Split Up with Girlfriend - Joint Mortgage

mr_tickle_2

Orlando_Virgin wrote: »

My ex is now saying if I give her 3k, which is the money she put down in the deposit to the house, she will walk away and I can worry about the house on my own....

That's very generous of her :mad:
So she gets her money back, while you absorb the cost of any loss of value, plus the costs you associated with buying the house, plus any costs associated with selling the house.
Particularly as...

Orlando_Virgin wrote: »

Say I give her the 3k, she is still on the mortgage and the title deeds, until the I get into a good enough situation to take the house into my own name. If I decide to sell surely she is entitled to some of the money from the sale etc. even if we have agreed to settle with the 3k she invested (her idea)

I wouldn't trust someone 100% when there's thousands to be lost or gained...
As others have said, I'd either try and find a guarantor to have the mortgage and house in your name, or I'd sell up (knowing that it'll probably cost) but expect the costs or profits to be split.

Orlando_Virgin

Really sorry for the massively late update on this situation but here we go!!

Britannia were the first port of call, the house was valued as pretty much the same so we wouldn't be losing there should we sell. However, we would pay early redemption costs on the mortgage of nearly £5k. There was no option of having guarantors on the mortgage as it is not in the policy to do so for Britannia. I had this put in writing for my ex, so selling was pretty much out of the question.

We're pretty much in the same situation as previously, Britannia said I could re-apply to take the mortgage on my own when 90% LTV's are released by them on the market again, which they just have. So I can try that, at which point my parents said they will give her the money for me to pay them back.

I'm sick and tired of it now! Still amicable so that's a good thing but I just want to get this sorted now.

zzzLazyDaisy

Well done for managing to stay on reasonably good terms.

At least you are in a better situation than a lot of people in your position where the lender simply refuses to release either party from the mortgage on the basis that neither has sufficient income on their own to meet their lending criteria and/or they are in negative equity and cannot remortgage without funding the shortfall.

I know that is no consolation to you, but at least there is light at the end of the tunnel.

zag2me

This happened to my friend as well, it was all amicable for a while but turned nasty in a few weeks. She eventually had to sell the house and take a hit on the redemption charges.

Lost about 10k but at the end of the day she was just happy to have it all sorted out so she could move on with her life.

dgpfc

hi , i was in the same boat as you way back in 1996 , she went s******* around and eventually left , told the mortgage company she was leaving wanted no more to do with it ,mortgage company didnt want to know about taking her off, i paid everything since 96 , she had kids got married , eventually she divorced him last year , probably took him to the cleaners , now after 14 years she has come back after me , solicitors reckon in the real world she shouldn't have a leg to stand on , but in the twisted legal and justice system she is still entitled even thou when she last contributed there was no positive equity , but now there is , a fair amount of positive equity only gained because i have been paying it all , she is coming after me,trying to force me to sell the flat and have half the profits !!!!
so when i get a conclusion i will let you know , but i don't have much faith in the legal system .
i wish you luck in whatever way you decide to go .