Seperation.......dont know what to do for the best with the house?????

Debt_Free_Chick

I can't see any problem with your ex-partner's friend moving in with your ex. The friend would be a lodger - there would be AST and he would not acquire any interest in the house.

Seems like a good idea, provided your ex and his friend stay on good terms. If the friend moves out, then your ex would need to get a new lodger though, otherwise you'll be back to square one and paying half the mortgage.

You are actually getting a good deal here. If I were your ex, I'd be asking you for half of the mortgage payments, less what the lodger's paying

Rabiddog_2

NO coz If he did that, the ex could come to a nice little arrangement with his mate/lover/friend to charge a low rate of rent, then get the other bird to top it up, and they share the real difference between them.. or they spend it all on Rogan Josh, with pilau rice and Onion bargies TWICE a week!
Best is to get shot of it(mortgage, flat), take half the loan onto your back and work on from there

clairehi

mushy220 wrote: »

.If my ex partners friend,a couple of years down the line, says that he is part owner, even though my name is still on the deeds, is there anything I could do to stop this from happening.Would it even be possible as the house is still in mine and my ex's name.
Any info would be great.....Thanks
Michelle

I think you are looking at this down the wrong end of the telescope. if your name is still on the mortgage, even if you are no longer living there you could be pursued by the lender for 100% of the debt if your ex fails to pay the mortgage whether or not he has a lodger.as you have negative equity on the house you have nothing to lose except a debt!

if you are happy to move out, I would be looking to get your name off the mortgage as soon as the lender and your ex will agree.

GDB2222

The OP should at least consider bankruptcy as a way out of the mess. I can't see the property price going up for years.

stolt

Unless you can get a realistic price on your house from somewhere, you could offer you ex to buy you out at a slightly discounted price. It would clear you of the rest of the mortgage but you could be saddled with a small amount of debt as a way of getting out.

I did something similar with my ex about 10 years back, i struggled with the house and gave her £11k after 3 estate agents valued the property and I havent look bakc since. The ex was happy with her 11K and 4 year later i sold the house and made 45k on it. Or maybe the other way around, If you could buy your ex out at a discounted price i would go for it, keep the house/mortgage going and sell it in 4 years or so and make some money......

mayzie

stolt wrote: »

Unless you can get a realistic price on your house from somewhere, you could offer you ex to buy you out at a slightly discounted price. It would clear you of the rest of the mortgage but you could be saddled with a small amount of debt as a way of getting out.

I did something similar with my ex about 10 years back, i struggled with the house and gave her £11k after 3 estate agents valued the property and I havent look bakc since. The ex was happy with her 11K and 4 year later i sold the house and made 45k on it. Or maybe the other way around, If you could buy your ex out at a discounted price i would go for it, keep the house/mortgage going and sell it in 4 years or so and make some money......

I would also try and do this if I were you. You could perhaps rent out a room.I think you do not have to pay tax on a substantial amount of it.

Another poss. if this is going to drag on is get your agent to join http://www.completingchains.com see how it works.It is for those at the bottom of the chain as much as any of us. If you are lucky it would mean you do not take the loss on your own but it is distributed throughout the chain.

Good luck