Talk

Advanced search

Mumsnet has not checked the qualifications of anyone posting here. Free legal advice is available from a Citizen's Advice Bureau, and the Law Society can supply a list of local solicitors.

Joint mortgage nightmare on ex-house with ex-husband

(16 Posts)
bananamilkshake1 Thu 15-Dec-16 16:01:50

I'm in a nightmare situation with ex & am hoping someone might have some advice. I keep going round in circles...

Divorced a few years ago. My name still on mortgage of ex house which was rented (now empty) as ex-h lives/works away. House on market & not selling & ex has defaulted on mortgage payments which means I'm being constantly chased. Part of consent order at the time of divorce was that ex maintained payments & indemnified me - clearly he hasn't done this & is in breach, but I'm thinking it's pointless to try to enforce the order as I'll be throwing good money after bad.

Ex works in finance & always handled our money matters when we together, seems I didn't know the half of it. I moved on, have my own mortgage which I'm overpaying & my credit rating (prior to this) was exceptional. I've tried to get my name removed from the mortgage for years, but to no avail. Ex seems to be unable to finance the house either on his own or with ow. Is there any way out for me? financial coercion? Bankruptcy not an option.

Thanks.

Heratnumber7 Thu 15-Dec-16 16:14:04

If you can't sell the house how about renting it out to cover the mortgage, or living in it?

19lottie82 Thu 15-Dec-16 16:34:20

The simplest thing would be to get the property sold ASAP.

If it's not selling, then 99.9% of the time, it's over priced.
Can you not lower the price to get rid of it?

bananamilkshake1 Thu 15-Dec-16 16:48:12

Hi and thanks for the replies.

Due to ex's negligence (i.e. multiple re-mortgages) , the property is pretty much negative equity (and it's already been reduced by £40k in order to hasten a sale) There has been

If it sells for the price being asked, then there is still a sizeable balance which would need to be re-financed in order to complete the sale. The last thing I want to do is enter into any more finance agreements with ex, but am struggling to see an alternative. Then, the next time he's a "bit short" & stops paying, the loan company will be after me again.

I'm so stressed about the whole thing - I feel like I'll never be free of him.

bananamilkshake1 Thu 15-Dec-16 16:52:57

* there has been recent interest though.

Viviennemary Thu 15-Dec-16 20:34:13

You need some financial and/or legal advice. I'd say the loan companies won't leave you alone as long as your name is on the mortgage. Isn't renting it out the best way forward for the short term. Even a year. That is if the rent would cover the mortgage. But ignoring this won't make it go away. If it sells and there isn't enough to pay the mortgage you would both be in default and this will affect credit ratings. Were you badly advised by solicitors at time of your divorce. In that your name remained on the mortgage.

SloeGinandTonic Fri 16-Dec-16 21:07:10

He can't have remortgaged it without your permission and signatures.

Ellisandra Sat 17-Dec-16 10:07:23

Why do you think it's pointless to enforce your CO? Why did you bother with it in the first place then?
You need to see a solicitor about how best to proceed to protect yourself.

Ellisandra Sat 17-Dec-16 10:10:51

How did the CO make him indemnify you? If he hasn't got the money, he can't pay it - and that's not the problem of the mortgagor. I don't see how he can indemnify you... maybe be forced by the CO to pay some kind of void period rent insurance?
I would be asking solicitor if him breaking the CO would give any scope for forcing him to remortgage alone.

43percentburnt Sat 17-Dec-16 10:14:45

Do you have legal advice through work (lots of large companies have it as a perk) or through your home insurance policy?

Heratnumber7 Sat 17-Dec-16 10:37:01

A) he couldn't have remortgaged the house without your signature
B) no mortgage company would give a loan for more than a house is worth (negative equity).

You have a joint mortgage, which you have a joint responsibility to pay. However the terms of the debt can't be changed by him alone.

Who is in the house now? Is it empty or is someone living in it?

The story doesn't stack up. Not saying you're lying, but there must be more to it.

bananamilkshake1 Mon 19-Dec-16 13:39:39

Hi everyone and thanks for the thoughtful replies. I fear if I start posting too much information on here, I'm likely to be identifiable. Everything I've said is 100% truthful, unfortunately I have an ex husband who is deceitful, conniving and lacking in morals.

Re further advances though, there were made by the mortgage co & I had no knowledge of them. Apparently given they were under £50k each, my signature was not needed. There were 3 on the account in the space of a year...

I'm already taking advice and am hoping I can resolve this issue in some way.

Thanks again,

Banana

CheddarGorgeous Mon 19-Dec-16 13:58:36

Have you looked into any misselling issues with the bank? Three remortgaged in one year without your signature or consent seems very dodgy.

MovingOnUpMovingOnOut Mon 19-Dec-16 14:04:54

Go after the bank. To cover themselves after the O'Brien ruling they need to be certain both parties are benefitting from the money.

MovingOnUpMovingOnOut Mon 19-Dec-16 14:06:10

Details here: webstroke.co.uk/law/cases/barclays-bank-v-obrien-1994

Heratnumber7 Mon 19-Dec-16 23:24:24

I work for a bank. I'm pretty sure you wouldn't get three advances on your mortgage in a year, without your signature. They wouldn't lend more than the property is worth either, or more than you can pay back.
There are Rules.

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now