Help Please/ Ex wont release from the mortgage

Jules_Fran

Hope someone would kindly help me as I am struggling to find the best solution. Two years ago, me and my ex-partner (never married), bought a house. 50% was owned by us and the other half was owned by Key Homes. when the relationship broke down, he initially agreed that we should sell the house. But situation inside the house got horrible (he is verbally abusive), that I had to seek the help of friends. I only sought a solicitor in the end , as he constantly demanded and accused me a lot of things. During this time, he seemingly agreed for the selling of the house then after a couple of months he changed his mind and said he was going to buy my share. This hurted me and I feared that it was going to make things more complicated and I am only interested in getting my name off the mortgage. After a couple of months, I agreed but then me and my lawyer waited for him to make an offer. To make the story short, the whole process ended me having to submit my case in court. But because of the continuing court and lawyer fees not to mention the fee for the whole court process ( i was told to pay around 10-15 thousand pounds), I withdrew the case. He then offered to pay me but my lawyer felt that he undervalued my house. Upon adding the fees and the Capital gains tax i have to pay, im going to end up more negative. I am thinking now of withdrawing entirely from the whole situation as I am already in debt . What can possibly happen if I do this? I am not interested in having a mortgage either. Just to live peacefully and away from this man. I am full time and still working but cannot do extra work because of my disc prolapse. (I didnt mention this to my lawyer).
I also found out just recently that my ex partner had changed banks for the mortgage. Is this possible? Allowed?
There was also a fire that happened in the property (but he didnt inform me).

Im really really lost. Please help. should i just let it go?

Guest101

Jules_Fran wrote: »

Hope someone would kindly help me as I am struggling to find the best solution. Two years ago, me and my ex-partner (never married), bought a house. 50% was owned by us and the other half was owned by Key Homes. when the relationship broke down, he initially agreed that we should sell the house. But situation inside the house got horrible (he is verbally abusive), that I had to seek the help of friends. I only sought a solicitor in the end , as he constantly demanded and accused me a lot of things. During this time, he seemingly agreed for the selling of the house then after a couple of months he changed his mind and said he was going to buy my share. This hurted me and I feared that it was going to make things more complicated and I am only interested in getting my name off the mortgage. After a couple of months, I agreed but then me and my lawyer waited for him to make an offer. To make the story short, the whole process ended me having to submit my case in court. But because of the continuing court and lawyer fees not to mention the fee for the whole court process ( i was told to pay around 10-15 thousand pounds), I withdrew the case. He then offered to pay me but my lawyer felt that he undervalued my house. Upon adding the fees and the Capital gains tax i have to pay, im going to end up more negative. I am thinking now of withdrawing entirely from the whole situation as I am already in debt . What can possibly happen if I do this? I am not interested in having a mortgage either. Just to live peacefully and away from this man. I am full time and still working but cannot do extra work because of my disc prolapse. (I didnt mention this to my lawyer).
I also found out just recently that my ex partner had changed banks for the mortgage. Is this possible? Allowed?
There was also a fire that happened in the property (but he didnt inform me).

Im really really lost. Please help. should i just let it go?

1: there's no way he remortgaged without your permission.

2: basically your solicitor is right 10k is about the cost to force a sale

3: you can't just remove yourself from the mortgage

4: if you stay on it, you are liable for the full cost

5: ate you joint tenants or tenants in common?

Jules_Fran

We are joint tenants. Both our names are on the title.
I have only reached the option of letting it go and walking away, as the amount of lawyer fee and my own personal debt are mounting. Im pretty sure i have no desire in ever buying a house or having a mortgage again ever.
And ive got a personal debt that i need to pay.
i also felt that , in most cases the one who wants the entire house and who desires to keep it will be the one who , without doubt want to be the sole owner. So getting my name of the mortgage is the best option for them.
But in my case, i had tried every cooperative action to state that im more than willing for him to have the property , as long my namr is written off the mortgage and he at least give my share in the house.
He did offer a certain amount of money, but it is obvious and as my lawyer has stated that he undervalued the property. ( i was willing to take this..amount)..
But what he is not saying is that he will take my name off the mortgage.

Aside from this, i was notified that i need to pay capital gains tax.
Cannot afford an accountant sir.
And i was wondering if i take his offer.. How much would i have to pay for this..?

Im struggling. As im trying to find a way which is less costly and less financially unpleasant .

Guest101

Jules_Fran wrote: »

We are joint tenants. Both our names are on the title. - Just to be clear, that doesn't necessarily mean you're 'joint tenants'. Anyway, assuming you are, be aware that the laws on inheritance are simple, if one party dies, the other retains the whole property
I have only reached the option of letting it go and walking away, as the amount of lawyer fee and my own personal debt are mounting. Im pretty sure i have no desire in ever buying a house or having a mortgage again ever. - Or any other kind of credit?
And ive got a personal debt that i need to pay. - Take a look at the debt free wannabe forum.
i also felt that , in most cases the one who wants the entire house and who desires to keep it will be the one who , without doubt want to be the sole owner. So getting my name of the mortgage is the best option for them. - You cant just walk away. The mortgage company wont allow that.
But in my case, i had tried every cooperative action to state that im more than willing for him to have the property , as long my namr is written off the mortgage and he at least give my share in the house. - Well that's all you are entitled to? Or you could move back in?
He did offer a certain amount of money, but it is obvious and as my lawyer has stated that he undervalued the property. ( i was willing to take this..amount)..- Get your own independent valuation done. Surveyor fee approx. £600
But what he is not saying is that he will take my name off the mortgage. - He cant. You cant. It doesn't work like that.

Aside from this, i was notified that i need to pay capital gains tax. - You might, but I wouldn't worry about that too much. The tax is not going to be more than you get.
Cannot afford an accountant sir. - You don't need an accountant?
And i was wondering if i take his offer.. How much would i have to pay for this..? For CGT? Well it sounds to me like you're covered by your personal allowance.

Im struggling. As im trying to find a way which is less costly and less financially unpleasant .

He needs to repay the mortgage before your name is taken off. it's that simple. If he cant, then you stay on it. (or you pay it off)