Can I be forced to sell?

chelseablue

Cant believe I'm having to ask this but need to get my ducks in a row.

If my partner (we're not married) were to leave, would I be forced to sell the house?

I would remain in it with our 3 year old

I can afford the mortgage and all the bills on my own.

I'm guessing (well, hoping!) that a judge wouldn't force me to sell my sons home if I could afford it on my own?

Ideally I'd like to stay there and save up and give him what he's owed

stator

Are you Joint Tenants or Tenants in Common ?

chelseablue

stator wrote: »

Are you Joint Tenants or Tenants in Common ?

Tenants in Common

YHM

If you can afford it on your own, why not just transfer the mortgage into your sole name?

For a mortgage circa £225, I'd expect a need for 50k as income. Is this achievable?

chelseablue

YHM wrote: »

If you can afford it on your own, why not just transfer the mortgage into your sole name?

For a mortgage circa £225, I'd expect a need for 50k as income. Is this achievable?

Mortgage outstanding today is £219,000.

Income is £40,000

Mortgage lender has advised the max I could borrow on my own is £190,000 so I would want to overpay as much as I can then when its down to that level I could remortgage in just my name

YHM

Does that income include any agreed maintenance / child benefit?

chelseablue

YHM wrote: »

Does that income include any agreed maintenance / child benefit?

Yes it does,

My salary is £35,000 (not including yearly bonus)

Child benefit is £1,066

Child maintenance of £3,600

Total £39,666

My lender told me they would take child maintenance into account as long as they could see it going into the bank every month

YHM

If you can add another party (friend, family member) to the mortgage in place of your ex, then that is the easy solution.

chelseablue

YHM wrote: »

If you can add another party (friend, family member) to the mortgage in place of your ex, then that is the easy solution.

Unfortunately no one I can add.

We are tenants in common with unequal shares, me 70% and him 30%.

I don't mind selling in a few years if I had too, I was just hoping to be able to save up the money instead to pay him what he's owed.

AnotherJoe

What about selling and buying a smaller place, one that costs 70% as much as this house ?

Comms69

Does that include buying him out?


Basically he has money tied up in the property, so you need to factor that in too.


Ultimately yes you can be forced to sell the property, but it is unlikely at this stage. More likely is that the property is sold when child reaches adulthood. But the partner would be potentially entitled to a percentage of the property even though you had paid it off. (ie he has lent you the balance)