Change of parties on a mortgage

simon_blay

I really need some advice!

My g/f moved in with her friend 2 years ago and they took out a joint mortgage. 6 months in, her friend moved out, stopping any mortgage contributions and assistance in paying bills.

2 years down the line and her friends wants to come off the mortgage as she says he is about to go bankrupt. This has only been confirmed in emails from the friend, nothing official has been received. The house is in roughly £15k of negative equity and my girlfriend doesnt want to lose the house which she fears she may do because she doesnt expect her salary to be sufficient for the mortgage company to continue to provide the mortgage. This is even though she has had lodgers in over the past 2 years and she has continued to make her monthly mortgage payments without defaulting. She is feeling under pressure as her salary is about to drop, and this will have a negative effect on what the mortgage company will be able to do.

How can she continue without losing the house? I have been told that I could go on the mortgage, and she would continue to pay every month. My main concern about this is that I am then going to be liable should she ever have issues paying.

Any helpful words would be really appreciated.

Cheers

poppy10_2

simon_blay wrote: »

she has continued to make her monthly mortgage payments without defaulting.

Has she been making the whole mortgage payments or just half?

simon_blay

My g/f has been paying the full amount ever since the girl walked out.

I was also told there is an insurance you can take out in these situations to protect against people going bankrupt and you being liable for their debt e.g house contents. Is this correct?