Joint mortgage relationship breakdown

Wanda82

Good evening all,

I'm very much a newbie so please excuse me my first point I will try to get across what I mean as succinctly as possible :-)

My fianc! and I have been together 6 years, prior to our relationship he had a long term relationship with someone and they had a child and bought a house together. The house was purchased in Dec 2007 and was purchased through a mortgage of £82500 and a deposit put forward by my fianc!es parents of £40000. This deposit was written up by a solicitor and stating that upon sale of the house £40000 is to be returned directly to my finances parents.

When my partner and I met in 2009 his ex remained in the home with their four year old son and paid the mortgage independently, my finances name is still on the mortgage. There were lots of issues in the early days including sever arrears ( that we were unaware of at the time) and the threat of repossession. However since around 2013 the mortgage has been brought back up to date ( by the ex) and us been being paid regularly by her and her new partner.

Now it gets complicated. We have had a phone call Thai evening to ask 'if she moved out would we (my partner and I)' be interested in the house. When question it surmises that her and her partner have split and she is not able to afford the house on her own.

My question is what happens now?? My partner and I would very much like the house of we could ( we have been looking for somewhere new and we rent at the moment) and we would happily take over the mortgage to maintain the property for his sons future and his parents investment. However she is under the impression that she would 'have some money' out of the scenario- I think she's hoping for us to buy her out, something we don't have the means to do. Question is what CAN be done?

We would like to secure his parents investment but also not lose the opportunity to own our own property: what are our options?

A gain apologies if I've rambled or anything is confusing please ask if you don't get what I mean as any advice is welcome.

I have no preconceptions, in all honestly I've I just wanted his name off the mortgage for some time preferable before we marry next year for quite sometime but with this new issue I don't know what our options are!!
Thanks in advance!

Muscle750

End of the day if the ex name is on the mortgage she just cant walk away and pretend it never was , I can see her wanting to be paid off as well. The only solution i can see is to sell up repay whats owing on the mortgage and split any remaining funds between your partner and his ex, Friend of mine thought he could walk away after leaving his wife and two children hes now with someone else and he has now found out that they cant get a mortgage because his name is still on the one he had with his wife now divorced which we all tried to tell him but he wouldnt listen, plus best part of it is the state are paying towards the mortgage because of the two children etc yet hes paying nothing yet when and if the house is sold hes going to reap the profit if any As i said you either buy her out or get her to agree to sell up and walk away