Taking name off mortgage but retaining equity

[seanocasey]

Unusual problem cannot find an equivalent question.

My problem is
Separated ex and I get 50% split in house.
Mortgage left approx €40000

As I am recently now disabled ex would like for me to keep house till property values increase again and allow me to conduct my new business from house. Also to allow me to get on my feet financially again.

What ex. problem is she can not get an affordable house because of points system is also based on our mortgage or her having equity in house.
Is there a way for her to retain her equity or value, or transfer equity to loan to me? That I have to payback to her on retirement age. In say 10-12 years time

Or transfer it to something else.

At the moment I will not get a mortgage as I am on invalidity pension.

 

[Vanilla]

The only thing I can think of is whether it would alter matters with the council taking the equity into account if you had an exclusive right of residence in the house- you'd also have to have the okay from your bank before doing this. I'd say it's a long shot realistically. And even at she would still be joint mortgagee. She can't or shouldnt transfer the house into your sole name because a. the bank won't let her while you can't get a new mortgage in your sole name and b. she should safeguard her equity. And even if she were to transfer the house into your sole name and remain on the mortgage that would still count against her in the affordable scheme I presume in terms of her ability to repay. Only way out is for you to become eligible to remortgage on your own account or for the mortgage to be paid off in full and then see about either a transfer into your sole name or the possible exclusive right of residence type scenario. Although it wouldnt be secure from her point of view, you could sell, downsize with no mortgage and put it in your sole name. Were you married? Because if not you'll also have to take into account possible gift tax and stamp duty implications.