Help - My ex has abandoned the house

Mini500

I split up with my ex 6 months ago, and left the house as he agreed to pay the mortgage and then apply for transfer of equity to take me off it. I got a call from the mortgage company to say that last months mortgage has not been paid, and that they have no contact details for my ex whatsoever (I called his works mobile only to find out he'd left his old job about 6 weeks ago)
After saying that the mortgage would get paid etc... etc... and still not making a payment, he has now told me that he is moving out of the house and will not pay any further. I have spoken to our mortgage company, but even if I move back in, I cannot afford to pay even half the mortgage payments.
Is there any way of forcing Ex to pay half of the mortgage payments, and maybe go on an interest only so that I can afford to pay the rest until it is sold? I have told the mortgage people that I will move back into the house, but they are aware that I do not earn enough to pay the full amount.
If my ex refuses, and the house is repossessed, is the fact that I would make sort of "good will gesture" payments each month going to have any positive influence whatsoever on the after effects of a repossession?
I am at a loss as to what to do. Mortgage company is fully informed of the situation, but I'm feeling completely out-done.

silvercar

You can't force your ex to do anything. Going on interest only could mean that you don't blight your credit record with mortgage arrears. I doubt see how a lender will count you paying anything except full payments as "good will", how is it good to pay less than you contracted to do?

You both have a joint liability for the mortgage. If the payments aren't made the lender will chase both of you, put black marks on both your credit records and you will both be liable for the shortfall.

If you can't afford the payments and your ex can't or won't pay the best advice is to sell.

Your other option is to move back in and get a lodger.

gratefulforhelp_2

Contact one of the debt charities sharpish for advice, or CAB. Good luck.
Sounds like a charmer!!

Mini500

Oh believe me he is. I have been to see CAB, and they weren't able to give me much advice other than to go to a debt service, which I shall, and I am also getting advice from an Insolvency pratitioner.

Does anyone know if I declare bankruptcy, whether the court can give the mortgage over to Richard. I read somewhere that someone had taken it on in their name only when their ex had threatened to declare himself bankrupt. I know my ex can afford the mortgage (as he'd been paying it without help for 6 months) and he earns over twice as much as I do...
I don't know whether it would have been better if I was getting a divorce, rather than separating from an ex!!!

AMILLIONDOLLARS

Why not see if you can rent out a couple of the rooms to help you with the payments and outgoings, if not see if its possible to rent out the whole house.

AMD

Mini500

Hehehe, I have looked into renting out the property - lodgers as well as being an inconsistent form of income, would not quite give me enough to make ends meet with the mortgage (as our Mortgage company won't allow us to go onto interest only long-term) same goes with the letting of the property, no way we would get enough to cover full mortgage. In either case, the ex has refused to make up the shortfall that I cannot afford anyway.

Now looking into bankruptcy, as this may be my only option when the house is repossessed and am extremely worried about my car. It is an expensive car, but the problem is, is that my parents recently paid off my HP agreement to enable me to pay them back the debt at a lower rate of interest over a shorter period of time. If I went to bankruptcy, would they still take this as an asset, even though I would still owe my parents a significant amount of money (as it was originally on HP it works out about 2.5k over the current value of the car) I can prove that my parents gave me that money, and that it was their money not mine that paid off the finance company, and that I still owe them that cash - will they still take it?

silvercar

Is the car in your name? With no finance now attaching to it? With the proof that your parents paid off the HP, chances are that the official receiver would take your car allow you 1-2k from its sale to buy a run around if this is necessary to you for work. Your parents would join the list of creditors to whom you owe money, you wouldn't be allowed to show them any preference over other creditors.

Oldernotwiser

Mini500 wrote: »

Now looking into bankruptcy, as this may be my only option when the house is repossessed and am extremely worried about my car. It is an expensive car, but the problem is, is that my parents recently paid off my HP agreement to enable me to pay them back the debt at a lower rate of interest over a shorter period of time. If I went to bankruptcy, would they still take this as an asset, even though I would still owe my parents a significant amount of money (as it was originally on HP it works out about 2.5k over the current value of the car) I can prove that my parents gave me that money, and that it was their money not mine that paid off the finance company, and that I still owe them that cash - will they still take it?

If you go bankrupt then your parents will only be one of your creditors and you won't be allowed to repay them over any others; you'd have to repay them out of any money you could squeeze from allowable expenses.

Mini500

And if I sold my car, and gave my parents the money before declaring bankruptcy they would then go to my parents for this money wouldn't they.
Is there a timescale for that to happen, because I will not be in a position where I would need to declare bankruptcy for probably about a year (as this outcome will depend whether the house I co-own goes to repossession - I'd only need to declare bankruptcy if this happens, to pay for the shortfall left over from when the mortgage company re-sells it post repossession) So if I sold my car, and gave back my parents the difference between the sale and a purchase of a cheaper vehicle now - would the OR still look into this and want the money back from my parents in a year's time?

LilacPixie

could you not sell the house before reposession?? is the house in NE?? Could your parents not assist youin the short term??

Gorgeous_George

You need to arrange a time for you and your ex to discuss the way ahead. You may need to take an adult with you.


Options include:
1. Selling and splitting any equity (negative or positive) fairly and to both of your satisfaction. It may be 50/50 or 100/0 or anywhere inbetween.

2. One of you may wish to live in the property.
a. You could transfer the mortgage and sort out the equity so that only one of you is liable for the mortgage.
b. Alternatively, you could agree that one of you lives in the property and rents the other half from the non-resident partner (this may not cover your/his share of the mortgage.

3. Converting to BTL and letting the property until the market recovers. Any mortgage shortfall and oter expenses would need to be paid by the pair of you. Again, the split needs to be agreed. You would also need to agree when this position would be reviewed and whether this depends on the wished for market recovery.

It is time to deal with the problem. As an aside, you cannot afford an expensive car with the mortgage and I would sell the car.

GG