Messy brother!!

nikki1520

My brother bought a house with is girlfriend in April 08. They split up last month, and she's moved back home with her sister. He wishes to remain in the house. There's no equity in the property, obviously, and he put up all the deposit and paid all the mortgage payments.

They both wish to make it so that she no longer has anything to do with the property. He has explored remortgaging, with my dad as tenant in common, but was refused on the grounds my dad is too old! Obviously at some point, my brother will earn more mooney and be able to have the mortgage in his sole name, but this isn't an option right now.

Does anyone have any ideas as to what they can do to limit her rights and liabilities re this house? I've spoken to her and she wants none of the eventual profits, or the current liabilities. Can they get some sort of court agreement to cover themselves?
They do both accept that as things stand, if something happens to my brother, then the mortgage company will be after her for the money - but neither of them want this

Thanks in advance for your help:beer:

poppy10_2

nikki1520 wrote: »

They both wish to make it so that she no longer has anything to do with the property.

Does anyone have any ideas as to what they can do to limit her rights and liabilities re this house? I've spoken to her and she wants none of the eventual profits, or the current liabilities.

When they took out the mortgage, they both agreed to be jointly and severally liable for the mortgage. The lender won't just take someone's name off the mortgage, no matter what your brother and his girfriend decide between themselves. She has to be bought out, either by your brother taking out a mortgage for the entire property or by remortgaging with someone else.

nikki1520

I do know that, and wish that his girlfriend had appreciated the gravity of the paperwork she was signing at the time. Obviously she didn't, and remortgaging isn't an option as my brother doesn't earn enough to qualify for the mortgage on his own (although he has no problems making the monthly payments). His only option at the moment seems to be leaving her on the mortgage and paying it himself, but he doesn't want her claiming anything when it's sold, seeing as she's put nothing in.

I was hoping that someone could tell me what an occupation order is, as thats a term I've heard recently - all help gratefully recieved!!