I am recently divorced...even though I pay the full monthly amount of the mortgage my ex wants his name removed from the mortgage...he has agreed to no shares of the profit should I decide to sell if his name is removed...however I have an IVA on debts while still married and the banks have refused to remove him as I now have a very low credit score...can anyone advise?
I don't know if they can assist, but it might be worth having a word with a whole of market broker with experience of adverse credit applications. We have two who regularly advise on here: Ryan and Shaun. Their contact details can be found on their profile pages:
Hi Cath. I take it when you say the banks have refused to remove him you mean your existing lender? Have you spoken to them? It's often a catch 22 this because any lender will want to satisfy themselves that you can afford the mortgage on your own ACCORDING TO THEIR LENDING CRITERIA (I appreciate you may well have been managing to do so already in reality but these are the rules we live with). Effectively it means meeting the same criteria as if you didn't already have the mortgage - and the fact that you are also in an IVA will be an issue too. Whilst your ex-husband remains on the mortgage it's another person your mortgage company can hold responsible for meeting the repayments so they won't be in any rush to help.