Trying to get off a Mortgage - any advice welcome

[RJH]

I'm wondering if anyone can offer any advice to me as I'm looking at ways to come off a mortgage that I've been on for over 10 years now.

The basics of it are:

- Mortgage is around 11-12 years old
- Mortgage on a property that I have with my ex-partner who I share a daughter with
- Debts on the mortgage have now been consolidated onto the end of the mortgage (so no 'debt' so to speak, as I understand it)
- Ex-partner lives in the property with her husband and other 3 kids
- They pay the mortgage

Happy to answer any questions required to get any help possible - the end game for me is to come off the mortgage in whatever way might be possible.

Thanks in advance for any help and / or advice.

[atticus]

As and when the property is sold, which may be some years in the future, will you want a share in the equity?

[RJH]

atticus it would be nice, however, that isn’t my main concern. My main concern is getting my name off the mortgage altogether as it’s the only thing holding me back from being able to live my life properly. Happy to just be off it with nothing due to me if it’s easier to go down that route.

[atticus]

You are almost certainly "on the mortgage" because you are a co-owner of the property. As such, you and your former partner (I guess she is the other co-owner) will have borrowed money by way of mortgage loan to buy the property or remortgage.

If you are prepared to transfer or sell your interest to your ex, then that may offer a way forward. Otherwise, remaining a co-owner will likely involve remaining "on the mortgage".

[RJH]

atticus yes, that is correct.

To potentially get things moving I guess it’s simply contact the mortgage lender and ask my options?

[atticus]

Or your ex, to try to agree a sale or transfer of your interest in the property to her.

[dslippy]

You will be on te mortgage because you borrowed the money (are liable fore the loan). You will stay that way until the loan is repaid. If necessary another loan is taken out (by your ex) to repay the existing loan. This would usually be as part of her buying you out.

[RJH]

Or your ex, to try to agree a sale or transfer of your interest in the property to her.

We have no contact unfortunately, so it's a little messy. That said, I've sent a letter off to Halifax today so hoping for a response soon and then I'll take it from there.

Thanks for the advice up to now.

[RJH]

You will be on te mortgage because you borrowed the money (are liable fore the loan). You will stay that way until the loan is repaid. If necessary another loan is taken out (by your ex) to repay the existing loan. This would usually be as part of her buying you out.

Thanks for the info.

RE: Buying me out, not necessarily looking for anything out of it. The main objective is to get off the mortgage it at all possible. Money is secondary.

[atticus]

You know where she lives, so you can write a letter.

You are going to need to involve her, as the Halifax will tell you.

[RJH]

You know where she lives, so you can write a letter.

As simple as that is, I wouldn't have even considered it. Sometimes the simplest things don't think of! I will write a letter to her detailing what my plans potentially are, and to advise that I am liaising with Halifax too.

[RJH]

atticus I'm back. I contacted the Halifax to explain what I was looking to do, and they have communicated back to me to say that it is up to the other party to start proceedings in terms of looking to arrange the mortgage so that it is her and her husband on the mortgage.

Having thought about it from before, I would like something out of the property were it to be sold, more so because it was all of my money that was put in in the first place.

I guess what I'm trying to find out now is if I write to my ex-partner to explain my thoughts, and also the details of what Halifax have told me, and she refuses to cooperate, where would I stand in trying to obtain a forced sale? Of course, that would be my last resort but I'm trying to cover all potential outcomes.