Help Needed - Property Related

B2B-2008

Hi,

I have been lurking on this forum for a while due to my debts. I have a problem at the moment that is causing me lots of stress and I wonder if anyone could give me advice.

In October 2004 I purchased a property with my ex parter. He moved out in February 2005. Since then I have been paying the mortgage/service charge and ground rent myself. We couldn't re-mortgage at the time as we were in a fixed rate and couldn't afford the fines due to debt. Also we never put down the deposit my mum took out a loan for us for this. We were supposed to pay this but when he left I couldn't afford it and she has been paying it.

All along he has said he would sign the property over to me. It is now time do this but I think he isn't going to sign and I think he wants money.

Is he entitled to his share of any profit even though he hasn't paid any money in for nearly two years? Would this have to go to court?

I don't have two penny's to rub together and I can't get a bigger mortgage because of the amount of debt we got in together, I am also paying this debt on my own.

Any reassurance or suggestions would be a great help.

Thanks

P.S I have also posted this on the house forum and I know this isn't really debt related at the moment but you guys give lots of good advise I wanted to have your opinions.

Kazonline

Hi Hun, I'm afraid I don't know the answer to any of your questions, but hopefully someone with a bit more knowledge will be along soon.
In my case after my husband moved out I continued to pay the mortgage, and sadly while we were waiting for the divorcce to come through the value increased considerably and I ended up buying him out based on the increased price. With hindsight I wish I'd been stronger and stuck it out into court as I believe the judge would have given me a fairer deal.
I also repaid his father half of the deposit he had lent us to buy even though nothing had been put in writting.
My advice would be to find a good, sympathetic solicitor. Many give a free initial consultation - but do check first. At this appointment they can also advise you as to whether you might be entitled to legal aid should you need it.
Other than that you might like to try citizens advice beaurau. Most importantly, don't ignore this - if you do have to give him anything you certainly don't want to risk the chance of the ammount you have to give him increasing!!!
Good luck hun,
Kaz x

whatatwit

If you have been and will in effect be continuing to repay the deposit loan, then I would think that the deposit could be classed as having been paid by you alone.

How were the bills and mortgage payments split between you when you were both together in property.

I wouldn't have thought that he could have too great a claim on the property if he hasn't contributed a lot too it.

I would get all your information together and into chronological order and seek professional advice, have you already got a solicitor to act in the transfer of the property.

Possibly just mention that you had borrowed the deposit from your mother, not how she got the money.

Good luck.

B2B-2008

My mum started to pay the loan money when he moved out. She is still paying this as I don't have any spare money to give her.

All bill's come out of a joint account that his wage went into and I added to. The weekend he moved out he took all the moeny out of this account and all the payments bounced, from then on all payments have been coming out of my account. This account is now closed as he went overdrawn, I had to pay this to close it.

I do have a solicitor dealing with the transfer and re-mortgage but at the moment they are waiting to see if he signs the forms.

B2B-2008

Any more ideas?

swampduck

It maybe worth calculating how much he should paid towards the mortgage (had he still been living with you).
Then asking the solicitor to negotiate having this deducted from any sums owing to your ex-partner.
This may help, especially if, as other posters have said they have been caught out with increased house values and having to pay over the increased valuation - after all why should he benefit from your hard work and input over the past two years.
My partner was in a situation with his ex-wife where he continued to pay his half of the mortgage until he bought her out. His solicitor suggested that she might like to pay half his rent as he was unable to live in the house which was half his anyway. (as you can guess that went down like the proverbial lead balloon!!)
Hope all this makes sense!!

Swampy