Mortgage Separation

[Reeah30]

You reached an agreement with him back in March.
You were both independently advised by solicitors.

No, the courts will not order him to pay half the mortgage.

If he takes you to court, there is really no knowing what the court will do. I would imagine that they would ask you to honour your agreement. But they might give you time to do so.

Your best approach is to try to find someone else - maybe a relative - to take out a mortgage with you to replace your mortgage with him.

Another possibility, although it's a long shot, is to ask a Credit Union.

Brendan

Brendan,

I really appreciate what you've suggested, but all my family have mortgages. Would the Judge not take into consideration that he took the €40k knowing that I had not got someone to take it over, even though wasn't to recieve until the above was done.

 

[Reeah30]

Would the Bank accept a Guarantor on my mortgage, to get my ex partners name off it.

The Guarantor has a very reputable business, and assets.

Maybe, someone might know.

Thank you.

 

[Monbretia]

The bank would most likely want you and the guarantor to apply for a joint new mortgage and clear off the other one so guarantor would be full applicant on a mortgage rather than guarantor. That was usually the way it was done in previous years and probably even more likely to be as strict now if they will do it at all.

They will be interested in the guarantor's income rather than assets etc, ability to repay is always the first critieria but it means your guarantor giving their income details/business accounts to the bank, not everyone is happy with that. They are also totally responsible for the loan should you not pay but that would be the situation whether guarantor or joint applicant.

 

[Reeah30]

The bank would most likely want you and the guarantor to apply for a joint new mortgage and clear off the other one so guarantor would be full applicant on a mortgage rather than guarantor. That was usually the way it was done in previous years and probably even more likely to be as strict now if they will do it at all.

They will be interested in the guarantor's income rather than assets etc, ability to repay is always the first critieria but it means your guarantor giving their income details/business accounts to the bank, not everyone is happy with that. They are also totally responsible for the loan should you not pay but that would be the situation whether guarantor or joint applicant.

Hi, thank you for your reply. My Guarantor, would have no problem giving in his details. As his business and personal accounts are with the same bank, I have the mortgage with. No harm in trying I suppose. I'm going down every avenue possible.