Need Some assitance in how to sign house over to my ex

SandC

Can't see that it's doable - where is she getting £30k from?

teekay84

Her dad is giving her the 30k

Conrad

I'm lost teekay.

Maybe do a bullet point list of what you want.

You use words like 'she wants to 'refinance' the deposit' - this is a meaningless set of words.

teekay84

1) She will pay me 30k - 19k will repay the remainder of loan from my dad, 11k will go in my account
2) We will keep the mortgage in both our names until she can remortgage..what happens if she defaults? is there anyway i can get her kicked out?
3) I move out and she moves back in?

Leew1231

A friend of mine had a similar situation. He lived with his girlfriend. She left him. She said she didn't want anything of the house but he took the debts on. He probably came out better off with that deal but I don't know the figures. Unfortunately he couldn't get the mortgage on his own so even though he lives there with his new girlfriend and has paid all of it for the last 2 years, the ex still officially owns half. Is current girlfriend his now getting a joint mortgage with him to pay his ex off. It is worked out ok but his ex has been fair about it. If she wanted, she could have made it really difficult (and expensive) for him!

teekay84

I definately want out for personal, financial and professional reasons. The ex seems to enjoy coming round when i am at work and taking "joint" purchases, mostly too small in value to do anything about.

As the mortgage is subprime, we are paying a higher percent over base rate (currently on SRV of 4.5), there is some debate as to when interest rates will go up, but i do not want to be stuck in a house, worth less than purchased for, with a high mortgage.
I am also stuck in my job until i get out of the mortgage.

VIGILANT22

the curent lender is highly unlikely to allow a transfer of 167k when she earns 37,500!....and no other lender either...

teekay84

What about if i could transfer my share into her dads name, he earns a good salary?

Conrad

Her Dad will need to apply. It will be a brand new application. The lender will expect him to live there, and will need to know any existing mortgage he has is well covered by rent when he moves out of the existing one.

getmore4less

beecher2 wrote: »

I must be missing something as I make it £17457 - is the sum £100,957.50 - £83,500?

Corrected thanks ( was in a hurry to go out for lunch)