Told wife I want a divorce and her to buy me out of the house!

GobbledyGook

thorsoak wrote: »

This is correct - the son of friends divorced, his wife remained in the property and she was responsible for paying the mortgage and he remained on the mortgage. Three years later, she defaulted, the house was repossessed and they were both held jointly and severally responsible for the debt - and there was a shortfall in the region of £60k:eek: She refused to have anything to do with the mortgage company which then went for her ex - demanding the £60k from him. As he was paying maintenance for their 2 children on virtually nmw whilst she was apparently "living the life of Riley" with a new partner, he eventually went bankrupt. He now seems to be rebuilding his life again, but ex-wife is complaining bitterly that things aren't fair, as the mortgage company has now started chasing her again.......

Similar happened with my BIL. He bought a flat with his girlfriend when he was 19. They split up a year later and between them they decided that as it was in her hometown she'd take it on completely. He couldn't come off the mortgage as her income is massively supplemented by overtime that the lender obviously wouldn't consider as it could be withdrawn. He was going to be living either with his parents or with us so wasn't overly bothered about getting another mortgage at that point.

3 years later she gets made redundant, gets herself in a huge financial mess, a couple of lates/defaults on mortgage payments (which in her defence she kept making to the sacrifice of bills like council tax which got her in a huge mess). She couldn't sell because she didn't have the money for upfront fees.

Thankfully she was really honest and before it got too far got in touch with him because he hadn't given the lender his new address or anything!