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does an agreement in principle link your credit

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i joint own a property with my ex and am stuck. me and my new partner want to get a house together but my ex is refusing to let us buy him out and for him to buy me out. he wont agree to drop price of house either . my friend was in a similar position and she just left her house and stopped paying which forced the house issue to be resolve but she has been left with bad credit now unable to get a morg for the next few yrs. my partner thinks this may be what i need to do so we can move on but ive told him im worried as il lose my investment in my house and it will leave us unable to get our own house.
my partner has been told he can get a morg which will allow him to get a house and i could move in but my concern is we were hoping to get married next year and if we did and i ended up with bad credit would it not impact on him as well. we got an agreement in principle for both of us to see if we could take my house on together and i think i remember the morgage guy saying we were now linked but not sure?
this years wins so far... judge espresso machine with ok mag. a bag of vasiline moisuriser products. a yogalates dvd.

Comments

  • Your partner is being unreasonable but, if you are both on the deeds of the house you are entitled to advertise it for sale.

    Bad credit will follow you and could wreck your plans so try and rise above it and be the better person and maybe put your plans for buying place on hold until it's sold.

    It's also another thing to buy a house and get married in the same year (I'm doing the same...!)
  • its been for sale for 5 years with no offers i have to have his permission to reduce it
    this years wins so far... judge espresso machine with ok mag. a bag of vasiline moisuriser products. a yogalates dvd.
  • kingstreet
    kingstreet Posts: 39,256 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    An agreement in principle will have created a financial association between you. If no new account was opened, obtain "disasssociation forms" from the CRAs to have the link severed.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • thanks very much for replies, hopefully i can get house sorted!
    this years wins so far... judge espresso machine with ok mag. a bag of vasiline moisuriser products. a yogalates dvd.
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