splitting up

vicnix

hi there.
i have a mortgage with my now ex partner. we both still live in the property as neither wants to leave. after months of going back and forth she has now decided that she will accept my offer to buy her out. i have the money to give her but i cannot remortgage at the moment to get her name off the property as i have just started a new job. my question is:

is there a way to pay her so that she can leave the property and sign something stating that as of such a date she will have no part in the property and as so as i am in a position to remortgage she will have to sign the papers.

i hope this all makes some kind of sense and hope there is a solution to my situation as im struggling to find a solution to this.

glosoli

You would really need to seek legal advice but my initial impression is don't pay her a penny until her name is removed from the deeds, as doing anything otherwise could be a headache in the future. It is best to resolve these matters at the same time.

In terms of starting a new job, this isn't really a game changer as far as the mortgage is concerned. Could you elaborate on what your income is, how much the mortgage is and what the situation is with your employment is?

hunt85

It doesn't matter that you've started a new job. You can get a mortgage with just a contract you dont even need your first payslip with a lot of lenders.

Thrugelmir

vicnix wrote: »

is there a way to pay her so that she can leave the property and sign something stating that as of such a date she will have no part in the property and as so as i am in a position to remortgage she will have to sign the papers.

From your ex's perspective. This still leaves them on the mortgage. Jointly and severally liable for the debt. (The lender has no interest in your private arrangement). Unable to purchase a property of their own. Trusting that you'll will be able to remortgage soon. There's the obvious concern that you don't, which could be for a whole variety of reasons.

Onus is on you to remortgage is my personal detached view.

vicnix

hi

ok so ihave 92000 left on the mortgage and the new job will pay approx 28000 per annum.i only have a small loan of about 700 but im going to pay that off at the end of the month. i also have a credit card with about 6000 owing.

i have been paying the bills and the motgage for the last couple of months as she has decided she doesnt have to pay anything now........

oh and i nearly forgot...... her mother lives with us also!!!!!!!!!!!!

glosoli

Her mother lives there also, and they are both living there rent free? Sounds like a complete and utter nightmare.

Getting a new job isn't a barrier to obtaining a mortgage, you should really contact a broker ASAP to get it sorted out.

vicnix

many thanks for the advice. i got appointments with solicitors and bank next week so fingers(and everything else) crossed it goes according to plan and i can get rid of these squatters very soon........