Urgent Joint mortgage advice please on a relationship breakup

ComputerUser

My daughter and her boyfriend are splitting up - he's had an affair and when she found out he presented her with an ultimatium to move out at a price he has decided with no consultation- he has offered such a low amount she does not want to give in to him - but he is harrassing her and making it impossible for her to stay in the house - she has no were to go and would need to rent somewhere else so could not afford to pay her half of the mortgage and rent somewere else.

If she moves out does she still have to pay mortgae or can she move out and tell him he needs to "rent" her half of house from him and the "rent" would pay her half of the mortgage?

They also have a joint account which she has asked him to close but he refuses and she is afraid of him running up debts that she'll be responsible for.

Any advice appreciated

alleycat`

Typically to remove a name from a bank account it requires both / all people on the account to sign a form in the branch.

I think this is to stop people removing themselves from accounts that have dd's / standing orders that could force it into debt and thus remove themselves from liability for charges.

Joint mortgages are a nightmare area.

She would be liable for any debt on the mortgage even if she is not living there.

Pee

For next time, don't buy a property with someone else, and if you really have to, put a formal agreement in place, setting out what will happen. In the midst of the relatiosnship breakdown, noone is going to be reasonable, so get her to a solicitor asap. It sounds like there is some equity in the property which is a good start in these troubled times.

nw_man

ComputerUser wrote: »

My daughter and her boyfriend are splitting up - he's had an affair and when she found out he presented her with an ultimatium to move out at a price he has decided with no consultation- he has offered such a low amount she does not want to give in to him - but he is harrassing her and making it impossible for her to stay in the house - she has no were to go and would need to rent somewhere else so could not afford to pay her half of the mortgage and rent somewere else.

If she moves out does she still have to pay mortgae or can she move out and tell him he needs to "rent" her half of house from him and the "rent" would pay her half of the mortgage?

They also have a joint account which she has asked him to close but he refuses and she is afraid of him running up debts that she'll be responsible for.

Any advice appreciated

OK......

So, we need to get to the root of the problem here, unfortunately his affair and behaviour is just muddling the water. Sorry to be abrupt.

Are you saying they have a joint mortgage ? If so then she is jointly liable to pay, same as he is. If the mortgage doesnt get paid then the lender will chase BOTH parties. So her moving out and then not paying is taking a risk on her part that he will pay it all.

If it is jointly owned and she moves out and he refuses point blank to pay, then he is going to take her down with him. And it will be a painful thing for both of them. She may need to point out the error of his ways to him over this, making him fully aware that if the mortgage isnt paid then he is wrecking HIS credit file as well as hers.

I would put the property on the market personally.

I can totally see her dilemma and its a very tricky situation, all too common these days. I wish her all the best.

getmore4less

Start with some facts

Whats the place worth(realistic)?
Whats the mortgage?
How much has she put in?

unite79

If your daughter goes into the bank, she can freeze the account - So no money can go in or out - This would overcome concern of running up debts etc.

mclaren32

unite79 wrote: »

If your daughter goes into the bank, she can freeze the account - So no money can go in or out - This would overcome concern of running up debts etc.

And as its a joint account he could just go and have it taken off.

bigstevex

if the joint account is in credit not in the overdraft I can't see the bank refusing to take a name off it if she explains? Although I'm just guessing, I have no experience of this at all! I do have a joint account though which strangely only needed my signature to open!

Debt_Free_Chick

ComputerUser wrote: »

If she moves out does she still have to pay mortgae or can she move out and tell him he needs to "rent" her half of house from him and the "rent" would pay her half of the mortgage?

Potentially, yes - it's the concept of Occupation Rent under the Trusts of Land and Appointment of Trustees Act 1996. Her argument, in law, would be that his behaviour has led to her being unable to occupy the property. As he would be occupying all the property - including her share - he would effectively be renting her share of the property from her.

She would have to trust him to continue to pay all the mortgage though and given this .....

They also have a joint account which she has asked him to close but he refuses and she is afraid of him running up debts that she'll be responsible for.

If he defaults on the mortgage, then that would be an issue for her - big time.

In my experience, the early stages of a breakup are the worst possible time to attempt to deal with finances. It's an emotional time and this tends to lend itself to irrational behaviour. Ideally, they should both take "some time out", but I can see that could be difficult if they are both under the same roof.

Kavanne

mclaren32 wrote: »

And as its a joint account he could just go and have it taken off.

That is not the case as I understand. one party can put a stop ON but to take it off both parties must consent. I think.

kerri247

I think she needs to get down to her bank straight away and explain the situation. If they wont remove her name they can freeze the account. I had to do just that when my ex-boyfriend refused to co-operate with me when we split and had a house to sell. Woolwich would only freeze the account and to remove it it requires all account holders to sign for it, but Nationwide closed the account completely (I had stopped all dd by that point),
As for the house sale, she needs to get several valuations before accepting any offers from him.