Change of parties

Hi I''m desperate for some help as I really am at the end of me tether. My husband is named on his ex wife''s mortgage, has no legal interest in property and transferred the deeds of the house to his ex(I know how stupid) but agreed to stay named on the mortgage in order for his kids not to have to move and her lose the house. This was 5 years ago and since then she has got a new boyfriend who is living with her and they have 2 kids together, but are in £2500 in arrears on the mortgage and my husband cannot have his name removed until these are cleared, and when he tried to take his name off via change of parties form 2 years ago it was declined due to her Boyf not working and her low income. Me and my husband have tried to set up our own business and are finding it extremely difficult because as she misses payment each month it is another default on his credit score she has since stopped him seeing his kids so we are paying to go through courts to get access. I am really struggling and don''t know what to do. I don''t want to leave my husband but I am so depressed and in despair that I don''t know what else to do. Northern rock have said they won''t accept a change of parties until arrears are cleared but the ex has only loaid £200 off since may this year.she has told my husband he will come off the mortgage when she is good and ready!! I feel there is nowhere to turn, please help with any advice if you can. X

Well I am not surprised that you are wholy and totally depressed and that the circumstance you describe is putting a huge strain on your relationship - you are not a saint unless you tell me otherwize so I am not at all surprised.

I do not know whether you will get any comfort or not from knowing this but this is going to become an increasingly common feature of society in the very near future.

Northern Rock is one of the banks first rescued in the collapse of the banks in 1998 - followed shortly by various others most notably The Bank of Scotland.

Scare tactics both from the bank and from your husbands ex and new partner. That may not sound very re-assuring to you right now. HOwever, there are sensible things that you personally can do to protect yourself from your husbands ex wifes debt.

You would need to take legal advice but one of the things that maybe you should consider is having your house as tennents in common rather than joint tennancy as then Northern Rock could not put a charge on your part of the house for your husbands apparent debt.

I think the person to ask for an initial view is LittleMrMike.

I also think that you and your husband should also seriously consider getting a divorce by mutual consent, I know that sounds very radical but the rights of married people are very much different from the rights of unmarried people as you are experiencing to your own personal cost.

It does not mean that you can not still co-habit out of need (like your husbands ex) but it does change the circumstance considerably as jointly owned property cannot usually be seized by a debt order (by the bank in this circumstance) as you cannot seize property which is jointly held by two individual parties - it is different if the parties are married.

It sounds to me like the relationship is so strained at the moment that a separation/divorce is being contemplated anyway. In doing so you might make it easier for you both. The world and the Law evolves so fast it is hard to keep up, old saying buyer beware springs to mind.