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Mortgage after relationship breakdown
bosrebel
Posts: 11 Forumite
Hi, my partner and I are going our separate ways.. I want to stay in the place we have a joint mortgage on. I have a child (not his) , and i know he cannot force me to sell.. I do work and can cover the mortgage etc etc, which is cheaper than renting! Whats the chances of the bank letting me keep up thr the payments and removing his name from it.... If they say no i will refuse to sell?! He wants his 20 grand share of the property.... What are my options?
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Can you afford the mortgage and to pay your ex his share of the property? This is the crux of the matter.i know he cannot force me to sell.
There's an option through the courts to do so. Very expensive and costly. Neither of you will benefit if this was the case.0 -
He can actually force you to sell the property through a lands tribunal. As Thrug said, it is expensive as its land law not divorce law.
Maybe set out your income, expenses, property value and required mortgage on here and see if its " doable" or not.Stuck on the carousel in Disneyland's Fantasyland
I live under a bridge in England
Been a member for ten years.
Retired in 2015 ( ill health ) Actuary for legal services.0 -
And bear in mind that it's not fair on him to keep his share of equity locked up in a property he doesn't benefit from.0
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Hi, my partner and I are going our separate ways.. I want to stay in the place we have a joint mortgage on. I have a child (not his) , and i know he cannot force me to sell.. I do work and can cover the mortgage etc etc, which is cheaper than renting! Whats the chances of the bank letting me keep up thr the payments and removing his name from it.... If they say no i will refuse to sell?! He wants his 20 grand share of the property.... What are my options?
will your income support the current mortgage plus the £20k?
the bank would remove his name once he is no longer party to the mortgage. If you cannot get a mortgage for the outstanding amount, is he prepared to wait for the equity and stay on the mortgage meaning potentially cannot get another mortgage?0 -
My brother has a slightly different issue. He is getting divorced soon. His ex-wife will stay in the marital home with his daughter. He pays the mortgage as well as CSA. Does anyone know if he can get a second residential mortgage. I would lend him a deposit if he only required 10%.0
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Raffa - you would have been better starting a new thread but it may be possible to have 2 mortgages if his income can support both0
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Ok Caz thanks0
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