Relationship Breakout help and questions...

BeerBelly

Hello,

My brother's girlfriend has decided she no longer wants to be tied down in a relationship and they have broken up.

They have a joint mortagage together (for 2 and half years) and I am trying to help him find out what we need to do if he wants to keep the house himself.

Can you guys in the know please help me? Are there any free services I can call to discuss as well?

So far (aprt from sorting out a settlement on money put into property)

- Speak to lender to reaccess his income and remove partners name off mortage - how does this work and any charges apply for changing the names (not product/packagae/term)?

- Deeds? How does this work, contact land registry?

- What council tax cuts and other benefits would be availbale to him (as sole dweller)?

When they signed up they used a mortgage advisor (whole of market, free one) to sort it all out - is there simialr one to help sort this mess?

Any advice, info we should be aware of would be GREATLYU appreciated during this stressful time!

Thank You

dimbo61

There are lots of things to take into account
1 how much deposit ( each ) did your brother and his EX girlfriend put down on the property.
2 how much have they paid off the mortgage and what is the property now worth
3 are they in negative equity
4 can he afford to take on the mortgage on his own and does he want to stay there.
5 if he is living in the property on his own he should inform the council as he only has to pay 75% of the council tax.
6 what kind of mortgage deal have they got fixed, tracker, etc and length left on deal.
7 the lender may not allow the EX to come off the mortgage and the mortgage may be larger than the value of the property and going down in value each month.
8 they have both signed up to buy this property and are both liaible to pay the mortgage until sold or her name can be removed from the mortgage.

BeerBelly

Thanks for the reply, we know the answers to most of those already. Just for a bit more info, he put in around 70% depsoit to her 30%. Getting vaulations, but house price has not changed in that area (improvements to house as well) - will be able to afford on his own.

Just want to know what offical thingfs we ned to do and contact.

lopbri

Hi, hope my experience may help. was in a similar state myself. 1st off contact your mortage provider as you need their permission, its they who decide if your brother can afford the payments. i was told i had to use a solictor mine cost about £500 and they deal with the land registry,
Is there any equity in the house as simply tranferring it to the other partner may be a problem in future ie, if property prices rise in the future she may claim she was pressured into signing away her share, another point if she signs her share away, and has financial probs ie BR, they may decide to have a claim on her share of the house as she gave it away. ihad to pay my mine about £50000 even though she never payed a penny for deposit or helped with any payments. it was worth it for a quick clean break.
Time wise about a month from start to finish, though i am with FD and they were very efficient.

BeerBelly

It hasn't got nasty and everyone still talking. Tell me a bit more.

If we settle on a payout to ex - get it all clearly written and signed, agreed, witnessed and names taken off how can there be some comeback (if she suddenly turns into the devil?), sorry for the ignornace - don;t want him getting shafted later on. Want to do it all properly and legally, so everything is in his name, everyone sorted and clear.

Thanks everyone so far...