Hi All,
My ex and I bought a house via the Shared equity scheme. We don't have to pay them back until 10 years time thank goodness.
We have recenlty seperated and I have taken on the mortgage payments on my own as well as bills etc. I can easily afford this.
The worry I have is come November when I will be removing his name from the mortgage is that the bank won't accept me paying it on my own. The loan amount is £131,550 repayment mortgage at a fixed rate of 3.49% for a period of 24 months (expires November).
Do you think that they will come to some sort of agreement with me if I can show I have no other debts but the mortgage? I really don't want to lose the house. My ex just wants his name removed from the mortgage and deeds and wants nothing for it.
The house was worth £163,995 minus the shared equity £24,599 and deposit £5,846. I know I'd make a loss if I was forced to sell. :( Any advice or at least a glimmer of hope would be much appreciated.
My parents are happy to guarantee the mortgage if needs be.
My ex and I bought a house via the Shared equity scheme. We don't have to pay them back until 10 years time thank goodness.
We have recenlty seperated and I have taken on the mortgage payments on my own as well as bills etc. I can easily afford this.
The worry I have is come November when I will be removing his name from the mortgage is that the bank won't accept me paying it on my own. The loan amount is £131,550 repayment mortgage at a fixed rate of 3.49% for a period of 24 months (expires November).
Do you think that they will come to some sort of agreement with me if I can show I have no other debts but the mortgage? I really don't want to lose the house. My ex just wants his name removed from the mortgage and deeds and wants nothing for it.
The house was worth £163,995 minus the shared equity £24,599 and deposit £5,846. I know I'd make a loss if I was forced to sell. :( Any advice or at least a glimmer of hope would be much appreciated.
My parents are happy to guarantee the mortgage if needs be.