Advice on bad mortgage / lifestyle situation

cranda11

I am in the following situation and am contacting you to request your help.

Back in 2007 my Fianc!e and I bought a house in Lincolnshire, both of our names are on the mortgage 50% 50%, however I put all the money up in terms of fees and deposit. Subsequently I also paid the monthly mortgage repayments and bills. However in March 2008 we separated (never married) and I moved back to my parents in Watford, as I could not afford to get my own place due to mortgage commitments.

My ex remained in the house and I kept paying the full mortgage repayments as a way to pay towards maintenance of my then 3 year old daughter (the most important person in my life). In August 2008 I stopped paying all utilities as my ex now had her new love living with her, but I continued paying the mortgage as a means of supporting my daughter. I continually asked when they would make payments, neither my ex, or her now husband, work and they refuse to pay their half of the mortgage.

The mortgage advisers tell me that in any case even if I stop paying the debt would be jointly liable but in reality as the only party working they would only come after me.

Whilst it was understood that my paying the mortgage repayments was a way of helping my daughter by putting a roof over her head, I still also bought her clothing and anything that she needed, however, to add insult to injury, one of my Ex’s friends just happened to state that they could get money out of me through the Child Support Agency as they will see the house as an asset and not countable as child maintenance. This happened and for the past 9 months I have also now been paying £311 GPB on top of the mortgage payments of 650 approx. (700 including house contents insurance etc). I spoke with the CSA and they stated very clearly that they have no interest in what I had to say and that they would not do anything.

So I am some £1000 a month out of pocket, paying for a property that I have no vested interest in, is in negative equity and am paying CSA on top, even though my most important concern myself is my daughter.

I have been paying for them to live rent free, whilst they refuse to pay their half of the mortgage, where my ex’s name is on there as 50% owner, I asked the mortgage advisers can they not chase and enforce her to pay, to which they stated no there is nothing in law that can enforce her to pay her half, Just for an idea of the magnitude to date, since 2007 I have paid out somewhere in the region of £23,000, whilst the ex and her Husband have paid 0.

Equally, I formally went to a solicitor, who told me that there is nothing that can be done and effectively I am going to be bled by the current situation, and by a system of governance that is clearly lacking, has no concern about me starting or having a life of my own again.

The house has been on the market for a whole year now, but no interest.

So I am looking for help, I am desperate, I can’t get on with my own life whilst living in a room at my parents house neither can I afford to rent whilst paying the mortgage. I have been continuing to pay as I have been worried that my access to my daughter would be affected.

mcc100

Any chance of using paragraphs ?

climbgirl

Why is the mortgage in both names when you paid all the deposit and all the mortgage payments?

Catatonia

Why no interest? Could you reduce it just to get rid?

cte1111

The main problem is that you bought at the top of the housing bubble. So like many people, your house is in negative equity.

So what options do you have?

1. Stop paying the mortgage. What will happen? I guess the bank will ultimately foreclose on the property, sell it and pursue you and your ex-partner for the shortfall.

2. Move into the property. If the house is in joint names, then I believe that you can do this. There is likely to be disruptions to your daughter, but then so will there be if her home is re-possessed.

3. Sell the house. You're already trying to do this, but as other people have said, maybe consider dropping the price to cut your losses.

Can't think of any other options for now, maybe others will come along with some more ideas.

Personally think I would very reluctantly go for option 3.

As you've already found out, there isn't really any way legally to force your ex to pay the mortgage, other than the threat that if it is not paid the house will be repossessed.

pararct

You haven't mentioned where you work but would assume it it close to Watford where you currently reside?

Can you not get a job (or transfer) to near where this house is? Clearly not an ideal solution but as you own half the property you are entitled to live in it irrespective of your ex's wishes or what her new bloke thinks (provided she has no injunctions against you, if so keep it this way). Minus factors are the potential friction to start with plus factors are you get day to day contact with your daughter.

If that is a definite no go for you then you must look to sell and move on at a loss if necessary so you can start again.

No easy answers I am afraid, You could/should have been advised better when you bought the property particularly as your partner put nothing towards it.

If it was me I would move back in to be close to my daughter and dang the consequences. I would also take great comfort from evicting the non-paying tenant you seem to have acquired.

hazyjo

Send in a bogus buyer to see if the ex is actually trying to sell the house. If I was in her shoes (not that I ever would be), I wouldn't be in a rush to go!

So she's in your old house, with her new fella, and your kid (with her) while you're paying for everything?

I'd have to go for option 2 and move back in, I'm afraid! Would probably tear me and everyone else apart, but at least it might actually make them want to move out/sell. I honestly don't see any other option - I can't see why she'd want to move out with the current arrangement. Say you can't afford to rent elsewhere and pay the mortgage while they all live rent free.

Either that or Option 1 - although I'm not sure where that would put you legally with regards to your daughter.

Jx

cranda11

Sorry! It was a dump of the complete situation and on reflection, paragraphs would have been better!

cranda11

I think option 3 is the only real option. However, I will need to take out a loan to cover the negative equity!

RAS

cranda11 wrote: »

Sorry! It was a dump of the complete situation and on reflection, paragraphs would have been better!

Could you hit the edit button and add a few?

cranda11

Catatonia wrote: »

Why no interest? Could you reduce it just to get rid?

No interest as I want to get a property closer to work in Watford. The house is unlikely to recover the peak price for some number of years. So until the house is sold I cannot get another place.

The option that is the most likely is as you mention reduce the price, but this would mean that I would need a loan to cover the neg equity.

Thanks for your comments