Mortgage after a breakup

robbo88

Hi All,

Me and the fiancee have split up. She moved back to her mums house and im living in our 2 bedroom terraced house. Ideally i'd like to keep the house, I can afford the mortgage repayments + bills on my own.

I've done some reading up but im not entirely sure on my options.

My salary - 28k

Mortgage - 96k 3 year fixed, however theres a 4% charge for early exit so its essentially 100k). This is a joint, not tenants in common.

House is worth between 115-120k

I assume my options are:

- Sell house and split anything left between us (not ideal!)
- Buy her out (how do i do this? can i simply borrow more money on the mortgage?)

I know she is joint liable for the mortgage, however if she refused to pay would this allow me to not have to buy her out and i could simply have her removed from the mortgage?

Thrugelmir

You'll need to apply for a mortgage in your own right.

An issue may arise in raising sufficient funds to buy your ex partner out. If you are unable to borrow more then you've a problem to overcome.

Whether she contributes to the mortgage or not is a matter between you and her. Makes no difference to the legal standing of the existing mortgage.