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Mediation/Forced Sale

13

Comments

  • GDB2222
    GDB2222 Posts: 26,533 Forumite
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    shortbread wrote: »
    You really think a judge will say its best to sell a house that cost 146k and to sell it now its only valued at 130k have it sold and have about 11k equity which the £10,456 joint loan has to be paid from?? Does this really look like what the judge will agree to especially as she delayed any transfer of equity for the last 2 years....???

    If it is sold, you'll struggle to get the full value in this market, and there are bound to be some significant fees to pay out of the sale proceeds: £500 for a solicitor and £3,000 for the estate agent. So, I doubt there's going to be enough to pay off the joint loan as well as redeem the mortgage.

    I agree with NDG. I don't see why your partner's ex should be on the hook for the mortgage on what is effectively not her property any more. By selling at the moment, she can get out with her shirt still on her back, but if the market worsens she might be stuck in negative equity. I think she was unwise at mediation to agree to any delay at all, but I don't think that the issue is going to go away for you, and you need to find a solution straight away.
    No reliance should be placed on the above! Absolutely none, do you hear?
  • shortbread
    shortbread Posts: 112 Forumite
    Pimento...I wasnt in there 2 1/2 years ago when she left....so sorry cant take that as a reason....I havent even been here a year....so how does that account for the year and half previous???
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    Still unresolved?
  • angelsmomma
    angelsmomma Posts: 1,192 Forumite
    Part of the Furniture Combo Breaker
    Thrugelmir wrote: »
    Still unresolved?


    Looks like they are going to be moving to a pub live in job and become foster parents now so they are probably not to bothered about this now.
    Life is not the way it’s supposed to be. It’s the way it is. The way you cope with it is what makes the difference.
  • shortbread
    shortbread Posts: 112 Forumite
    Thrugelmir it is Still unresolved....sadly.....mediation is stil going on

    Angelsmomma....I dont think its nice to make assumptions...

    Ofcourse we are bothered about this NOW.....it is a huge concern its not like its a rented house and we just walk away....its still my partners home....
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    shortbread wrote: »
    Thrugelmir it is Still unresolved....sadly.....mediation is stil going on

    What's the stumbling block to a resolution.?
  • shortbread
    shortbread Posts: 112 Forumite
    He wants to keep the house, simply because he loves the house and was always him who paid the mortgage. I can understand that he feels he wont get back into a house of the same ever again if he sells, which I can understand. Plus if they sell they they wont make any profit and will be in debt....


    She seems to think the house is worth what they should have paid back in 2007 which was £160k even though they paid 146k ..its now valued at 130k but she wont accept this and wants money out of it....as she thinks house is sold and she gets 65k....she doesnt comprehend they owe 118k to mortgage and 10k loan....

    So really no idea how long this will go on....I know all is fair in love and war, but theres no cash to be made
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    shortbread wrote: »
    He wants to keep the house, simply because he loves the house and was always him who paid the mortgage. I can understand that he feels he wont get back into a house of the same ever again if he sells, which I can understand. Plus if they sell they they wont make any profit and will be in debt....


    She seems to think the house is worth what they should have paid back in 2007 which was £160k even though they paid 146k ..its now valued at 130k but she wont accept this and wants money out of it....as she thinks house is sold and she gets 65k....she doesnt comprehend they owe 118k to mortgage and 10k loan....

    So really no idea how long this will go on....I know all is fair in love and war, but theres no cash to be made


    Sounds like a couple of lemmings heading for the cliff edge. Suggest you bang their heads together. As the the current rate everybody is going to lose out in the end. As you can see this situation spiralling out of control and s heading for disaster.

    I would have thought moving on with ones life has more importance than a pile of bricks. Not only to ones self but also immediate family and dependents. Who get drawn into the whole circus.

    I suspect that if it ever came to court. Then the judge would rule in favour of the ex. On the grounds of intransigence of your partner. Something to be considered in there is ever equity in the property. As costs of the case could be awarded against as well.
  • shortbread
    shortbread Posts: 112 Forumite
    She didnt even turn up for mediation.....what does that say???
  • GDB2222
    GDB2222 Posts: 26,533 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    shortbread wrote: »
    She didnt even turn up for mediation.....what does that say???

    Maybe it says that she does not think that mediation is working for her benefit? Maybe your side needs to give more?
    No reliance should be placed on the above! Absolutely none, do you hear?
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