Hi,
Back in Oct 1990 I entered a mortgage agreement with my then wife, this was under a 75% equity scheme. In 1999 my wife and I split and she was left with the flat and our four year old son. In 2000 we had to rearrange the mortgage so we can repay the 25% equity we owed to the builders. It is now 2013, I have a fiancee, a 15 month old son and a mortgage on a property I'm not living at. My fiancee and I live in a one bedroom house and desperately need to move into a bigger property for our sons sake. I am still named on the mortgage with my ex wife and the Bank (Halifax) say they cannot remove me from this as on paper my ex wife doesn't earn enough. I innitially paid the mortgage for the first five years then my ex wife has been paying it ever since.
My financial situation is not great at the moment anyway as I have a debt management scheme in operation with Gregory Pennington. Currently owing £7'800 and paying £97 a month this is forcast to last 12 years approximately.
Any advice on removing my name from the current mortgage would be greatly recieved.
Many thanks.
James
P.s. Hope this all makes sense as I'm not very clever with finances or explaining things. :(
Back in Oct 1990 I entered a mortgage agreement with my then wife, this was under a 75% equity scheme. In 1999 my wife and I split and she was left with the flat and our four year old son. In 2000 we had to rearrange the mortgage so we can repay the 25% equity we owed to the builders. It is now 2013, I have a fiancee, a 15 month old son and a mortgage on a property I'm not living at. My fiancee and I live in a one bedroom house and desperately need to move into a bigger property for our sons sake. I am still named on the mortgage with my ex wife and the Bank (Halifax) say they cannot remove me from this as on paper my ex wife doesn't earn enough. I innitially paid the mortgage for the first five years then my ex wife has been paying it ever since.
My financial situation is not great at the moment anyway as I have a debt management scheme in operation with Gregory Pennington. Currently owing £7'800 and paying £97 a month this is forcast to last 12 years approximately.
Any advice on removing my name from the current mortgage would be greatly recieved.
Many thanks.
James
P.s. Hope this all makes sense as I'm not very clever with finances or explaining things. :(