My ex-husband has stopped paying a BTL mortgage

My ex-husband has stopped paying a BTL mortgage

9:48 AM, 19th October 2015, About 9 years ago 16

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7 years ago I put my name on a Buy to Let mortgage with what is now my ex husband (for the past 4 years).bills

I have never had any income from this property, as we agreed that he wanted no further interest in our mortgaged family home and that I wanted nothing more to do with the BTL property.

Three months ago my ex stopped paying the BTL mortgage and all his other liabilities eg. credit cards etc. He has passed no forwarding address onto the mortgage company, even though I have now given them his parents address as this is where he was staying.

As the mortgage company cannot contact him they are repossessing the BTL property and have told me that they will expect me to pay the deficit. I have always paid my liabilities in life, but he believes that he can just leave his behind for somebody else to pick up. I have since learned that the BTL property has been internally destroyed and that the flat is not worth half of what the mortgage is.

When my ex left we did sign (and had it witnessed) a piece of paper saying that we each held no further interest in each others property. I have a court order to say that he agrees to pay everything due for the BTL property and he has signed to agree this.

Because he has stopped paying this, I am going to end up with a repossession and a massive debt. I am wondering if anybody else has been in this situation and could offer any advice on what to do.

Many thanks

MG


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Comments

Harry Chunk

0:37 AM, 21st October 2015, About 9 years ago

Reply to the comment left by "MG Williams" at "20/10/2015 - 06:36":

I take it your flat is not in London or the Home Counties.

don haley

14:34 PM, 24th October 2015, About 9 years ago

if it was ordered by the court and you have a court order saying the property is to be transferred and you have no liability just because he did not sign documents the order will still be in force and he is in contempt of court and the courts will issue a warrant for is arrest to appear as to why he as disobeyed the court also no one can go against a court order if you used a solicitor for the divorce they should have seen all paperwork was in order if the agreement was just between you and him and you did not get it order by the court it can be over turned but again court order cannot judges do not like anyone who does not do as they order.

Badger

12:16 PM, 26th October 2015, About 9 years ago

The mortgage company may not be able to find him (not least because they may not have bothered to look too hard) but it is surprisingly difficult to completely "disappear".

There are companies that specialise in tracing people that have done a moonlight flit.

It might be worth speaking to a couple of them to see if they can help.

MG Williams

10:48 AM, 28th October 2015, About 9 years ago

Reply to the comment left by "Harry Chunk" at "21/10/2015 - 00:37":

Hello, the flat is in the North West, I have seen it and it needs a an unbelievable amount of work to repair it. I have spoken to the mortgage company on numerous occasions now and they have been very understanding. They have still not been able to contact my ex-husband. They are going to send voluntary repossession forms out and hopefully he will receive his and fill it in. This was the biggest mistake of my life, I just hope they can find him so as he can take his half of the deficit.

Harry Chunk

19:12 PM, 29th October 2015, About 9 years ago

Reply to the comment left by "MG Williams" at "28/10/2015 - 10:48":

Hi again. It is imperative that you avoid repossession. If you don't you will be responsible for the whole debt left after the repossessed property is sold. You are jointly and severally liable for the mortgage and any residual debt remaining after despite what the court awarded to you and your ex husband. Whatever you lose you will have recourse to him but if he has nothing what can you claim. Cheapest option for you is probably to take control of the property spend the money do it up and sell it or rent it. I fear allowing repossession will cost you dear.. You are going to have to call in all sorts of favours from friends and family I am afraid. As a very senior retired bank manager I know how they work.

Harry Chunk

10:56 AM, 30th October 2015, About 9 years ago

Reply to the comment left by "don haley" at "24/10/2015 - 14:34":

Sorry Don, in the nicest possible way, you're wrong. The lady is liable for that mortgage until the bank or building society releases her from it, despite what the court say. The court have ruled on a financial arrangement between the husband and wife but agreement from any lender is needed before it can proceed.

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