FAQs
Can my ex make me refinance?
No, your ex can’t make you refinance the mortgage unless there’s a court order that requires you to do so. But if you want to keep the family home, you’ll usually need to refinance to remove their name from the loan agreement and take full responsibility for the mortgage repayments.
What if I can’t refinance on my own?
If you don’t qualify for a new loan your options may include:
- Negotiate with your ex to delay the refinance while you improve your financials.
- Guarantor loan (if you have a family member willing to help).
- Sell the property and split the proceeds.
- Talk to a mortgage broker to explore other lenders or loan structures.
Do I have to pay stamp duty when refinancing after divorce?
In most cases if the property transfer is part of a formal divorce settlement you won’t have to pay stamp duty when transferring ownership from a joint mortgage after separation into one name. But stamp duty rules vary by state so check with a lawyer or lender.
What if my ex stops paying the mortgage?
Until the loan is fully refinanced both names remain on the existing mortgage so both parties are still liable for payments. If your ex stops paying it can affect both of your credit scores. If this happens you may need to:
- Get legal advice to enforce any agreements around mortgage payments.
- Talk to your lender for temporary payment relief.
- Refinance as soon as you can to remove their name from the loan.
What if my ex won’t cooperate with refinancing?
If your ex-spouse won’t sign the documents to remove their name from the mortgage or finalise refinancing you may need a court order to enforce the terms of the property settlement. A divorce lawyer can help you with that.
Can I remove my ex’s name from the mortgage without refinancing?
Some lenders allow you to remove a name from a mortgage without refinancing but this is unusual. You usually need to show you can service the full mortgage on your own. A mortgage broker can help you check if this is an option.