Refused mortgage because my name is still on an old pre-divorce mortgage

ShaneCusack

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If I give authority to my ex wife's solicitor to transfer title deeds into her name will my name still be on the motgage. I also signed deed of waiver when we legally separated. I am trying to get a mortgage for myself and my new family but I cannot because ICB credit check links me to the old mortgage that I took out with my ex wife in 2005 but which I have not had anything to do with since 2013. How do I separate myself from that mortgage. Thanks
 
Presume you can’t unless she can obtain a mortgage in her sole name and have you removed. It’s unusual to sign all rights away to a property yet still be financially liable?
 
Luckystar, thanks. I guess I'll have to ask her to try to get my name off the mortgage and into her name only. Thirsty, thank you, first time posting, I know what to do in future.:)
 
Yes your name will be still be on the mortgage until the bank allows it off regardless of what you do with the deeds, which would depend on whether she can qualify for the mortgage amount based on her own income like a new mortgage.
 
If I give authority to my ex wife's solicitor to transfer title deeds into her name will my name still be on the motgage. I also signed deed of waiver when we legally separated. I am trying to get a mortgage for myself and my new family but I cannot because ICB credit check links me to the old mortgage that I took out with my ex wife in 2005 but which I have not had anything to do with since 2013. How do I separate myself from that mortgage. Thanks

Are you divorced? Or separated?

Was there a Court order made? Was it on a contested or non contested basis?

Was there a settlement agreement?

Reading between the lines- and the OP is the only who can fill in the gaps- there was no final agreement as to what was to happen to what, we assume, was the former family home?

If the mortgage was taken out in 2005, it is likely to have been quite substantial and can we assume that the ex wife would/did not get mortgage approval to take over the mortgage in her sole name? But is continuing to pay it solely?

The default position, if all the above assumptions are correct, is that both names remain on the mortgage , both are liable even if one person only is paying and the OP won't be able to "separate" himself from that mortgage.

mf
 
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MF1. All of your assumptions are correct apart from the mortgage being substantial. We bought in Dublin 10 which was never overly expensive. I was separated in 2014 and divorced earlier this year. Yes she is paying it by herself. I signed deed of waiver and when my divorce came through, gave permission to her solicitor to transfer the title deeds into her name. I contested nothing, wanting to have a clean break and not cause any unnecessary hardship. Anyway, I have since realized that what you say is correct and that my name is still on the mortgage regardless of what I have signed over concerning deeds etc. Thanks all for your comprehensive answers.
 
When you say you cannot get a nortgage, do you mean you can't get the amount you are requesting ? A lot of people have more than one mortgage. If the amount still outstanding isn't huge maybe lower your expectations.
 
Elcato, the EBS won't approve me for any mortgage because I m technically still liable for the first mortgage, which is fair enough really. I have been advised to engage a solicitor to start the process of getting my name off the mortgage.
 
Don’t think a solicitor is much use to you. You need to ask your ex if she’s willing to request the bank to take your name off the mortgage. They’ll only consider this if her income comes within the guidelines for the amount outstanding on the mortgage.

Some banks can apply for exemptions - might be worthwhile exploring other banks.
 
I think I know what has happened. My ex also signed waiver in our divorce to say that the house would be solely mine and he could not benefit from it but it states in the divorce order that this can only happen when the bank see fit to take him off the mortgage. Thankfully last year I qualified to take the mortgage over into my own name and subsequently got his name off the deeds but until your ex is offered a mortgage in her own right then you will be on that mortgage until the mortgage company removes you. Ask your ex to discuss a transfer of equity with the bank which is essentially a new mortgage to buy out this one but all done internally. If she has proof of paying on her own the past few years then they may allow it.
 
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