Partner still living with ex with mortgage advice

looroll199

Hi there, not sure if anyone has any advice here. My partner still lives in the same house as his ex, they have a mortage split 3 ways, his third, her third and a third attributed to an online business she runs (which isn't doing well). They moved in 2 years ago. Theres no way she could afford to stay in the house on her own and needs his income to pay bills. In principle they have agreed to sell but all valuations have been less than they paid 2 years ago so she refuses to put it up for sale. She wants to wait and see if the market improves.
Couple of questions:
Can he force her to put the house on the market?
Could he talk to the lender to come off the mortgage and walk away? And if so would he still be entitled to his share of any equity?
He's the sort of bloke who doesn't want to leave his ex in a mess but also wants to move on with his own life. He had enough savings to move out, rent somewhere etc. then ended up lending his savings to her to bail the business out. None of this is documented.
Any advice very welcome

FBaby

That sounds very fishy...they bought that house only two years ago, and in the meantime, they managed to realise they don't want to be together any longer, to meet you, and become committed enough to become a partner? Then he moves out, yet still felt committed enough to her to lend her a decent amount of money to save HER business without any official agreement? and moves back with her? You are a very trusting person I have to say!

To answer your questions:
- Yes, he could force her to sale the house, but if she refuses, he would have to take her to court and that would be expensive. That's assuming there are no children involved as judges are extremely reluctant to force a sale when they are children involved. The cost of taking her to court could wipe out all his share of the equity.
- The only way he can walk off the mortgage is if she agrees to take it all on her own and the lender agrees that she can do that. If she is working as self-employed and the business is failing, it can be expected that the lender has not agreed to it. In that case, no, he can't take his name off the mortgage and will continue to be liable to pay jointly.

looroll199

He has not left they still live in the same house and he lent her money for the business to try and make it work properly and earn enough so he could leave and she could keep the house. This hasnt happened so the only choice is to sell the house. She also has a full time job. He can't afford to leave, pay his own way elsewhere and still pay his share of the bills in the mortgaged house. They have been together a while, not happy for years and moved 2 years ago on a make or break - it broke! The valuations have come through at less than they paid for the property and she is not willing to lose money. I suppose they could always put the house up at £10k more than the valuation and hope for the best.
Thanks for your advice

looroll199

Sorry forgot to say there are no children involved

peachyprice

looroll199 wrote: »

He can't afford to leave, pay his own way elsewhere and still pay his share of the bills in the mortgaged house.

If he moves out he won't be paying bills on the mortgaged house, only his 3rd of the mortgage, the bill will he hers to pay. She can't expect to be kept by him once he's moved out.

DUTR

looroll199 wrote: »

Hi there, not sure if anyone has any advice here. My partner still lives in the same house as his ex, they have a mortage split 3 ways, his third, her third and a third attributed to an online business she runs (which isn't doing well). They moved in 2 years ago. Theres no way she could afford to stay in the house on her own and needs his income to pay bills. In principle they have agreed to sell but all valuations have been less than they paid 2 years ago so she refuses to put it up for sale. She wants to wait and see if the market improves.
Couple of questions:
Can he force her to put the house on the market?
Could he talk to the lender to come off the mortgage and walk away? And if so would he still be entitled to his share of any equity?
He's the sort of bloke who doesn't want to leave his ex in a mess but also wants to move on with his own life. He had enough savings to move out, rent somewhere etc. then ended up lending his savings to her to bail the business out. None of this is documented.
Any advice very welcome

Time for a new partner for yourself, or remain solo until he sorts himself out.

There won't be any positive equity in the house at present, be wary he is not just tagging you along.

chalkie99

My partner still lives in the same house as his ex

Having read the whole thread thus far, and being a suspicious person, does she know she is an "ex"?. It does read as though he has given you his side of alleged circumstances.

they have a mortage split 3 ways, his third, her third and a third attributed to an online business she runs

That doesn't seem very likely. It may be the way they have worked out payments but very doubtful a third of the mortgage is in the business name. Is her business a limited company or is she a sole trader? Whose names are actually on the mortgage?

all valuations have been less than they paid 2 years ago

Could he talk to the lender to come off the mortgage and walk away? And if so would he still be entitled to his share of any equity?

No lender is going to let him walk away. If one wants out and the other cannot get a new mortgage in their own name (given there are no children) they will have to sell.

How does he think he will get a share of the equity if there is none?

If valuations are below what they paid the final selling price is more likely to be less - and that is before expenses.

meg72

Sorry OP but I think you are being too trusting here, this man is not your partner and to be honest his story about the mortgage does not ring true.

thegirlintheattic

Sounds like you are being strung along - he's still with 'ex'. I'm wondering how long it will be before he says to you the only option is for him to buy her out, and can you lend him the money.

BitterAndTwisted

They still live together in the house they bought only two years ago. This suggests that you haven't been with him terribly long and also suggests very strongly that she isn't an ex at all.

Stand back, don't get involved with his domestic arrangements, don't let him move in with you and also do not loan or give him a single penny. I suspect all of that will make you his ex quite soon as well.

FBaby

Why isn't he living with you? Surely you would prefer to continue paying whatever it is you currently pay on your own so that he can pay his share of the mortgage, but at least he wouldn't be in such a stressful situation which he must hate if indeed what he says is true. Unless you are a single mum and would lose all your benefits.