Joint Morgage In negative equity can he force me to sell? HELP plesae

luschious

Hi all, i have seen a few threads but nothing that reflects my situiation.
my partner and i seperated a few years ago, the house was in negative equity when we split with some arrears.

I was the only one able to maintain payments on this so took over the house and all bills. My Ex pays nothing. I’m hoping in time to be able to take over the property once the house is in equity, though with the current market this could take around 5 years.

My ex has no job is being chased by debtors but his new partner wants him to cut all ties with me and sell the house at a loss sharing the debt 50% knowing full well he cannot pay this they are likely to chase me.

I am willing and able to maintain payments but no not want full liability for all debts so really don’t want to take his name off yet.

Do i have any options can i refuse to sell??? Any advice anyone PLEASE!!!

Frustrated

bigadaj

Would be a lot easier with numbers, so your salary outstanding mortgage and property value. If you don't earn enough to meet the lenders criteria for affordability then a sale can be forced but will take time and need to go through the courts.

luschious

thanks i earn approx 38000
property value about is 105000
mortgage and secured loan 126000.
the mortgage are aware of situation and that all payments are made solely by me

CLAPTON

in principle he could apply to the court to force the sale of the house; however he would then need to pay half the negative equity

I doubt a judge would be very sympathetic to him

however I do see merit in a clean break from your point of view.

Thrugelmir

luschious wrote: »

I am willing and able to maintain payments but no not want full liability for all debts so really don’t want to take his name off yet.

At a later date your ex could be equally as intransigent. Something to consider before digging yourself a hole. As you need his signature as much he needs yours.

Somehow you need to arrive at a mutually agreeable compromise.