Mortgage nightmare

Wakeham82

I am currently in a situation where I am on a mortgage with an ex partner. The house I am in is £30,000 in negative equity and my ex partner is trying to force my hand in to going bankrupt. At the moment I am currently married with 2 young children.
I have contacted my bank to ask about getting my ex partners name removed from the mortgage but they have said that I am unable to take the house on in my own name. I somehow think that the providing bank would rather put me on the mortgage solely rather than taking a loss through bankruptcy.
Any help with this situation would be greatly appreciated as my marriage seems to be getting torn apart.

MortgageMamma

what action is your partner taking to force your hand into becoming bankrupt? do you have a solicitor helping you?

ACG

Your ex can go bankrupt, that has no impact on you and certainly does not mean you have to go bankrupt.

I would suggest you speak to a solicitor.

Your ex can not just choose to go bankrupt, she either has to pay (£750 I think) or "hope" one of her creditors make her bankrupt.

If you carry on making the payments to the Mortgage and your other bills then you should be fine.

Floxxie

How is your ex partner forcing you into bankruptcy?

How do you hold the property - as joint owners or tenants in common?

Do you and your ex partner have £30000 to cover the negative equity if the property was sold?

Wakeham82

She is refusing g to sign any paperwork to do with the house. Currently I am trying to pursue her to sign consent to let forms to be able to rent the house until such time the negative equity has cleared or is lowered enough that I am able to pay it back.

Wakeham82

It is a joint named mortgage. I certainly do not have the 30 grand to pay back the negative equity.
She is refusing to sign any paperwork to deal with the house and has told me she won't sign unless it it handing back the keys and filing for bankruptsy.

Thrugelmir

So you don't live in the house?

Wakeham82

I had moved out of the residence last week to eneble to property to be let out. She has since went and told the letting agent to remove the house from the market as she doesn't give consent.

AnotherJoe

So could you live in the property ?

Wakeham82

yes i could live in the house. the problem then arrises if something were to happen to myself, the house would then belong to my ex partners name so my wife and 2 children would have nowhere to live.

mrginge

Wakeham82 wrote: »

yes i could live in the house. the problem then arrises if something were to happen to myself, the 30k debt would then belong to my ex partners name so my wife and 2 children wouldn't have to pay it and could rent somewhere else instead

There you go mate, problem solved.