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Original poster

How to get off a mortgage

89 replies

AlbertBridge · 31/01/2022 09:15

My DH bought a house with his ex back in 2005. They split in 2009. He’s still on the mortgage as his ex refuses to buy him out, sell or even discuss it.

His ex lives there with one of their DC, who will be 18 next year. The older DC has already left home.

The mortgage is interest only. After selling, there’d probably be about £250k equity left. DH is saying he’d be happy to get off the mortgage and walk away without any equity, but I don’t think that’s fair as he paid for renovations on the property and paid the mortgage when they were together. AIBU to think he’s entitled to a share of the equity?

This old mortgage means we can’t buy a house together due to the extra stamp duty he’d have to pay because it would be classed as his “second home”. So we are stuck in the house I could afford to buy by myself. We desperately want to move before we get too old to get a mortgage (we’re both in our 50s).

What can we do? The ex is not a nice person and will go nuclear when we begin this process.

OP posts:
Collaborate · 31/01/2022 09:46

Was he married to her?

If not it is straightforward. He can apply to court for an order for sale. The court can assess any claim she might have for more than half the equity (sounds like a straight 50/50 split but he's best of speaking to a lawyer). He's bound to get an order for sale.

If they were married then either he (if he divorced her) or her (if she divorced him, or if hse has not remarried) can apply for financial remedy as part of the divorce. If she divoced him he can still apply as per above for an order for sale but the court might have some flexibility to adjust entitlements.

Original poster
AlbertBridge · 31/01/2022 09:50

Hello ~ thank you for this. They were never married.

It’s especially scary as we just found out (after searching the land registry) that she recently got a CCJ last year which has registered a charge in her name against the property. I’m really terrified that will affect my husband’s chances of getting a mortgage.

Will he have to wait till both DC are over 18 to get an order for sale? Or could he get one now considering the property is big and they really only need two bedrooms now?

OP posts:
ChicCroissant · 31/01/2022 09:54

So the interest-only mortgage has about another 8 years to run assuming it's a 25 year one, and then they will both be expected to pay the outstanding amount for the house? He can't ignore it much longer really, but the only way to get off a mortgage is to redeem (pay) it. The ex doesn't sound like she's going to do that so it will have to be sold. Does he still pay part of the mortgage?

Original poster
AlbertBridge · 31/01/2022 10:00

No, he doesn’t pay it now. And yes, it has 8 years left!

OP posts:
ChicCroissant · 31/01/2022 10:07

Do they have any way of repaying it at the end, an endowment policy or similar? If not, she's going to have to face it sooner rather than later! If he's not paid since 2009 (which is around 13 years now) then I'm not sure what his proportion of the equity would be - was there any agreement when they separated?

It would be easier to start the sale process now than being up against the deadline of the mortgage redemption (especially if they have no method of repayment at the end!) Good luck, must be stressful for all concerned.

Collaborate · 31/01/2022 10:09

The CCJ should not affect his credit rating. It will be an equitable charge secured against her half interest only.

Original poster
AlbertBridge · 31/01/2022 10:23

@collaborate Thank you,! That’s reassuring.

@ChicCroissant No, she doesn’t have an endowment policy, as far as we know. I don’t know what her plan is.

OP posts:
Leftbutcameback · 31/01/2022 10:31

I might be missing something here, but what is your DH plan for repayment? It’s not just hers to repay, it’s his too as he is on the mortgage.

Leftbutcameback · 31/01/2022 10:33

And you’ve mentioned the equity but how much is owed?

I would suggest a very good family lawyer, who has a good property lawyer in their firm. It sounds messy.

LemonTT · 31/01/2022 10:37

If it was jointly owned then he is entitled to half of the equity. Or, it’s a defined split of equity.

It’s ridiculous to wait eight years to get nothing. He should tell her he intends to start legal steps to sell the house and split the equity. She can go along with it and accept a bit more money or fight it and spend money on solicitors who won’t change the outcome.

This is a no brainer. He does nothing he gets nothing. He does something he gains a lot of money even with legal costs.

Original poster
AlbertBridge · 31/01/2022 10:44

I’ve just been studying the deeds and there’s an entry in it from 2014. It’s what they write when someone severs the joint tenancy and makes you tenants in common. “No disposition by a sole proprietor of the registered estate (except a trust corporation)” etc.

We were together then and I know that DH didn’t receive any notice of that severance. Is that legal?

OP posts:
Original poster
AlbertBridge · 31/01/2022 10:47

@Leftbutcameback It sounds messy Doesn’t it! I think that’s why DH has been ignoring it for so long. (We have rowed about this, several times.)

He’s spoken to a few solicitors who all seemed to suggest it’s not as easy as it sounds to force a sale. That might have been while there were two DC living there, though.

OP posts:
Original poster
AlbertBridge · 31/01/2022 10:53

£200k owing.

OP posts:
Original poster
AlbertBridge · 31/01/2022 10:54

@Leftbutcameback I might be missing something here, but what is your DH plan for repayment? It’s not just hers to repay, it’s his too as he is on the mortgage

You’re not missing anything, it’s a fair question. His plan is to repay it by selling the house.

OP posts:
Collaborate · 31/01/2022 10:56

[quote AlbertBridge]**@Leftbutcameback* I might be missing something here, but what is your DH plan for repayment? It’s not just hers to repay, it’s his too as he is on the mortgage*

You’re not missing anything, it’s a fair question. His plan is to repay it by selling the house.[/quote]
This is a perfectly proper plan in the circumstances.

Original poster
AlbertBridge · 31/01/2022 11:00

@Collaborate Do you know if it's legal to sever a joint tenancy without giving the other party notice? Is there a way to prove someone never got notice?

OP posts:
Original poster
AlbertBridge · 31/01/2022 12:02

I just read that tenants in common will each have a defined share of the property. I assume that'll be written down somewhere? Wouldn't DH have had to agree to this?

Are there records of this held anywhere we can access them - I don't think it's on the deeds.

OP posts:
Embracelife · 31/01/2022 12:06

TOLATA
he needs to serve notice to force a sale.
Tenants in common is fine
No need to focus on that
Will still be 50 50 share from equity unless otherwise specified

delilahbucket · 31/01/2022 12:15

He needs a solicitor and to serve notice that the property will be sold. He could try telling her his intentions first, but personally I would just go straight to a solicitor.

donkeyhottie · 31/01/2022 12:16

Severing the joint tenancy will make a presumption of a 50/50 split so no change there. Becoming a tenant in common means your DP can leave his share of any equity in his Will, which means his ex wouldn't automatically inherit if he were to die. And vice versa. Very common to sever the JT on separation. Is there a reason why he would want to remain a JT?

Original poster
AlbertBridge · 31/01/2022 12:20

Is there a reason why he would want to remain a JT?

No, none! It was just me poking about in the deeds without really understanding what it meant. 😆

Plus the fact I don't think she served him notice if the severance means I'm starting to think she's shady, and wondered if she's done anything underhand, like splitting the property 99% to her and 1% him, for example.

OP posts:
Original poster
AlbertBridge · 31/01/2022 12:20

*of the severance

OP posts:
Embracelife · 31/01/2022 12:25

Just serve notice to sell
Get z biyer
Sell
In the conveyancing the split will be clear
If she claiming 9o % address that then during the process

Original poster
AlbertBridge · 31/01/2022 12:28

Do we have to wait till youngest child is 18?

OP posts:
Tinkywinkydinkydoo · 31/01/2022 12:34

I would at least start the process, she could drag it out for a very long time with mediation etc.