Co-habitation - advice please!

poppy10_2

I think we scared her off

FixingIt

When_is_the_reset? wrote: »

OP - I feel genuinely sorry for the situation you find yourself in. You seem to have been suckered by the 'property only ever goes up in value' and 'you cannot go wrong with bricks and mortar' brigade.

I would try to extract yourself from this deal and leave your new partner out of it. Like the others have said, just treat this like you have rented for three years and put it behind you.

Just out of interest - has the 50% owned by the government (or HA) lost some of the value or has the drop come solely out of your half? If the value went to zero would 50% still be outstanding?

I'm in a similar position to the OP and with mine the other half of the valuation is not taken into consideration.

When you get a valuation the surveyor will either give a price for the percentage or the full market value. If its the full market value then only your percentage is considered.

Like others have said keep your partner out of it, it would only work if you were staying in the property for 5+ years to give yourself a change to clear some of the NE. If you're not married I'd say it's critical you put a better than together than putting his name on the debt.

Good luck.

Nationalist

I agree with the idea that the BF should be a lodger until you buy a house together.

There's no point tying him in to negative equity. Of course he should pay half the mortgage, plus half the rent, plus half the upkeep etc.

It gives you more options in the future if the BF is not connected to the flat, eg he could buy the house and you could then become his lodger while renting out your flat.

olly300

MadnessOfHPC wrote: »

I don't get why people are criticising this homeowner as she is just wanting and doing the best for her own. She has committed no crime yet the hpc ghouls have scared her away. Well done you vultures.

????

Why because people have made realistic points she doesn't want to hear?

The fact that she is in -ve equity and is not marrying her partner are two clear reasons not to put his name on the property.

Aberdeenangarse

MadnessOfHPC wrote: »

I don't get why people are criticising this homeowner as she is just wanting and doing the best for her own. She has committed no crime yet the hpc ghouls have scared her away. Well done you vultures.

I think you've got some kind of a mental issue with HPC. Better seek some help fella!

TypeR

MadnessOfHPC wrote: »

I don't get why people are criticising this homeowner as she is just wanting and doing the best for her own. She has committed no crime yet the hpc ghouls have scared her away. Well done you vultures.

She doesn't own a home, she doesn't even own half the home. I like to make sure the facts are correct here!

HAMISH_MCTAVISH

Having looked at the singularly unhelpful replies in this thread, I thought something was up.

Sure enough......

This thread has been linked to from elsewhere for some sick people to laugh at the OP.

http://www.housepricecrash.co.uk/forum/index.php?showtopic=151389

TypeR

HAMISH_MCTAVISH wrote: »

Having looked at the singularly unhelpful replies in this thread, I thought something was up.

Sure enough......

This thread has been linked to from elsewhere for some sick people to laugh at the OP.

http://www.housepricecrash.co.uk/forum/index.php?showtopic=151389

I wouldn't say we're laughing, more like feeling sorry for her for listening to the advice of property-pushers like yourself.

TypeR

MadnessOfHPC wrote: »

Well spotted.

Those vile vultures get their sick entertainment at other peoples misery.

Horrendously despicable.

Not nearly as despicable as the people that encouraged her in to this lose lose situation in the first place.

nearlynew

If anything good is to come out of this sorry situation the OP is in, then this thread should serve as a warning to anyone thinking of entering into some sort of share scheme.