Getting name removed from mortgage

[charlie2009]

Hi,

My now ex partner and I split up in Sep '07 and I moved out of our jointly owned flat. I took nothing from the flat and have received no money from it-we had a verbal agreement that he would finish the probationary period of his job, then sell it and move back to his home town and we would split any profits. However, he is now living there with his fiance and I wish to get my name removed from the mortgage to allow myself, my new fiance and son to buy a shared ownership property.

I have none of the paper work for solicitors used or for the mortgage company and he seems less than willing to help apart from saying we need to pay a solicitor and the mortgage co to get my name removed, which he says he cannot afford. Any idea how much this will cost and whether I can make him pay for it? Or if I should be brought out? We have far less money than him with a new baby and me being on maternity leave!

Any advise would be greatly appreciated. Thanks!

[redcrx]

the mortgage company will only remove your name if your ex can satisfies their requirements for taking on the mortgage alone. It doesnt matter whether he is paying it at present, if he cant afford the loan they will not remove you from it.
You could maybe look at enforcing the sale of the property though if he cant or wont take on the mortgage alone.

Obviously, any negative equity you may be jointly responsible for.

[STIDW]

In England & Wales if you were unmarried you will need to rely on property law, the Trusts of Land and Appointment of Trustees Act 1996, and if both names are currently on the deeds it will be assumed that you hold equal shares unless it is stated differently. You can apply to court to have the property sold and the equity shared or it can be transferred to your ex partner if he wishes to buy you out.

However, it is a complicated and expensive area of law so it would be good if you can enter into negotiations and come to an agreement between yourselves. Alternatively you could use a mediator who will work with both parties to find a way forward that works for everyone, or there is old fashioned negotiation through solicitors.

[charlie2009]

Thanks very much for your help.