Divorced Mortgage Help

21
Found 2nd Oct 2017
Hi guys, I am sure there must be some people in my situation , therefore i really need some advice. I am divorced and i cant get a mortgage because my name on the other mortgage. she cant buy me out because she works part time.i rang the bank to take my name of the mortgage but they say not possible because she cant pass affordability payment. and i cant get another mortgage my name on the mortgage. can someone please advice me , i really need help
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.MUFC.57 m ago

Only option is to sell up and split, You pay half, She pays half.


Wrong.

Get back together.
21 Comments
Talk with your ex about selling the property.
It's about the only option you'll get without she can get someone else to take on the mortgage with her.
Until she can cover the mortgage herself you will be jointly liable. Did you not have any financial agreement in place when you divorced, normally this type of agreement is the first thing the solicitors try to get agreed.
I'm afraid you can't just take your name off a mortgage, it is a debt you are liable for. If you apply for another mortgage, the lender will take into consideration any other liabilities you have before deciding how much they will lend. You will have to sort out the existing debt before you apply for a new one. Was there any arrangement made when the divorce was finalised ?
Only option is to sell up and split, You pay half, She pays half.
.MUFC.57 m ago

Only option is to sell up and split, You pay half, She pays half.


Wrong.

Get back together.
Take on all of the mortgage and then sell up?
Sell up now and split the proceeds.
You really need to look at the financial settlement when you divorced, or have you just divorced without the financial settlement?
If the latter, do it today and then the house problem will get sorted.
if you are divorced, you should have settled the mortgage. i assume that you are going through the process and has not yet got the settlement issued? if you are tied into the existing property then you won't be able to get another mortgage unless you have enough income to cover both mortgages.
dataload4 h, 59 m ago

Wrong.Get back together.


Lol bet they'd never think of that
Original Poster
windym11 h, 54 m ago

Until she can cover the mortgage herself you will be jointly liable. Did …Until she can cover the mortgage herself you will be jointly liable. Did you not have any financial agreement in place when you divorced, normally this type of agreement is the first thing the solicitors try to get agreed.


no we didn't.nothing at all
Right, you need to sort this out now. Although you're divorced you're still liable for each other's debts and assets, you need to untangle all finances from each other.
If iyou take on the mortgage and house prices go up, your wife can come back at anytime and claim half the house that you have been paying for. That's just an example but could also be any asset you buy in the future including a new property. You also need get in writing that she will not claim spousal maintenance.
bilo52 m ago

no we didn't.nothing at all


as toptrumpet said, you need to agree a financial settlement through the courts. i did not think that you could get a divorce without one
Original Poster
mutley130 m ago

as toptrumpet said, you need to agree a financial settlement through the …as toptrumpet said, you need to agree a financial settlement through the courts. i did not think that you could get a divorce without one


we definetly divorced..should i go mediation first?
bilo7 m ago

we definetly divorced..should i go mediation first?


You're divorced. It's a bit late for meditation
Original Poster
chocci34 m ago

You're divorced. It's a bit late for meditation


can mediation not helps with financial side?
When you say you are divorced, have you had a decree nisi or absolute? Which stage are you at?

It is important you know what stage of your divorce you are at.
bilo4 m ago

can mediation not helps with financial side?


Can't you speak to her without paying for mediation?
Why were your assets and debts factored into the divorce proceedings, if your name is one the title deeds of the house, I assume it is as u are on the mortgage, go speak to a solicitor and move for the house to be sold and proceeds split.
Mediation is to try and resolve any problems in a relationship before divorce is the only true option.
You need to both come to an agreement, if you can't then you'll have to get solicitors involved which is very very costly.
have a read through this website Co-op to make sure you understand about splitting assets and the perils of not getting the financial settlement legalised
Original Poster
Toptrumpet20 m ago

Mediation is to try and resolve any problems in a relationship before …Mediation is to try and resolve any problems in a relationship before divorce is the only true option.You need to both come to an agreement, if you can't then you'll have to get solicitors involved which is very very costly.have a read through this website Co-op to make sure you understand about splitting assets and the perils of not getting the financial settlement legalised


thank you very much
Just for clarification everyone, you can get a divorce without any financial settlement. (For example: short length of marriage, no children, no assets)
You can even get divorced online now without either party attending court.
We need to give op advice on how to come to some arrangement with his ex-wife.
Toptrumpet59 m ago

Just for clarification everyone, you can get a divorce without any …Just for clarification everyone, you can get a divorce without any financial settlement. (For example: short length of marriage, no children, no assets)You can even get divorced online now without either party attending court.We need to give op advice on how to come to some arrangement with his ex-wife.


i really like the online divorce where you don't have to attend
as far as i am aware, divorce is very difficult to attain, marriage is very easy, but divorce, you are talking a different ball game
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