Partner ran off - shes on mortgage!

jenny_13

j3mm4l33 wrote: »

the mortgage company must know she doesnt pay anything..

How?! The mortgage company will see there is arrears and something is being paid each month them each month but not by who and to be honest they won't be that bothered.

surreybased

Hi,

Not sure there is anything he can do other than get some help from debt advisors. If you were happy in the house then I think the route would be to get her name off the mortgage and continue to pay going forwards BUT as he also has other debts then I think there is a bigger underlying problem.
If the house is repossesed then as others said she will be liable to pay 50%. Likewise if the house rises in value she will able to claim back the increase in value. Best to get this sorted os that your partner and is ex aren't tied together - which currentlly there are.

I understand that you feel protective towards your partner but I guess experience from people here know that if your partner has money issues, he has to sort them out. If you're together 2 years it's quite a lot to take on (believe me, I've been there..after 5 years the sympathy tends to wear off especially if it affects your life, i.e credit rating, hassle, legal situation)

Good Luck - not an easy situation

j3mm4l33

yes i know. thanks all
i dont pay his debts and our money is each considered as seperate, we deal with our own things.
i pay 220 a month and thats for a warm bed, heating, gas electric, virgin, internet, water and food.....i think thats not a bad deal really??

but anyway... after a long talk we are going to do the house up cheaply - to a liveable standard (we just need carpets!) and going to put it on the market....yes the female is still going to get 50%...however it is NEVER going to sell for more.....
It is valued at £65k, bought for 82k and has 79k outstanding on the mortgage, so hes going to make a loss.....so what, thats his problem...not my debt but at least then i can live somewhere i actually like and so can he,,,,with me.

VIGILANT22

hmmm making a loss is one thing, however you have to pay back the 79k to the lender, they're not going to shrug their shoulders and write off a loss!...

instead of wasting your money on carpets which new owners would probably rip up as they want to choose their own..use that money to reduce arrears...

You clearly both don't understand what is involved here....you really need to take advice before you end up taking decisions which might cost you a lot of money....

beecher2

I agree with Vigilant22 - you need professional advice. The lender will want £79k - where is your partner going to find the additional £14k plus costs?

getmore4less

surreybased wrote: »

If the house is repossesed then as others said she will be liable to pay 50%.

They will both be liable for 100% so if she won't/can't pay they can still come after him for all of it.

LilacPixie

To me there seems to be 2 options:

pour every spare penny into mortgage and hope prices also rise enough to barely break even then sell. Means your OH will be shelling out loads and it will take years.

Or just stop paying the mortgage and let it be repossessed. Obviously that hs huge repercussions for his credit rating and yours if you are financially linked.

Best thing would be for you OH to go see the CAB for advise.