Break up Mortgage Trap

GazLC81

Hi

This is the first time I have used the forum and am hoping someone has been through a similar situation and may have advice to share.

I split up with my ex partner in April 2008 and was left with mortgage and joint loan to pay. She hasn't paid a penny since she left and i've been informed that she can't afford to.

The house is in negative equity so selling at this stage is not an option. The mortgage company won't allow me to take the mortgage over into my name as I hoped. Renting the property isn't possible either due to needing information from her and also her permission but she cannot be contacted.

What are my options?

Any advice would be much appreciated.

GazLC81

Any advice?

dimbo61

She is liable for half the mortgage payment each month and half the negative equity.
Who said she cant afford to pay half
Get a lodger and get a solictor

Gorgeous_George

This happens so much more in a falling market. If prices had risen you could bet your bottom dollar she'd be contactable - demanding the sale of the property.

There is no easy answer. You need to find her and seek her agreement. Sadly, the law is an !!! and will not help you.

In your situation, what I would like to do (although it is a dumb idea) is to stop paying the mortgage and live there rent free until evicted. This could prove expensive and you would remain jointly and severally liable for all of the mortgage costs, legal fees, admin fees etc.. Hence it is a dumb idea. But I'd feel better about it.

Instead, I think that you should keep receipts and a register of everything that you spend in the hope that when you finally sell up, you can prove that you and you alone paid the mortgage and maintained the property.

I'd speak to a solicitor but I wouldn't expect much help if she cannot be contacted. She shouldn't be allowed to bury her head in the sand leaving your life in limbo. The law needs to protect abandoned joint-mortgagees. As far as I am aware, it doesn't.

GG

magpiecottage

dimbo61 wrote: »

She is liable for half the mortgage payment each month and half the negative equity.

I am afraid that is simply not true. You are both individually liable for all of it.

I don't see what the law can really do for somebody in your situation. If the lender simply stops charging you then it has to charge everybody else extra to cover it and regardless of who was responsible for the break up of your relationship, it wasn't all the other borrowers.

A lodger may at least help to meet the bills and buy you some time, though.

Conrad

The law can do nothing. You either fall into arrears but that will lead yours and her credit records being ruined. In the event I would imagine you will both recieve a ccj for the full sum.

GazLC81

Hi,

Thanks for the replies, good to know other people understand what it's like being in this position.

I forgot to mention in my first post that I have been to see a solicitor that seemed to be rather disinterested and couldn't come up with any real advice. Maybe I was unlucky with the solicitor I choose but it's knocked my confidence in them now.

Her solicitor told her to stop paying which is very frustrating that they are allowed to do this.

I am trying again to contact her at the moment but she continues to hide behind her dad so it makes it difficult to make progress.

George, I must say, this has entered my head on many occasions and if things don't change soon I don't see I have any other option. I'll post her the keys and say I no longer want any part of it..... That would be a shock to her!!

GazLC81

I just wanted to add. When people get a mortgage for the first time they have no idea about these risks of being caught in a mortgage. There should be something in place to protect both parties should one find themselves in my situation.

opinions4u

GazLC81 wrote: »

I just wanted to add. When people get a mortgage for the first time they have no idea about these risks of being caught in a mortgage. There should be something in place to protect both parties should one find themselves in my situation.

Such as?

While I am genuinely sympathetic to your situation, what warnings would have stopped you getting there?

You take on a debt jointly with somebody else. Somebody does a runner. You're left with the debt.

It's clearly stated in the T&Cs, a solicitor acting on your behalf will also spell it out - both individuals are liable for the whole monthly payment. It's also common sense. End of.

Do you really think that you would have backed out of taking the mortgage if there was a health warning on a mortgage advert or quote from the lender stating "IF YOUR GIRLFRIEND RUNS OFF TO PORTUGAL WITH THE MILKMAN YOU REMAIN LIABLE FOR THE WHOLE MONTHLY PAYMENT"?

Gorgeous_George

The law needs to be changed to protect the abandoned party (AP). Something along the lines of...

1. When notified of abandonment, lender notifies Experian and Equifax immediately to prevent further debt being accrued by the deserter.

2. Lender tries to contact deserter - initially by post or telephone and by placing a notice of default in the local press if contact not made within one month.


3. After one month, property to be valued by three valuers/EAs and a value agreed with the AP. Total cost of selling to be calculated (including early repayment fees, estate agent fees, legal costs etc.) and agreed with a Magistrate.

4. AP chooses to stay in the property or not...
a. If staying, AP pays all bills and mortgage. If the deserter returns they have no claim on the property other than the value agreed at 3. minus costs of selling.

b. If not staying, AP pays all bills and mortgage but is granted a court order to recover ALL costs from deserter when found - with interest added at the mortgage rate. AP can change the locks and refuse entry.

The law MUST protect the innocent.

GG

getmore4less

Gorgeous_George wrote: »

The law needs to be changed to protect the abandoned party (AP). Something along the lines of...

1. When notified of abandonment, lender notifies Experian and Equifax immediately to prevent further debt being accrued by the deserter.

2. Lender tries to contact deserter - initially by post or telephone and by placing a notice of default in the local press if contact not made within one month.


3. After one month, property to be valued by three valuers/EAs and a value agreed with the AP. Total cost of selling to be calculated (including early repayment fees, estate agent fees, legal costs etc.) and agreed with a Magistrate.

4. AP chooses to stay in the property or not...
a. If staying, AP pays all bills and mortgage. If the deserter returns they have no claim on the property other than the value agreed at 3. minus costs of selling.

b. If not staying, AP pays all bills and mortgage but is granted a court order to recover ALL costs from deserter when found - with interest added at the mortgage rate. AP can change the locks and refuse entry.

The law MUST protect the innocent.

GG

How do they collect this money that is due due?