Mortgage Advice

[connect]

Hi there, quick question about a mortgage issue, details as below;

Bought a house with my ex, which she put £20k into on a house valued at £150k, I paid legals, moving and various other costs. Once in I paid for mortgage, all cars, bills etc etc, so comfortably paid my way.
We have since split and she has moved the new fella in after a few months, they pay the mortgage and I have moved on with my new partner, so all happy so far.
But after nealy 18 months my name is still on the mortgage and will hinder me moving back onto the property ladder.

How do I get my name off the mortgage as neither party are in a rush to sort it, and the mortgage company are not bothered either.

Edited by connect on Thursday 7th January 10:03

[Ungarsee]

The process you need is a transfer of title which is basically transferring the mortgage over to your ex. The main issue here is affordability as it's not as simple as just signing a few forms and job done. Can your ex afford it in her own right? (as an idea use 4 times her gross annual income, but this will reduce if she has other debts outstanding e.g. loans, credit cards, HP etc ). First port of call should be your mortgage provider and also a solicitor as it is a legal process in a similar way to when you bought the property. Costs can vary between mortgage companies but it shouldn't be horrific and your solicitor will also charge circa £400 but don't quote me on that.

If she's refusing to allow you to transfer it to her name then that's a whole other ball game and you may want to head to your local citizens advice or solicitor.