joint mortgage problems

adf18uk

I took a 125% joint mortgage out with a friend 2years ago, with both of us owing 50% each. After the 1st year they moved out of the property and have paid nothing towards the mortgage or the loan since.

I have recently approached them asking them to pay their share of the loan off and also sign the property over so that it is soley in my name.

They have point blank refused saying that they will pay me the money they owe for the last 12 months and move back in. This is causing me a lot of stress, and i am desperate to find out if there is a way that i can stop him moving back in and get the house into my name, hopefully with them still being liable for their share of the loan.

Is there any way i can get him out of my life?

Ian_Griffiths_Halifax

Unless you can raise enough money to buy him out through other sources, I think you may be stuck with him I'm afraid.

If you don't let him back in and let him pay you up to date, then he might take his bat and ball home and pay you nothing.:eek: If he did that, unfortunately although he only ownes half of the house, you are both 100% liable for the mortgage.

~Beanie~

adf18uk wrote: »

This is causing me a lot of stress, and i am desperate to find out if there is a way that i can stop him moving back in and get the house into my name, hopefully with them still being liable for their share of the loan.

There is no chance of you getting the house in your name but expecting your friend to still pay half of the loan!

How much is the house worth, are you in negative equity at all?

Do you earn enough to take over the whole mortgage on your own?