So close but yet so far

misspoppy

HI

Just looking at your expenses for the flat why are you paying so much for water, you should ask for a meter as you aren't using water. Have you contacted the council to tell them that the flat is unocupied as you are paying quite a lot of CT. You don't need contents insurance on the flat if you have no contents in it but you need to be carefull with the buildings as they probably have a rule about how many days it can be left unoccupied for.

When you bought the house with your gf didn't the financial adviser go through affordability with you she must know how much of a drain the flat is on you. What will you do when you do sell the flat will the money be used to knock a lump off the mortgage on the house?

I hope the open house goes well for you.

Chaul

Hey thanks for that, you pointed out a couple of things i hadnt explored to get the costs down a bit more although i dont think we are allowed to have a water meter installed but i will look into it.

Yes I will knock a lump off the house mortgage and also we will be able to afford to go from interest only to repayment on the house also, I hate paying interest only :mad:

misspoppy

if anyone new moves into a property here in wiltshire they automatically put a meter in so you should be able to get one you just need to ask.

As you are going to pay a lump off the mortgage why don't you and your gf draw up a joint soa and pay half each it makes sense to spread the cost as you will be doing that by knocking off a lump sum when the flat sells

Katy83

Can you not rent the flat out? I was in a similar situation although with a 100% mortgage on the flat and it now in negative equity I couldn't afford to sell but the rental market is incredibly buoyant these days because no-one can afford to buy. What about renting it out for 6 months then putting it up for sale?

Eric_Pisch

gfplux wrote: »

Hello Chaul,
Your attitude towards your girlfriend is very strange. Today men and women are equal. When you buy a house together (does not matter married or not) you have formed a partnership.
She has to be involved in this.

Totally

me and SWMBO share everything including bills and discuss everything

its a team sport marriage :T

Chaul

Katy83 wrote: »

Can you not rent the flat out? I was in a similar situation although with a 100% mortgage on the flat and it now in negative equity I couldn't afford to sell but the rental market is incredibly buoyant these days because no-one can afford to buy. What about renting it out for 6 months then putting it up for sale?

No way to rent it out I am afraid I have been through numerous letter and phone calls to the company that owns the building who have said it breaches my agreement with them if I do as I am only a 75% stake holder in the flat.

foxgloves

My partner was in a very similar situation when we got together about 10 years ago. He had a mortgage on a house with his ex, then when they split up & each went their separate ways, the house had to go on the market. It took a while to sell and all that time, he was living with me in my house, but having to pay his half of the mortgage on his place (well it was more than half actually as he earned more than ex). In the end, he accepted a very low offer just to be able to get rid of it and move on, but he ended up with over 16k of debt that we weren't able to pay off until we sold my house a year later (thankfully at a time when there was a modest amount of positive equity)to buy a place together. He got to the stage where he just needed to be rid of that negative time in his life to be able to move on. Part of the problem is probably buying a new place with your girlfriend before getting rid of the old one, as I know the only way my partner could have kept the mortgage going on his house was for me not to accept anything from him towards mortgage & bills when he moved in with me. He found this hard, but it's the only way we could have done it. He ALSO bought me an expensive engagement ring around this time which beautiful as it was (& still is!) stacked up the debt still further, so I agree with a previous poster, that much as you both want to crack on with your new relationship & life together, it's worth going slowly on any new financial commitments until you can truly shed the old ones. I really hope it sells soon for you.