Hi,
I've looked for a similar situation in previous posts, but cannot find anything that matches.
Here's the scenario:
My ex partner and I took out a 100 % mortgage with PTSB in early 2006 for €320,000
I split with my partner in early 2008, where I agreed to take over the repayments on the mortgage (my partner was not in a position to pay the mortgage and moved out).
I have paid the mortgage in full by myself since early 2008, as can be confirmed by bank statements.
I spoke to the bank in early 2009, inquiring about how I could take my partner's name off the mortgage. They said it wasn't possible. I would essentially have to reapply for a mortgage in my own name, the size of which I couldn't afford on my own given the bank's revised criteria at the time!
I've heard there were options regarding replacing my partner with someone who could go guarantor, but this is not an option for me either.
Now, for over 2 years, I've been renting 2 rooms in the house consistently and have a full record of paying the mortgage on my own. The house is now in negative equity to the tune of about €60,000.
It's a bit of a long shot, but are there any other options as to how to get my partner off the mortgage, present or near future?
At the moment, the only option I'm aware of is to wait until the mortgage is small enough [and not in negative equity] for me to re-apply in my own name for it, which will take a very long time.
Thanks,
Digweed
I've looked for a similar situation in previous posts, but cannot find anything that matches.
Here's the scenario:
My ex partner and I took out a 100 % mortgage with PTSB in early 2006 for €320,000
I split with my partner in early 2008, where I agreed to take over the repayments on the mortgage (my partner was not in a position to pay the mortgage and moved out).
I have paid the mortgage in full by myself since early 2008, as can be confirmed by bank statements.
I spoke to the bank in early 2009, inquiring about how I could take my partner's name off the mortgage. They said it wasn't possible. I would essentially have to reapply for a mortgage in my own name, the size of which I couldn't afford on my own given the bank's revised criteria at the time!
I've heard there were options regarding replacing my partner with someone who could go guarantor, but this is not an option for me either.
Now, for over 2 years, I've been renting 2 rooms in the house consistently and have a full record of paying the mortgage on my own. The house is now in negative equity to the tune of about €60,000.
It's a bit of a long shot, but are there any other options as to how to get my partner off the mortgage, present or near future?
At the moment, the only option I'm aware of is to wait until the mortgage is small enough [and not in negative equity] for me to re-apply in my own name for it, which will take a very long time.
Thanks,
Digweed