Please Help!

vintage_beanpole

A friend of mine took out a mortgage on a house with his then girlfriend. They broke up soon after (ouch).
She moved out of the house and is living with her parents. She's keen to sell asap as she can't afford to pay for a place she's not living in. He's living there now and paying all the bills. But they're in negative equity by about £40k. So selling up would not be the end of the problem.
Renting out would not cover the mortgage, and they don't want to be 'in business' with each other.
He can't buy her out as he doesn't have enough money. The amount of mortgage and bills he's paying is about the maximum he can manage.

The mortgage is with Northern Rock.

Does anyone have any suggestions or is he going to have to just bite the bullet and sell and get into unsecured debt?!

Thanks. :eek:

wodgerdodger

Unfortunately not an uncommon situation but made more difficult being in negative equity and NR. Is there any scope to get a lodger in and help meet the costs?

Presumably the ex is aware she is just as liable for the whole debt as he is and if shes living with mum and dad now is she contributing anything?

vintage_beanpole

How does the NR fact change things?
A lodger wouldn't really raise very much considering the size of the mortgage unfortunately.
Seemingly the ex has mentioned defaulting on the mortgage...so confidence in her continuing to pay is pretty low.
She's only paying her mortgage share, not any other bills - but I suppose that's sort of fair.
Thanks for your suggestions though.