Living with my ex, house won't sell! Advice?

ZIPPYtheBUDGIE

I have a joint mortgage with my now ex-fiance. I enquired about changing mortgage into just my name and me buying him out. C&G wouldn't lend me any more money on the property to pay him off or extend the term so the payments would be more affordable so this option was not possible.
The house has been up for sale for 3 months and we've had no viewers. It's a FTB house that is ready to move into but unfortunately people can't get mortgages these days.
I'm now enquiring about changing to a joint buy to let mortgage. I have a feeling they probably won't let us do this either.
It is becoming very awkward still living in the same house now that we're no longer a couple, I have been off work with stress because it is really getting me down.:eek:

If anyone has any other ideas regarding options for how we can manage this naff situation I would be most appreciative!

jayss

Cant one of you move out and the one who stays get a lodger to help cover costs?

TTMCMschine

Reconciliation? You liked each other once.

sarah_elton

Reduce the price? Things are still selling, at the right price. What else can you buy for the same money locally. And no viewings at all in three months suggests it's overpriced and/or your agent isn't the right one to be using.

Alternatively, get consent to let from C&G, rent it out, and both move out and live elsewhere.

mlz1413

If you can't buy him out can he buy you out and take on the mortgage?

I think one of you leaving and getting a lodger to cover bills is the best option as once you are apart you might be better able to discuss issues.

Or is this a house, can it be split into ground floor / first floor accommodation? It may cost extra plumbing and electric work but could give you breathing space of a year or 2 until markets pick up again.

If the thought of being in limbo for 2 yrs is too much then bite the bullet and sell for a lower price, have an open weekend and invite offers to be submitted with the buyers circumstances ie cash, waiting to exchange etc.

barnaby-bear

ZIPPYtheBUDGIE wrote: »

The house has been up for sale for 3 months and we've had no viewers. It's a FTB house that is ready to move into but unfortunately people can't get mortgages these days.

People can get mortgages, there are some FTBers with large deposits, cash buyers, investors etc.... however it is hard to get a mortgage for negative euity and those buyers have a buyers market so want value. Absolutely no viewers suggests that the house is not marketed or priced correctly. Any house will sell at the right price.... people aren't even looking or considering yours - why?

westv

A Rightmove link might bring further advice.

sunday_girl_3

I'm not sure whether you are on a repayment or interest only mortgage but maybe worth switching to I/O to reduce your payments? Or approach C & G and see if they will give your permission to let your property (this way you remain on the same mortgage product) but get short term agreement to let - they may make a charge for this or slightly increase your interest rate so best to check with them first. It's in their best interests to keep mortgage payments coming in and prevent arrears so if you talk it through with them hopefully they should be open to help - I'm sure you're not the only one in this situation (I know I'm in a similar situation, but thankfully work for a mortgage provider).

googler

No interest at all suggests something wrong with either the marketing or the price. Has your agent indicated that there's been ANY enquiries, any schedules been sent out, etc?

Ivrytwr3

she asked for advice, she got it. If you can't make a partnership work, don't go into it.

TroysMum

Ivrytwr3 wrote: »

she asked for advice, she got it. If you can't make a partnership work, don't go into it.

Oh my, such brilliant advice from someone who knows just what their talking about....I think not. Never mind, it takes allsorts.

Sounds like the best advice is to speak to your current mortgage lender and see if they will grant you temp permission to let your house, for the sake of your sanity.

Good luck