Can I get a mortgage in my name when I am still named on joint mortgage with ex-partner?

Question

Not financially viable to sell the joint property at the moment and my ex is unable to buy me out. I want to get back on the property ladder as soon as possible as i am currently renting. My ex is covering the mortage payments on the joint property.

Answer 1

Anyone can have more than one mortgage (on different properties) as long as their credit is good enough for them to be accepted for the loan. Think of people who own more than one house - some of them have to be mortgaged.

It's just hard to convince a lender that you are financially capable of handling more than one mortgage.

Answer 2

Yes. You have to have your ex-partner sign a "quit-claim deed" that releases all of their interest in the property, and then you can successfully close on a real-estate loan on said property. There are several forms available online. You will need the legal description of the property and the form will also have to be notarized.

Answer 3

Yes you can as long as it is on a seperate property. You cannot have 2 mortgages on the same property but you can have as many as you like on different ones. Always decalre what you have in the first instance as they will find it when they credit score you.

Answer 4

Nope, or at least you'll find it very hard. Try and get your ex to buy you out, or get something written up to say that you are no longer financiallly liable for that house....some mortgage companies would accept this.

To be honest, why would you want to tie yourself down again with someone else, when you still haven't sorted out your previous issues?

Answer 5

no,you have to get your name taken off there's, then get one in your name. Unless you are still getting money from their business, then you could have two mortgage's.

Answer 6

If you have the income, they lend thats it.