Partner left - wont pay mortgage

Mrs_Bumble

Sponge wrote: »

As they're both on the mortgage, would a payment arrangement not effect her partner's credit rating too? If it does, surely he needs to be informed that as you can't afford the mortgage repayments a payment arrangement of some sort will have to be pursued, effecting both yours and his credit score.

Make sure he knows his actions will effect him, not just you. Maybe then he'll be more willing to assist?

It sounds like you need to seek professional advice. Your home is at risk if you don't. If nothing else, ask the CAB what you should do in light of the advice they gave your partner?

CAB telling him to stop paying the mortgage affects both their credit history potentially, didn't stop them recommending it though did it.

Very doubtful in these situations that it will make the partner that has walked out change their stance either.

Mrs_Bumble

wilsonjones wrote: »

Thanks all.

Theres no children involved, its just me on a very low wage compared to his.

I have told him that if it gets repossessed it will blacklist him too, but he says it cant be helped. He has moved into a house owned by the new woman and said he wont need to get another mortgage so he's not bothered. He has no equity in thr property as i paid the whole deposit and the house prices have dropped. I'm sure it would be a different matter if he was coming into money!

I went to a company who buy properties under market vlaue to see if it was just a way to get out, but they offered me 55k less than the asking price, not enough to cover the mortgage.

I will take a trip to the CAB, typically they are closed on a wednesday!

Buy and rent back is very bad idea, it isn't regulated properly at the moment and if the people that buy from you don't pay the mortgage payments then you end up evicted! So you lose your home and didn't get full market value for it either!

Have a look through the leaflet from the FSA as there are other avenues of help than the CAB.

A lodger may prove to be the easiest option in the short term? Do you live near a hospital, could you advertise for student nurses/doctors? Seem to remember another post on another thread that said about foreign language students.

Keep your lender informed

wilsonjones

Thanks all

I've spoken to my lender but I am unable to get a payment holiday as there isnt enough equity in the property and I am unable to extend the length of the term without the ex's permission.

Thanks for the advice on hospitals, there is one quite near to me.

zygurat789

When the house is eventually sold (maybe after the mortgage has been repaid) the house is still in joint names and HALF of the net proceeds will go to your husband. This is after you have struggled to pay the mortgage,repairs and running costs. I would have thought it was unlikely that any court would do other than award you a 50/50 split so I would say sell the house and get it over with quickly. I know - life's not fair.

wilsonjones

The house is up for sale and I have just recently reduced the price to as low as i can. I cant drop it any further as there are penatly fees to get out of a fixed mortgage, estate agents fees and lawyers fees to pay, which looks like I am going to be solely liable for. I paid the deposit and the house prices have dropped so there is no equity due to my ex as I had a codicil placed with the deeds that he had put no capital into it so would only be entitled to monies over and above what we paid for it. Hence this is why he is just walking away, I bet if there was potential equity owing to him he'd continue.

I wont ever be as trusting again and put everything I have into a relationship.

zygurat789

The codicil did not mention if there was a shortfall? He may well be liable and if you are jointly and severaly liable the building society may well deceide to persue him as he is the easier target - having more money. Try and hide everything you have. Small comfort I know. My daughter is in a similar position.
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