Our lender says I can't take over the whole mortgage because my credit rating is not good enough. The ex says if she cannot come off the mortgage the flat must be sold at once. Is there anything you can suggest?
Answer: Criteria for lending have changed over the past few years and now the requirements of lenders are often difficult for their borrowers to satisfy. It may be worth having another discussion with your lender, but if that is unsuccessful try contacting another lender, a good independent mortgage adviser, or your bank.
Another lender may have less stringent requirements or may be more understanding of your position — and the increase in your earnings should help.
As the mortgage is in joint names you and your expartner are jointly and severally liable for the mortgage. If you were to stop making the monthly mortgage payments your lender would be perfectly entitled to pursue your ex as well as you for payment.
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If you have a question for Fiona McNulty, email email@example.com. We regret that questions cannot be answered individually.
Fiona is a partner in the residential real estate team at Thring LLP (www.thrings.com).
These answers can only be a very brief commentary on the issues raised and should not be relied on as legal advice. No liability is accepted for such reliance. If you have similar issues, you should obtain advice from a solicitor.