Help needed

Smellitt_88

Hi
I have a mortgage in joint names with my now ex partner. He has not been living at the property for approx 3 & 1/2years now. Since we took the mortgage out I lost my job, became self employed however this was only short lived as I fell pregnant with somebody else's child and suffered a very difficult pregnancy. I therefore am now in receipt of benefits.

Amongst all of this my ex partner issued an application to court for sale of the property and he won (despite him having a child residing at the property). The house was up for sale however there was very little interest. My ex partner proposed to me that I try to raise £15,000 to buy him out basically which I agreed to. My credit isnt the best and do have a couple of outstanding debts. I doibt I'd get accepted for a loan to pay him off. Is it possible I could release money from the property to pay him? It was valued at £130,000 and outstanding mortgage is approx £83,000. I feel I am stuck in a rut and dont know the best way forward. I have his 10year old daughter living at the property and he only gave me 12months to pay him off which is up in March next year.

foxy-stoat

Total debt will be circa £100,000 - does your income support a mortgage of this size?

Will the new child's father be on the mortgage as well?

At the moment there is £47,000 of equity so your ex is willing to lose out on the £23,5000 so worth trying to keep the house, but failing that sell it and you should have £30,000 cash for your next property.