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Joint mortgage
#1
Separated from ex last August. She moved out and I stayed in family home. She contributed none to a joint mortgage. There are no communication between us( I tried but she refused so I stopped). Fixed mortgage coming to an end and I cannot fix it anymore as it would need her to sign the documents. That means interest will variable and I will end up paying £400 more than what I am currently paying in interest. I tried to speak with the bank but they can’t help.
Has anyone else been in this situation before? Is there anything I can do?
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#2
Depends how much equity is in property for yourself when deciding what to do. How much u owe etc
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#3
There wasn’t a lot of equity but there is now as I spent almost 100k to renovate the place after she left.
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#4
I did the same as you and stayed in the house. At the end of my deal i had to remortgage to and get a new deal to get my ex off the mortgage altogether.

Speak to mortgage advisor and get a new deal in place in your name and then the paperwork will need to go to your ex to sign so she will come off the mortgage but will come from the solicitor and lender and not directly from you. Hopefully it will be a fairly painless process
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#5
The issue with essentially buying her out and removing her from the mortgage term is whether the bank feels you will be able to meet the monthly financial mortgage commitment yourself. The current mortgage product accounts for both of your incomes I imagine given she is a joint holder.

It all depends on how much equity she is after and whether the outstanding loan value is small enough for the lender to transfer it into your sole name.
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#6
As there is no communication between us I haven’t heard anything in regards with what she wants as settlement. My guess is she wants to destroy and take every penny I have from me. I had a letter from her solicitor that she has applied for a divorce and I was threatened to serve paperwork in person. Depends how much she wants I am more than happy to buy her out but I am sure it won’t be easy. My main focus unlike her is children.
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#7
I'm in similar situation and my only option now to sell as can't afford but her out or get a mortgage on my own. Annoying thing is as her name still on mortgage I have to give her half equity even though she hardly paid a penny as we split up in first year of mortgage, so 5 years later it hit me, gutted tbh
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#8
Was this part of financial settlement? It doesn’t seem fair that she hasn’t contributed in 5 years and actually put you in financial difficulties and still walks away with half of equity.
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#9
At time we had a quick divorce and didn't sort out finances, big mistake sort of mutual friends then now we don't talk. The house at time was on negative equity but now it in equity and I can't get a mortgage on my own on it at time so her name was on it. Now found out she entitled to half equity. I seek solicitor advice to see where I stand but, it could get even more complicated if I fight it.
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#10
I would definitely talk to a solicitor before giving half of equity away. I was wondering if the house was in negative equity your ex would pay her share?

Luckily I had mine valued just before separation and I know what outstanding mortgage amount so hopefully ex won’t benefit from renovation I did on the house.
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