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Divorce/separation

Here you'll find divorce help and support from other Mners. For legal advice, you may find Advice Now guides useful.

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Original poster

Seperate on (7year gone) and mortgage

31 replies

Wanda82 · 08/05/2016 08:37

Good morning all I'm not sure if I'm in the right forum as I am new but please bear with me I hope someone can point me in the right direction!

My fiancé and I have been together 6 years, prior to our relationship he had a long term relationship with someone and they had a child and bought a house together. The house was purchased in Dec 2007 and was purchased through a mortgage of £82500 and a deposit put forward by my fiances parents of £40000. This deposit was written up by a solicitor and stating that upon sale of the house £40000 is to be returned directly to my finances parents- this money is to be their sons inheritance.

When my partner and I met in 2009 his ex remained in the home with their four year old son and paid the mortgage independently, my finances name is still on the mortgage. There were lots of issues in the early days including severe arrears ( that we were unaware of at the time) and the threat of repossession- we only found out about these issue by accident as she will not allow him access to any paper work or even the home. However since around 2013 the mortgage has been brought back up to date ( by the ex) and us been being paid regularly by her and her new partner.

Now it gets complicated. We have had a phone call This evening to ask 'if she moved out would we (my partner and I)' be interested in the house. When questioned it surmises that her and her partner have split and she is not able to afford the house on her own.

My question is what happens now?? My partner and I would very much like the house of we could ( we have been looking for somewhere new and we rent at the moment) and we would happily take over the mortgage to maintain the property for his sons future and his parents investment. However she is under the impression that she would 'have some money' out of the scenario- I think she's hoping for us to buy her out, something we don't have the means to do. Question is what CAN be done? My partner an I have no savings as we are marrying next July and though we would be able to afford a mortgage I'm not sure we would get one due to the unstable nature of my job ( I'm a teacher and there are no permemant contracts) and previous credit history.

We would like to secure his parents investment but also not lose the opportunity to own our own property: what are our options?

Again apologies if I've rambled or anything is confusing please ask if you don't get what I mean as any advice is welcome.

I have no preconceptions, in all honestly I've I just wanted his name off the mortgage for some time preferably before we marry next year but with this new issue I don't know what our options are and I certainly don't want the mortgage falling into arrears again- the last time that happened she said have would rather have it repossessed that let us live there, we are already in a better place as she's offering this time!

Thanks all!

OP posts:

Original poster

Wanda82 · 08/05/2016 12:46

I am angry because she has done this before and was excelltionally spiteful about it, didn't tell us and threatened to have the house repossessed rather than sell or sort it. This time she has fronted up but it's not going to make it easier. I and we would never let my stepson be put on the street she would move in with her parents but we are not in a financial position to pay the mortgage on top of our own rent.

As for or wedding that is a gift from my parents something they have always wanted to do and will still happen.

10k is a bargain yes but we don't have it simply. Out credit scores aren't great mine is higher than his currently but that's because he lacks credit.we won't get a loan because of it.

His parents have been generous yes however they have already invested a lot of money and asking for more even as a loan is not an option.

The background is very messy, and to clarify he didn't walk out and leave her alone it was mutual. He actually left with just the clothes on his back and more debts than I care to talk about - all paid off by me and my parents.

OP posts:

lifeisunjust · 08/05/2016 12:51

Again the repossession is NOT the ex's responsibility alone. Your boyfriend is just as responsible.

Your boyfriend has had 7 years to sort this out. You must stop blaming the ex. HE IS RESPONSIBLE.

Just5minswithDacre · 08/05/2016 12:53

His parents have been generous yes however they have already invested a lot of money and asking for more even as a loan is not an option.

But they need to be informed at the very least. Their money is tied up in the house.

I think you need to let all of that go. Presumably she has reason to feel upset about events 7 years ago too. If you all keep rehashing that, you'll get nowhere.

lifeisunjust · 08/05/2016 13:01

It does not take long to build up a credit record. I did it for myself. It took about 12 months to go from no record to excellent.

Your boyfriend seems to have had everyone else paying his bills and loans. Perhaps this is time to wake up.

I live on an exceptionally low income. I managed to get loans 2 times my annual income. It was bloody hard waiting for my credit score to improve but I watched it rise and made decisions based on what I learned about how credit scores are calculated.

Original poster

Wanda82 · 08/05/2016 13:28

The comment about the history was directed to someone who asked about the past. I was simply clarifying- I let go along time ago or I wouldn't be marrying him.

As for him yes I agree he needs to wake up but I was simply asking for advice as to what to do in a situation like this and getting him to wake up to the circumstances is something I working on.

His parents have been informed, in great detail as we only found out ourselves last night this happened this morning when we went to see them.

I will be seeking some guidance professionally I was just looking for some input before I do. I've never had a mortgage so this is alien to me

OP posts:

Just5minswithDacre · 08/05/2016 13:36

You (your DB or both of you together) only have three options, really;

Buy her out (you say you can't).

Let her buy your DB out (she doesn't want to and can't afford the mortgage anyway)

Sell the house or let it be repossessed (not the preferred option but maybe there'll be no choice).

There aren't other magical options.

In terms of qualifying for mortgages or loans;

If you have defaults, CCJs or serious late payments on your credit file you won't be able to get a mortgage until they're gone (six years from the effective date).IF the problems are less serious than that, print all three of your credit files out and go and see an independent mortgage broker with details of your temporary work contract. There could be options.

If your DB's problem is a 'thin' credit file rather than poor credit, he needs to apply for a 'starter' credit card TODAY, so that six months from now, he'll be in with a chance of a mortgage. Until he does that, he'll always have problems.

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