Bought house with Ex in 2007, can't get my name off the mrtge. What are my options?

3

321Right

Registered User
Messages
3
I need some advice please!


I bought a house with an ex-partner in 2007, we split up in 2010 and he has been living in the property ever since. Since we broke up he has been dealing with the EBS directly and telling me that they will only take my name off the mortgage once he is earning over a certain amount. I was very naive at the time and trusted his updates and that he was keeping up to dates with his payments (in hindsight I learnt this was a bad idea)

Long story short, he fell being on payments and my credit rating has suffered as a result.

Since learning this I have been with a solicitor and explored all the avenues, however there seems to be no short term solutions for this. My ex is now making payments to the EBS however it could be a very long time before I will be let off that mortgage.


Other factors, I have no dealings with my ex expect through the solicitors, we believe the property is in negative equity (I do not have a recent valuation – but using daft as a guide) my ex doesn’t want to sell the property.


I bought this property when I was 19, now I am 30, have a good job, I am in a stable relationship and would like to buy a family home. My current partner is on a lower salary than me (ME 55K HIM 32K) I have no other debts, credit cards, or car loans.


Taking into account all the above facts, is there any way I could get a mortgage today? Alone or jointly with my new partner? What would be the best way to go about it?

*note* we have €20K saved up for a deposit for a new home.

I appreciate any advice, apologies if I am missing any key information – please request if needed.
 
Last edited:
It's a tough one.

There really isn't any practical solution to this.

You are liable in full for the mortgage. If he doesn't pay, they can come after you.

They are not going to let you off the mortgage, given that he has had a problem in the past.

The good news is that you own half the house. He won't be able to sell it without your permission. If he tries to sell it in 10 years when there is plenty of equity, you can demand half the net sales proceeds.

So I would recommend that you point this out to him. It is in his interest as well as yours to make sure that he gets your name off the mortgage as soon as possible.

321Right said:
I am in a stable relationship and would like to buy a family home.
Click to expand...

If you do buy a house, make sure to do a written agreement on what happens if you split up.

Brendan
 
I know my ex wants my name of the mortgage, it is just a case it might take a very long time until he has paid down enough of the mortgage or is earning sufficient to take it over on his own.

Would any banks give me and my partner a joint mortgage considering my mortgage with my ex?
 
Last edited by a moderator:
Would the following scenario be advisable?:


My partner takes the mortgage out on his own uses “our” (mostly mine) deposit and takes advantage of the FTB and we have a cohabitating agreement which would grant me % ownership/rights of the property in case of breakup/death etc.


In this case would a cohabitating agreement be strong enough to protect me?


Would being married in this case help my predicament?


Again, thanks so much for all the advice.
 
If your partner can get a mortgage in his own name, then that would be the best solution. But with a salary of €32k, he will get only around €100k. You will need a side-agreement about the ownership.

I don't think a cohabiting agreement would make any difference.

I don't think that being married would help you. He would not get the Help to Buy Scheme if he buys it with you - married or not.

Brendan
 
You must log in or register to reply here.
Back
Top