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Joint Mortgage Help - Seperated
danjacko25
Posts: 2 Newbie
Hi all,
Just looking for some advice/suggestions if anyone can help?
I bought a brand new house in 2007 with my partner at the time - the mortgage is 50:50 but sadly has only been on interest only. We split up in 2012 approximately and I have continued to live in the property and pay the mortgage myself.
Outstanding mortgage is £143k.
House valuation is £140-142k.
What are my options?
My ex partner would like her name removing off the mortgage as she has now moved on, gotten married and had her first child. I believe she is only renting now as she cannot get a mortgage.
I don't particularly want to keep the house - I'd like to start again and buy somewhere new with my new partner.
For obvious reasons, my lender will not allow me to remove her name from the mortgage as there is not enough equity in the house. They asked for £22k before they would allow me to make any changes.
Any advise/suggestions would be greatly appreciated. Thankyou for reading.
Just looking for some advice/suggestions if anyone can help?
I bought a brand new house in 2007 with my partner at the time - the mortgage is 50:50 but sadly has only been on interest only. We split up in 2012 approximately and I have continued to live in the property and pay the mortgage myself.
Outstanding mortgage is £143k.
House valuation is £140-142k.
What are my options?
My ex partner would like her name removing off the mortgage as she has now moved on, gotten married and had her first child. I believe she is only renting now as she cannot get a mortgage.
I don't particularly want to keep the house - I'd like to start again and buy somewhere new with my new partner.
For obvious reasons, my lender will not allow me to remove her name from the mortgage as there is not enough equity in the house. They asked for £22k before they would allow me to make any changes.
Any advise/suggestions would be greatly appreciated. Thankyou for reading.
0
Comments
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Sell it seems the obvious answer.
0
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