UB tracker mortgage, want my ex partners name off

Discussion in 'Issues with tracker mortgages' started by Kakasparkie, Feb 10, 2017.

  1. Kakasparkie

    Kakasparkie New Member

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    2
    hi everyone!
    I'm new to this . Hopefully someone can help.

    I have a tracker mortgage UB with my ex partners name on. We bought the house back in 2008. We broke up since 2011.
    I'm the one take over the mortgage repayment myself. We agreed between us he moved out and I stayed and pay the mortgage.this effective since 2012.( he stopped payment since 2012) we had a proper letter saying that he is no longer paying the mortgage since 2012 and has no interest in the house) its all signed.- for our own record.

    We tried to speak to the UB and want his name off. They said I have to re apply a new mortgage on my sole name. However, I'm afraid I can't due to I only have part time employment. But I can afford to pay in full payment since 2012 , all by myself no missed payment. Anyone know if the bank will let me take off his name but keep the tracker? As I wonder if they will give me new mortgage, I don't think I can be able to afford the repayment as it could be increased from 750 to 1000 or even more as I might lose my tracker. What I should do?

    Any advice?

    Fran
     
  2. Brendan Burgess

    Brendan Burgess Founder

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    31,818
    There really isn't anything you can do.

    Your ex is liable for the mortgage. If UB takes his name off the mortgage, their security will be weakened.

    Ask you solicitor if it's possible to have his name taken off the title deeds while remaining on the mortgage.

    Brendan
     
  3. Kakasparkie

    Kakasparkie New Member

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    2
    Thanks for your reply Brendan .
    I just made an appointment with UB and see what they say.
    I also asked my solicitor he said both deed of mortgage n deed of transfer need to be consent by UB.
    Finger crossed.
     
  4. Sparco80

    Sparco80 New Member

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    2
    Hi everyone! I am unfortunately in a similar situation - however - I have a joint mortgage with sole title deeds in my name. Him staking a claim on the house is not relevant to us either luckily and he has no requirement to come off mortgage until he is in position to buy his own house anyway. But 9 years post split I would like to get things sorted!

    Mortgage is 10 years old and a tracker. I called UB and was told to remove my ex and replace with my husband is a new mortgage and tracker will be gone. As I won't proceed with this, I asked for any other solution to remove the name without changing my loan.

    I was told to get a court order via the solicitor to remove him and post it in to the Leopardstown office. I asked would I need to provide any further documents myself in order to remove the name and keep mortgage exactly as is, and was told no, just court order so he could be removed by them.

    When I called a solicitor for advice she told me this is complete BS and that the bank will reply telling them they cannot set terms on their lending via a court order. Does anyone know more on this situation? Was it bad advice from the UB mortgage specialist? Do I just take him at his word and send Court Order so that they will just remove name and not want to re-evaluate house value/my finances?

    Thanks in advance for any help - beyond my wits end right now!!
     
  5. Monbretia

    Monbretia Frequent Poster

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    Did they do any underwriting re your income and the outstanding loan? If they didn't then it is total BS, I don't know whether they will take him off if given the court order but there is not a hope of them doing it if they have not even checked that you would qualify for the loan on your own income.
     
  6. Sparco80

    Sparco80 New Member

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    2
    Hi Monbretia thanks so much for replying, the guy didn't even ask what the house was worth and what wage I was on, just re-mortgage or court order. Thought it sounded far too easy. How they are allowed to throw out comments like that is beyond me!

    I see a case study on here that is similar to mine where someone kept tracker and replaced joint mortgage name with UB by paying the NE. I have no NE, just over 10% LTV and could pay off a large chunk to increase this if necessary. If they allowed for one case is it worth me pursuing or am I flogging a dead horse?

    Thanks
     
  7. Monbretia

    Monbretia Frequent Poster

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    I would pursue it in the hope that it might work!

    Realistically UB can take a name off no problem, however of course they don't want to as if they say no then you may end up having to take out a new mortgage and then lose the tracker, see how they might prefer that!

    Have you tried the mortgage advisor in a local branch? Is your income going to be sufficient for the loan, remember they will stress test too so it's not a case of being able to pay the existing payments. I would concentrate on getting his name off first, it that is successful then you can add husband's name but that is not even a necessity. But if you need husbands income to qualify for the mortgage at the moment then you are in trouble because they will definitely insist on a new mortgage then.

    Try and get them to underwrite it based on your income and value, then if they say your income is insufficient you can offer to pay off a chunk and see if that brings you within the guidelines, I wouldn't mention that upfront until you see what their attitude is.
     
  8. Bronte

    Bronte Frequent Poster

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    11,971
    Sparco did the bank give that advice re the court order in writing?