Seperated - legal agreement for the mortgage
Discussion
I went through a divorce a couple of years ago and as part of the consent order I had an 'under taking' to be responsible for our joint mortgage until such time I could get her taken off but in the mean time the undertaking meant she would not be liable if I didn't pay the mortgage payments but also she wouldn't benefit from an increase in value.
I am now with someone else and she has her name on her ex's house and we're trying to do the same (no divorce or assets to split).
It is not possible to use my solicitor as he has left the practice and I am now in merseyside. Every solicitor she has phoned has no idea what she is talking about and won't entertain the undertaking and suggest going through the mortgage company but doing this could jeopardise her ex's position as I don't think he'll be able to get a mortgage solely on his own - plus there are kids involved so we don't want him homeless and having nowhere for the kids to visit on his day.
We have had a scare recently where he has fallen behind on payments so need to get this sorted sooner rather then later.
I am now with someone else and she has her name on her ex's house and we're trying to do the same (no divorce or assets to split).
It is not possible to use my solicitor as he has left the practice and I am now in merseyside. Every solicitor she has phoned has no idea what she is talking about and won't entertain the undertaking and suggest going through the mortgage company but doing this could jeopardise her ex's position as I don't think he'll be able to get a mortgage solely on his own - plus there are kids involved so we don't want him homeless and having nowhere for the kids to visit on his day.
We have had a scare recently where he has fallen behind on payments so need to get this sorted sooner rather then later.
If your / your partners name is still on the mortgage then undertaking or no undertaking if the Ex defaults the lender is going to come after who-ever has the money, and it's going on the credit records.
The undertaking is all very well, but ultimately if the ex can't pay the mortgage, why would they be able to honour the undertaking.
Sounds like a waste of time and money to me.
The undertaking is all very well, but ultimately if the ex can't pay the mortgage, why would they be able to honour the undertaking.
Sounds like a waste of time and money to me.
surveyor said:
If your / your partners name is still on the mortgage then undertaking or no undertaking if the Ex defaults the lender is going to come after who-ever has the money, and it's going on the credit records.
The undertaking is all very well, but ultimately if the ex can't pay the mortgage, why would they be able to honour the undertaking.
Sounds like a waste of time and money to me.
So why would my solicitor have done it as part of my divorce, have it stamped by the same judge that stamped the consent order if it wasn't legally binding? The undertaking is all very well, but ultimately if the ex can't pay the mortgage, why would they be able to honour the undertaking.
Sounds like a waste of time and money to me.
falkster said:
So why would my solicitor have done it as part of my divorce, have it stamped by the same judge that stamped the consent order if it wasn't legally binding?
Surveyor is correct.The divorce court has no power over the mortgage provider and their recourse to both debtors.
What the Consent Order does is enable your ex to take you to court to recover any payments the mortgage company have to obtain from her because you haven't paid them.
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