Mortgage

[Trudi53]

My partner and myself split 5 years ago, all is amicable but now is the time to take myself off of the mortgage, I was hoping it would be as simple as signing a form, that does not seem to be the case. Can anyone advise please.

[dave50]

You will have to prove you can pay the mortgage on your own so you will have to re-apply for a new mortgage.

[dave50]

Sorry, I meant he will.

[ubasses]

No you cannot be taken off a Mortgage. A new one has to be agreed with the lender and (I assume) your ex who is paying it and living in the house. It will have to be a done from scratch and he will have to satisfy all their requirements before it is agreed. Until then you will still be liable should he default.

[Trudi53]

ty Dave50, he has been paying all the time and even paid an extra 20K off of the mortgage

[hc4361]

Is there any equity in the property that you are entitled and want?

As already stated, your ex will need to satisfy the lender that he earns enough to afford the mortgage. It doesn't have to be the current lender although you should both speak to the lender first.

[Buenchico]

As Ubasses indicates, you remain 'jointly and severally' liable for the debt. That means that if your ex was to default on the payments the lender could (if they so chose) pursue you for the money (either alone or together with your ex).

The lender will only offer a new mortgage to your ex if he meets their stringent tests for one (including, obviously, the level of his disposable income). If he doesn't (and you're to prepared to keep your name on the mortgage) then the property will have to be sold, either voluntarily or through you taking legal action to force him to sell.

[dancermo]

Hmmm , I would doubt that the mortgagee will limit their legal rights by allowing you to leave your legal obligation, in this property.
I would suggest that your ex partner should apply for a new mortgage, thus paying off the old mortgage. hope this is of assistance.