We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Split up with Partner and want him to buy me out of our joint mortgage
egux478
Posts: 5 Forumite
Hi
I split with my partner last summer. I was the one to move out and would now like him to buy me out of our joint mortgage as he wants to stay in the house. He says he has been in touch with the mortgage company to get me taken off it and they won't allow it as his income (on paper) would not cover the repayments. I don't want to split 50:50 as we would have to sell the house and would potentially be at a loss due to the current climate. Can anyone advise me on the legalities of asking him to buy me out? I don't want much but I refuse to walk away empty handed.
Thanks
I split with my partner last summer. I was the one to move out and would now like him to buy me out of our joint mortgage as he wants to stay in the house. He says he has been in touch with the mortgage company to get me taken off it and they won't allow it as his income (on paper) would not cover the repayments. I don't want to split 50:50 as we would have to sell the house and would potentially be at a loss due to the current climate. Can anyone advise me on the legalities of asking him to buy me out? I don't want much but I refuse to walk away empty handed.
Thanks
0
Comments
-
If the lender wont remove you from the loan, for good, reason, thats it. He is under no obligation to buy you out or you he.0
-
If selling the house would result in a loss, then what makes you think you are going to walk away with anything at all?
Quite the opposite, if you have a joint mortgage you have joint responsibilities, and if the house is currently worth less than the mortgage then you would have to pay him to buy yourself out.For every complex problem there is an answer that is clear, simple and wrong.0 -
If it's in neg equity, then you would have to pay HIM to be free of it...0
-
Thanks for your advice. This situation is really confusing for me.0
-
what is the house's value
what is the mortgage
how much deposit was paid0 -
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.6K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.9K Spending & Discounts
- 244.5K Work, Benefits & Business
- 599.8K Mortgages, Homes & Bills
- 177.2K Life & Family
- 258.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards