Am i in the wrong or is he being a Fool??

callyh26

need some advice! Basically I've been with my partner 18 months we have a 5 month old daughter and another baby on the way. Before i met him he was with someone else for around 12 years and they owned a house together. When we first got together i lived with him in the house but it all got too much (she was letting herself in as n when) and we both moved out and a tenant now rents. The mortgage is covered by the tenants rent but my partner and his ex have a £15,000 loan on the house and since ive known him he has paid the full monthly payment by himself as this was an agreed arrangement. He promised to get a solicitor to draw up an agreement they both signed but 18 months down the line this still hasn't happened and its really starting to Pee me off!!Basically he doesn't have the cash to buy her out but she had verbally agreed once the loan was paid off she would take her name off the mortgage making it solely my partners. My concerns are No 1 he hasn't even checked this is possible for her name to come off! No 2 there's nothing stopping her sitting bk letting him pay £15,000 debt off for her them claiming her half of the house! Can my partner get her name taken off the loan? He has bank statements to prove the monthly amount has come from his bank account for at least the last 2 1/2 years ?Once her name was off the loan it should then be allowed off the mortgage surely? He doesn't have a good credit rating from getting into debt when he was younger but surely if the loan company takes his wage into account and the fact its solely him paying the loan off this should count? I just feel she's having her cake n eating it! She pays nothing towards the mortgage or the loan and hasn't for at least 18 months yet nothing could stop her suddenly demanding he sell or worse waiting till he's payed her joint debt off then making him sell! I feel he's being very naive trusting her and i am sick to be honest of the monthly phone calls i just want shut of her! They have no kids so other than this house nothing tying them together! Any help welcome

arbroath_lass

Sorry, this is none of your business. I'd stay out of it unless you want him to think you're only with him for the house. BTW why not just change the locksinstead of moving out? Seems a bit extreme.

As an aside, if he really does have bad credit the mortgage company are unlikely to take his ex-wife's name off the mortgage. Why only have one person to chase when you could have two?

Dave_Ham

Not a good situation I am afraid...

Key question is how much is the mortgage, the loan and how much is the property worth.

Subject to the answer remaining positive, I would be pushing for selling the house and you and him can start again...

There are not many alternatives really, the mortgage company are unlikely to change the mortgage without re credit scoring your man and that does not look positive and from what you have said the ex is not going to buy him out either?

Sell the house - start again...

Unless there is anything else in the background preventing this being a sensible solution...

callyh26

arbroath_lass wrote: »

Sorry, this is none of your business. I'd stay out of it unless you want him to think you're only with him for the house. BTW why not just change the locksinstead of moving out? Seems a bit extreme.

As an aside, if he really does have bad credit the mortgage company are unlikely to take his ex-wife's name off the mortgage. Why only have one person to chase when you could have two?

How is it none of my business???? We have children together and he is using our money to pay off there joint debt!! I wouldnt have an issue if she was paying her half but she isnt ! I moved out because i didnt want to live in her house where she swaned in when she felt like it and its her house as well as my partners so how do i stop her???

Dave_Ham

Stay on point, you are looking for options and solutions not arguments remember..

My advice would be to keep your thread on topic to help you or you will get lots of people disapproving or supporting you and you will get nothing more than you can get down the pub..

callyh26

Dave_Ham wrote: »

Not a good situation I am afraid...

Key question is how much is the mortgage, the loan and how much is the property worth.

The mortagage is around £70,000 and the loan outstanding is around £15,000 the house needs work and i think it was valued around £85,000 so basically if they sold it would clear there mortgage and debt secured on it. He see's it as bricks and water and a worthwhile investment. Which i would if they didnt have such a big loan on it! To me he cant afford to buy her out and i worry that he could spend the next 6 years paying the loan at £200 pcm and then she can turn round and make him sell gleefully as he's then payed her debt and she'd make a profit! I just want him to see he's being naive

callyh26

Sorry just didn't see how it was none of my business! I want proper advice from people who may know weather they'd take her name off or not

Dave_Ham

My initial information stands to be honest. This is never going to end well.

He will not be allowed on the mortgage and without anything formalised she will be able to do exactly what you fear.

Yes, people will come onto the thread and saying he can prove loan repayments but that wont count for much and if it goes legal they will both get nothing out of the property.

Sell asap and save the £200 a month - sounds a better investment to me.

callyh26

Thanks for your advise

arbroath_lass

callyh26 wrote: »

How is it none of my business???? We have children together and he is using our money to pay off there joint debt!! I wouldnt have an issue if she was paying her half but she isnt ! I moved out because i didnt want to live in her house where she swaned in when she felt like it and its her house as well as my partners so how do i stop her???

It is none of your business because it is his debt and his house and he has already shown you he does not want your input.

If you keep pushing him you will end up the "bad one" in his eyes. My advice to stay out of this stands. I appreciate you do not like it but it is still my advice.

It was his choice to have children even when he knew he had this debt to pay.

If you'd changed the locks she wouldn't be able to swan in - would she?

The obvious solution as has been said is to sell the house. Then all ties with the ex are gone. Alternatively he could stop paying, let the house be reposessed and sold. Hopefully the bank wouldn't sell it too cheap but I wouldn't bet on it - they'd then chase him for the remaining outstanding debt.

suburbanwifey

arbroath_lass wrote: »

It is none of your business because it is his debt and his house and he has already shown you he does not want your input.

If you keep pushing him you will end up the "bad one" in his eyes. My advice to stay out of this stands. I appreciate you do not like it but it is still my advice.

It was his choice to have children even when he knew he had this debt to pay.

If you'd changed the locks she wouldn't be able to swan in - would she?

The obvious solution as has been said is to sell the house. Then all ties with the ex are gone. Alternatively he could stop paying, let the house be reposessed and sold. Hopefully the bank wouldn't sell it too cheap but I wouldn't bet on it - they'd then chase him for the remaining outstanding debt.

Actually, as the law stands, if he had changed the locks she would perfectly legally be allowed to break in as she owns that house as much as he does. Yourself as a new GF (babies aside, that means nothing really) have no rights over the house. Your man and his ex do, they are on the deeds and the mortgage, and no way can he change the locks and keep her out. Sorry if that is not the news you wanted to hear.