Please Help

whataremyoptions?

I am very confused on a number of things following my recent split from my girlfriend who was made Bankcrupt last October. I will supply all the details that I can think will be useful but i'm happy to give any further details if it help any of you advise me.

• House was previously owned by her with her exhusband and then laterly by her with her Dad as guarentor on the mortgage. I went on to the mortgage 3 and half years ago somewhat reluctantly.
• I have paid the majority of mortage payments along with the bills. I have paid all for the last year with no support.
• My ex had numerous debts before we met acrued from her previous break up and her love of all things nice. I was unaware of this until someway in to the relationship.
• She's got a 8 year old daughter from her previous relationship who lives with us.
• On the 15th October she was made Bankcrupt and had all her debts wiped.
• She recently decided that she didnt want to continue our relationship with me but believes i should be the one to leave.

If the house was not in negative equity and she could afford the mortage i would go. But the house is aprox 10k in negative equity, as a bankcrupt i dont believe she could have a mortgage and she doesnt earn enough. So i see the only feasible soultion is for me to take on the house in my sole name, am i right?

skylight

Yep. Tell her to leave and you will take over the debt entirely (you need to buy her BI and get her name off the deeds/mortgage) Can you get a mortgage on your own?

She will not get a mortgage on her own. She is BR and even if she wasn't she cannot afford it anyway.

Be careful though with how you word things. Anything you suggest is going to get her back up. Because the worst case is that you leave and pay nothing. She pays nothing as she cannot afford it. The bank repossesses and you are fully liable for all the debt. (And she gets re-housed via the council)

Suggest to her that you get the mortgage/deeds all on your own, rent the property to her for 6 months, evict her then the council can re-house her (whether they do or not is her problem and not yours). That way you both get a home.

whataremyoptions?

When you talk of the worst case. Am i right in thinking that I cant make her leave and in the same way she cant make me leave?

I feel like she's got total control as she as nothing to lose! I like the idea of buying and leasing back to her but not sure how that would work.

Having paid the mortage single handed for so long on my own i cant afford to just let her live there whilst i get in to debt renting somewhere else.

I guess i need to speak to a solicitor but would almost like to come to an agreement with her first to avoid costs.

Any other advice welcome

Sunnylooloo

I think this is a bit sticky as the house is in neg equity and I hope someone will be along with some good advice

Just in my opinion, if she couldn't get a mortgage and if neither of you were paying the mortgage (ie you move out and rent) then I have a feeling if the house got sold the lender could come after you for the shortfall.

As Skylight has said if you can buy the BI of the house and keep it up yourself that would be the best solution but I dont think you can just kick her out (like she can't to you)

If you did move out do you think she could pay you rent? I'm just trying ot think of any options??

Sorry not really that helpful..

whataremyoptions?

Cheers Sunnylooloo- the negativity equity bit is a strange one but if the mortgage company allow i would happily take on the negativity, just to get it sorted.

The one thing keeping me sane at the moment in all this is my job which i love, i can not run the risk of defaulting as if i were to be made bankcrupt i would have to give up my job. Whats BI?.

If the house was in my name soley and there was a legal document drawn up i would let her rent the house in the short to medium term. I just dont want the last 6 years (relationship) and (3.5 years house owner) to have resulted in nothing but heartache and wasted money.

Darnit_2

yopu certainly need legal advise, becasue even though you can buy out her beneficial interest (BI) you can't just remove her from the mortgage without her permsision. Most BR's who intend to leave the house to be repossessed don't pay the mortgage for a year to save for the hefty deposit on a rental.