Hi there,
I'm wondering if anyone has any experience in dealing/negotiating with the banks in a similar scenario to this please?
The bank have agreed to let me sell my house, occupied by me, which will leave a substantial negative equity loan. (There has not been any indication how this will be managed once house is sold)
The mortgage is in joint names of myself and my ex. Ex is unemployed and has not contributed to mortgage repayments for a long time.
So, what I would like the bank to do is to split the loan into individual loans for both myself and my-ex. (Or even write his portion off..I don't care)
I want to take a portion of the loan as my own and manage repayments,
without any link to him going forward.
We will be eligible for divorce next year, so I really want to sever all ties before then.
I realise that this isn't something that will be offered to me, so I'm looking for ideas as to how I can achieve this.
Any help would be greatly appreciated.
Thanks,
Changling
P.S I understand the whole "Joint and several liable" clause but I really need a way out of this toxic situation.
I'm wondering if anyone has any experience in dealing/negotiating with the banks in a similar scenario to this please?
The bank have agreed to let me sell my house, occupied by me, which will leave a substantial negative equity loan. (There has not been any indication how this will be managed once house is sold)
The mortgage is in joint names of myself and my ex. Ex is unemployed and has not contributed to mortgage repayments for a long time.
So, what I would like the bank to do is to split the loan into individual loans for both myself and my-ex. (Or even write his portion off..I don't care)
I want to take a portion of the loan as my own and manage repayments,
without any link to him going forward.
We will be eligible for divorce next year, so I really want to sever all ties before then.
I realise that this isn't something that will be offered to me, so I'm looking for ideas as to how I can achieve this.
Any help would be greatly appreciated.
Thanks,
Changling
P.S I understand the whole "Joint and several liable" clause but I really need a way out of this toxic situation.