Ex trying to force me to sell. Joint mortgage

Tina27_2

My ex is trying to force me to sell my house even though he doesn't live there anymore or pay towards any bills inc the mortgage.

We took a large mortgage and moved into the house about 18 months ago and put down a £25k deposit between us. We were both paying towards the mortgage until we decided the relationship wasn't working. He chose to move out and I was left paying all the bills including the mortgage on my own for the last 6 months. We agreed that if i paid my ex £12.5k (his half of the deposit) then i could keep the house. I have managed to get the money together to do this but the mortgage company wont take his name off the mortgage as they say it's too big to have just my name on it. (They will only lend 5 times yearly salary which puts me about £40k short). I can prove I have been paying the mortgage and all the bills on my own for the last 6 months and don't even want them to reduce the payments etc. There is a big redemption fee if i end the mortgage now as am on a fixed rate for the next 4 years.

My ex is now trying to force me to sell now even though the house is in negative equity. He doesn't seem to care that we may have to pay the bank even more money as the house is worth less than we owe. Plus we will have to pay the £9k redemption fee.

Is there any way he can force me to sell?
Is there anything else i can try to get the mortgage company to allow just my name on the mortgage?

beecher

Your ex isn't entitled to any money at all since you're in negative equity - he's liable for half of the shortfall if you sell. The deposit has disappeared. Your ex needes to understand that and then decide what is the best way forward - selling at a loss or holding on til the fixed rate is over (and possibly still selling at more of a loss - no-one can tell for sure). Once he realises he isn't going to get his money back he may look at things differently.

As the mortgage is more than 5 times your salary then you won't be able to take the mortgage on yourself. You probably need to get professional advice on what is the best way forward.