How do we split the sell of our house?

silvercar

First call is to the existing lender to see if they would allow him to take over the mortgage on his own. Correct term is "transfer of equity". They will want to know if his job is secure and his current salary. If the existing lender won't release you from the mortgage (and their argument will be that with the mortgage bigger than the property value, they have two people to chase if things go belly up) there is little you can do.

geoffky

grab the money and run...you would be mad not to..you owe him money as its in negative equity

hazyjo

Agree too. Bite that hand off and run for the hills!

As for all you spent on the house, knowing your ex-BF was drinking, smoking, holidaying with his mates while you did nothing - well, sorry, but 'mug' maybe - but at your own choice as you allowed it to happen (sorry again - using your own word, but explaining why not necessarily his fault!). Take it as a lesson in life and learn from it. Not sure why you'd have agreed to any deal like that, or why you'd have spent all your money on the house if he was spending his elsewhere. Did you not have friends to go out with? Did you not want a new top instead of a pot of paint? Maybe the house should've waited a bit while you both enjoyed yourselves. Some people don't take the same amount of pride in their homes as others. If he didn't give two hoops about the house and would rather go on jollies with mates, you would've seen pretty early on that you had very different attitudes to homes and money. If I was the one doing up the house, I'd at least expect my other half to be paying for other things instead or contributing money to the house.

Jx

blackshirtuk

I tend to agree with everyone else!

just wondering about your definition of "negative equity" Do you mean that the selling price of the house is now less than the value of the mortgage (the accepted definition) or less than the price you paid for it?

misskool

forumlord wrote: »

Situations like these are never easy but as everyone has said, if he has made you a reasonable offer to be debt free then take it. Start 2011 with a fresh vigour and get yourself a nice home that you can take pride in and gain equity in. There's no point being bitter about the little details at this stage. Best to focus on agreeing severance. I guess your only stumbling block is to hope that the bank are satisfied your ex-partner can pay for the mortgage solely on his own otherwise you may have a problem.

Can I please request you don't promote your own website by adding it to your posts? There are 2 posts (from your grand total of 6) that contain reference to it.