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Advice needed - I'm paying his ex's mortgage!
qtlaydee
Posts: 16 Forumite
Any help/advice gratefully received.
I have lived with my new partner for the past 12 months.
The house that we live in is still mortgaged to my partner and his ex, as we have not been able to remortgage due to affordability. Basically there is no or little equity in the house, and the banks are not prepared to even consider it when you factor in my partners other debts as well.
My problem is that up until now I have been totally on top of my person finances, I have no debt and am very stringent when it comes to day to day budgeting. I have been paying my half of all the household bills since I have lived here, including the mortgage.
However I am running out of patience with the fact that I am in effect paying off someone elses mortgage. Although we have a verbal agreement that his ex "wants nothing to do with the house" - I am worried and feel I am on dodgy ground.
On the flip side she is also putting pressure on us because she is worried that if we don't pay the mortgage that the bank will "come after her" - I think she is also wishing to eventually buy the house she is currently renting so would be looking for a mortgage herself.
Is there anything I can do in this situation.
Thank you in advance for your help.
I have lived with my new partner for the past 12 months.
The house that we live in is still mortgaged to my partner and his ex, as we have not been able to remortgage due to affordability. Basically there is no or little equity in the house, and the banks are not prepared to even consider it when you factor in my partners other debts as well.
My problem is that up until now I have been totally on top of my person finances, I have no debt and am very stringent when it comes to day to day budgeting. I have been paying my half of all the household bills since I have lived here, including the mortgage.
However I am running out of patience with the fact that I am in effect paying off someone elses mortgage. Although we have a verbal agreement that his ex "wants nothing to do with the house" - I am worried and feel I am on dodgy ground.
On the flip side she is also putting pressure on us because she is worried that if we don't pay the mortgage that the bank will "come after her" - I think she is also wishing to eventually buy the house she is currently renting so would be looking for a mortgage herself.
Is there anything I can do in this situation.
Thank you in advance for your help.
0
Comments
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Sell the house let them take the little equity and start again, renting if need be.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
Stop paying your share of the mortgage only contribute what would be 1/2 of a market rent.
The ex OH should cover their share of the mortgage using that rental payment to help.
Sell her the house and move on.0
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