Someone please help me.

Dicky2K

Hi guys. Hope you've all had a better Christmas than me.
Basically I've just completed a purchase of my first house with my partner, we signed contracts to exchange keys on the 17th of January.
For one reason or another my partner has now decided she doesn't want to be with me any more, we've been together for 6 years, we are not married and have no children or dependants.
I put £25k down on the house, and covered ALL the expenses. She hasn't put a penny down, but the mortgage is in a joint name, as is the house.
I really have no idea where I stand now so I hope someone on here has a head that's a little strainer than mine at the moment and can help me out.
Many thanks in advance.
Richard.

kingstreet

You appear to have exchanged contracts, with completion set for 17 January.

You need to get legal advice on this issue as soon as you can. You (and your former partner) are in a very difficult legal position.

Dicky2K

Doesn't look too good does it. Almost as though it was planned.:(

M0ney

Oh dear, I hope you paid the deposit through your own account and it wasn't from a joint account you had with her.

opinions4u

Check with the solicitor the costs for backing out now.

Or take a flyer on house prices increasing, go ahead with the purchase, struggle on your own and get something legal drawn up that ensures the dopey mare doesn't benefit from any appreciation in property price. Then sell at a profit in 6-12 months.

ACG

It does sound like you have exchanged rather than completed.
You can pull out but it may cost you. I really feel for you as i would not envy your position at all.

I dont really agree with Opinions4u comments as when it becomes time to sell you will end up having to get her signature on the paperwork. At this point she may be entitled to some of the house - although you could argue otherwise in a court of law... it may actually end up being cheaper to do that than pull out.

claret_mike

Could you afford a mortgage on your own (i.e. the amount needed to be borrowed and the monthly payments?

If you can, do that and then speak to your solicitor about the possibility of seeking to exchange contracts again but just in your name. If you need her approval, it may be that you have to speak to the sellers and agree something between you that you pull out and then start again but in essence no further money is exchanged and you will pay their costs for any additional legal work on their side?

You could always rent a room if it helps with the bills to recover some costs or make it more affordable for you.

Clearly if you only got the mortgage on her affordability then you may just have to walk away and I am guessing the costs involved will be far less than the hassle and pain involved going forwards with an unwanted partner on the house/mortgage who you have to get signatures from etc.

billa_champion

Dicky2K wrote: »

Doesn't look too good does it. Almost as though it was planned.:(

Feel for you and I hope it works out. Unfortunately, it does look like it was planned.:(

Thrugelmir

Going through with completion then marketing the property for sale. Maybe the option with least financial downside.

kingstreet

Can the solicitor complete, knowing one of the purchasers may/does not wish to complete the transaction?

Does solicitor report to lender? Lender position?

Annisele

Dicky2K wrote: »

Basically I've just completed a purchase of my first house with my partner, we signed contracts to exchange keys on the 17th of January.

Did you sign the contracts, exchange them, or complete?

Usually you sign the contracts first, then your solicitor exchanges them with the other party, then you complete. If you've signed but not exchanged, you can still pull out. If you've signed and exchanged, you can't (at least, not realistically).

You need to contact your solicitor asap and find out where you are.