Relationship ending - mortgage advice

lisyloo

I would be tempted to change the locks once he has left.

I appreciate the sentiment here, but bear in mind he is a legal owner of the property.
My sister-in-law was told by a solicitor that if she did this, then he would be fully entitled to break a window to gain access and it would be HER responsibility to do the repairs.

He might be a nasty piece of work, but you cannot expect him to pay the mortgage and then shut him out of his own property.

I fully understand where people are coming from on this because obviously you want safety and security but you cannot shut him out of his own house legally speaking.
Obviously you should encourage him to amke arrangements before he turns up but legally he can come in and have a bath and lie down on the bed whenever he wants.

I don't think this is really going to be satisfactory especially if things become less than amicable.

Debt_Free_Chick

Lisyloo is right - bear in mind that as joint owner, he has rights too

Toughluck

avoid buy and rent back for the time being. If you cannot afford it on your own then you both have to admit that it needs to be sold. We do not know income details or property value. if you did manage to re-mortgage would you be delaying the inevitable. Sell ASAP to avoid your credit record taking a battering from mortgage arrears. As other people have said (joint ownership and all that), if he messes around with the mortgage it will hamper his chances of securing another mortgage and other credit.

lisyloo

Bear in mind also that if there is negative equity and you sell then the loss is split 50%.
If ou take on the house then any future losses (and prices are only going one direction right now) from the point you settle will be solely yours.

Abbaliz

He may have rights over the house, but he has no rights to control you with his fists, and you must not under any circumstance think you are stuck with him simply because you own a house with him.

I think your best option is to try and cut all ties with this man, it may leave you in some debt, but you need to get away from this relationship and start again and i dont think you could do that in the house you have once shared with him.

Trollfever

Sale and rent back firms need statutory regulation - OFT report

118/08 15 October 2008

The sale and rent back sector needs statutory regulation with better protection for consumers, according to an OFT market study published today.

http://www.oft.gov.uk/news/press/2008/118-08

silvercar

lisyloo wrote: »

Bear in mind also that if there is negative equity and you sell then the loss is split 50%.
If ou take on the house then any future losses (and prices are only going one direction right now) from the point you settle will be solely yours.

Not quite true, you would both be jointly liable for all the loss. The lender will chase both and pursue whoever they feel has most chance of paying them back their money. If they find only one of you has money they would pursue that person for all the money. Even writing them a cheque for half the loss will not stop them chasing you for the remainder.