Breaking up, what happens now?

getmore4less

cunners wrote: »

Sorry, what do you mean by take the place over with an agreement on paper?

If you take over resonsibility for the place totaly but canot take over the mortgage you need to make sure that no future claim for equity is made so you need to have a legal agreement in place that you will be paying but the OH has no claim on the equity.

getmore4less

macman wrote: »

I don't see how they can, if the other partner is able to continue to finance any mortgage themselves. The property is jointly and severally owned and the consent of both must be required for any sale.
Though of course a wife might have the right of occupation granted by a divorce court under any agreement for care of children of the marriage, or might be awarded the house (or a share of) as part of any financial settlement.
You can reregister it as tenants in common, but then both parties have to consent and agree the percentage split.

In addition I think a court will agree to a forced a sale if it can be shown that the equity is needed to for example set up a new home.

cunners

getmore4less wrote: »

If you take over resonsibility for the place totaly but canot take over the mortgage you need to make sure that no future claim for equity is made so you need to have a legal agreement in place that you will be paying but the OH has no claim on the equity.

This would mean she is still on the mortgage and I dont think she will want to be linked in anyway.

Ringing the bank at 1pm, Ill post back what they say my options are. Praying.

macman

Getting a lodger is an excellent idea, under the Rent-a Room scheme you can charge up to £4,200 pa (£350pm) with no income tax payable on this.

McKneff

As far as I know you dont need permission to have a lodger,
only when you rent the property out to tennants.

(but also check with your house hold insurance before getting a lodger) they do have to be informed )

cunners

Ok Ive spoken to the bank.

They said I had to reapply to get this into my own name. Or I could apply with another person, ie my dad. There wouldnt be any early repayment fee because it is a transfer they said.

They are sending me forms out to fill in and then they will check the application and within 48 hours let me know. They said I can definitely put more money down that would be from my dad to help lower the LTV but they said any income from lodgings would not be allowed to be on the application. Also no way I can get a guarantor on it.

So the only option it looks like is to jointly apply with my dad.

Any tips on re-applying? My dad is 50ish will this be a problem? The bank said it wouldnt but their website says applicants have to be under 65 when mortgage is finished.

cunners

My ex now says shes putting it up for sale while all this is going on so that we have a head start if neither of us can buy the other out. I don't really want that to happen. Will estate agents need signatures from both of us to put it up for sale, or just from her? She also might forge my signature, would it be done at the estate agents office?

Also, she says she is moving her sister in to look after her dog when she is not here. I dont want that and said its a no-go but she said I cant do anything about it. What are my rights, how would I sort this out?

Any advice or knowledge anyone has is much appreciated.

Cookie1988

Hey cunners, im sorry to hear about your situation! Im not really sure how estate agents work but they will deffinatly need your consent in this matter if you are expected to pay any kind of fee. If they contact you let them know that things are still to be worked out and you do not give them consent. At the end of the day your home cannot be sold unlessit has your witnessed signature on the transfer deed. Worst case senario is your ex finds a buyer and you say no cause you can buy the place yourself the agents may incur a fee depending on the contract your ex has entered into. You however would not be eligable for any fee's because you wont be entering into anything.

macman

Your ex cannotput the house on the market without your consent, nor can she move anyone in. If she does, you can ask them to leave!

CloudCuckooLand

macman wrote: »

Your ex cannotput the house on the market without your consent

Yes she can. Whether there is any point, as the OP will delay and try to avoid signing to sell it, is a different matter.

macman wrote: »

nor can she move anyone in. If she does, you can ask them to leave!

How is it fair that her money tied up in the house does not give her the right to have her own "lodger" ? Or live there, herself, even?

Until the mortgage is sorted, at least.

The OP can ask the sister to leave, then the ex asks her sister to move back in...silly games, but if she has a dog and (perhaps) her current accommodation doesn't take dogs, is it really that unreasonable?

We have only had 1 side of the story.

Maybe, not saying this to offend the OP, there are circumstances that make the ex worried about access to what is still 50% her property.

If she already suspects that neither salary will get approval to take the house on individually, acting quickly to sell might be the only way any equity is rescued from this situation.