Mortgage, Zero Equity and Relationship Breakup

SemperFi

Hi folks.

Asking on behalf of my current partner. Not really sure where to ask. But hey ho.

She's been split for 8 months. She left their house and moved back to her Mum's house. She left all contents in the house. There's zero equity in the house (approx). Joint mortgage/ownership. He's been paying the mortgage on his own and has been living there until recently. She wants out of the whole thing, hopefully walking away without monies owing. The current mortgage agreement comes to an end in June (ish). He can't get a mortgage on his own apparently.

What can she do? I imagine the answer will be to sell the house, but she's reluctant to get into a confrontation over it all.

Any help would be fab!

Cheers

VIGILANT22

She has to face up to her responsibilities...not just walk away!...it doesn't work like that...She is jointly responsible...if she can't face "confrontation"...she will have to face a solicitor's bill.......

dimbo61

Need to talk to her EX and put the property on the market or see if they could rent it out and cover the mortgage
Who is living in the house now ?
If the property is sold for less than mortgage owed then they will have to take out a loan( EACH ) to cover difference and pay back lender.
Do not allow you new partner to bury her head about this it wont go away.
Be carefull about having joint finances while see still has this mortgage

SemperFi

She's not trying to just walk away, nor is she trying to bury her head in the sand.

Just want to know the easiest/cheapest way out of this.

I believe he's renting it out to a friend of his which is covering the mortgage. He's been paying the full mortgage up to know, as per their non-written agreement. The joint bank account is being resolved this week.

VIGILANT22

SemperFi wrote: »

She's not trying to just walk away, nor is she trying to bury her head in the sand.

Just want to know the easiest/cheapest way out of this.

I believe he's renting it out to a friend of his which is covering the mortgage. He's been paying the full mortgage up to know, as per their non-written agreement. The joint bank account is being resolved this week.

Your post is giving this impression.
The joint mortgage she has entered into means they are jointly liable in respect of the same liability. As long as your GF remains on deeds, she is responsible.
If the mortgage doesnt get paid this will affect both credit files.
To be removed from deeds lender has to agree.
It sounds lender has decided ex partner doesnt have enough income to support mortgage alone.
If they sell and for example mortgage is for 100k and house sells for 90k they have to find the extra 10k to pay back to lender otherwise they cant sell.
Are any of her family in a position to help? Be a guarantor, purchase property etc?
Also when you sell a house you have all the legal fees attached.
She really need to see someone to discuss options as going by your post, neither of you are very clear on the implications of this.

SemperFi

Just forget it. I'll get my family solicitor on the case. Just thought some people would be helpful regarding the situation. Clearly just a bunch of arrogant !!!!!!s. Ha

Maybe when you're in need of help, someone will be equally judgemental and assuming! I live in hope!

VIGILANT22

What is judgemental about what I posted? In post 5 it is straightforward information regarding the situation....

YOU are the one using the words/terms...Quotes: She wants out of the whole thing, hopefully walking away without monies owing. Just want to know the easiest/cheapest way out of this.

Just because you didn't get a cheap easy answer, no need to be rude....