
 
blunt, did you ever get this sorted out? I had been told about a waiver that could be signed. I'm a lone parent and living in the family home, separated a couple of years. My community welfare officer told me I wouldn't get MIS as my husband's name is still on the house. If you managed to move things further could you share your updates with us? Thanks
 
What is the waiver Dubinamerica. Did the CWO mention this or someone else?
 
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