My dp is on a mortgage with his mum and brother at the moment but he wants to be taken off it. They both went on it about 2 years ago so that she could keep the house as the bank wouldn't give her a mortgage in just her name. The dss pays her mortgage for her as she has an interest only mortgage. Dp and his brother only have a 1% share of the deeds each at his mother's request (and they agreed to). Dp is only just 22 at the moment and wants to have a family and house with me now, he did her a favour by going on the mortgage with her but now she is refusing to sell the house (like she agreed to) so that he can get a mortgage.
It's all quite complicated as she also has almost 10 and almost 14 year old daughters living with her but she could sell and get somewhere smaller (she has equity in the house). She's suggested that she will not sell until her youngest is out of school even though that will affect both my dp and his brother's (who is about 26) chances of getting their own mortgage.
Apparently the mortgage company will not give her and his brother a mortgage on their own without my dp. This is where an issue lies; he isn't working as he's just finished university this week so why would they want him to stay on it??!
If the situation stays like this then we won't be able to get married anytime soon (even though we had planned to this year ) as I have 3 children of my own and I don't want to have myself liable should his mother default on payments. Her mortgage won't be paid for her from October because of the new lone parent changes with regards to working. We are engaged at the moment and wanted to have children together but I don't want to wait many more years (31 this year) because I don't want a big age gap and I also want to be married first.
Is there anything at all he can do? He's been trying to get details from his mother but she is reluctant to give them to him. He is calling the bank tomorrow to see what they say but does anyone have any ideas? I don't see why they need him on the mortgage at all as security as he isn't working in which case she wouldn't have to sell the house at all.
Personally I think it was a very big thing to ask of her 19 year old son at the time and she shouldn't have done it.
Things are very complicated and messy with her and her past with past legal action against her with a previous ex and she paid her off to get her off the mortgage hence she then asked dp and his brother to go on it instead. Dp had issues with this too at the time as she just moved another woman in to the house (he was about 16 I think at the time) and then suddenly announced it was her partner. They got the house/mortgage together and then it all turned sour. Dp's dad is dead but his sisters' dad is still alive and sees them although he now has a new family too.
Sorry this is so long but I'm sorry worried about things that I can't sleep properly and I've given myself a headache today trying to figure it all out and think of options.
I'm not a professional, but I think that you need to see a solicitor if you can. Building societies don't like to take anyone off a mortgage. As far as they're concerned, the more people on the mortgage, then the more people that they have to chase for the money.
I completely agree that it was a really inappropriate thing to ask your DP to go on the mortgage. Especially as they have only 1% of the house according to the deeds! I'm guessing that she can't afford to buy them out? Could you go to CAB if you can't afford to see a solicitor? What a mess.
MTM - I know, it's such a mess, he really does need to speak to someone about it and he's going to. I still cannot get my head around the fact that she actually asked them and is now, effectively, making them unable to get their own mortgage for the forseeable future Is that true that they couldn't ask me for the money? That was what I was worried about, especially as I already have children and a house myself. Thanks for the advice.
That's what I've read on financial websites. It would be awful for you to have to put your lives on hold for this. The money side is bad enough! I reckon that this is too tangled for mere mortals though, and that the CAB or a solicitor is needed.
Thanks again. I thought as much really. I just hope we don't have to wait can't believe the situation we're in. Dp also has health issues so this is the last thing he needs He's on warfarin for life now after having a pulmonary embollism and 3 blood clots in his leg plus other things, seems nothing is going right for him.