Singed a mortgage at 20 with her mother!

MattKing95

Hi guys 

me, our baby son and my fiancée are living a nightmare, stuck inside a house with her separated mother. K has been signed into this 140,000 mortgage since 06/18, and was unfortunately done so under the pretences she would be able to get out at some point to start her own life. It’s is 3 years on and our life is starting off but her mother won’t consider buying her out of the mortgage or sell the property. Instead she expects us to sit tight and wait another 12 years ! By which my son will be going to high school, and living in a room no bigger than a shoebox!  

We looked at seeing if we could sell K’s part of the house back to HSBC, but are wanting to find out our full legal options. 

Any advice we really need out, and I know K was put on this mortgage through emotional guilt and pressure, and wants out so bad she’s thinking of even postponing our marriage to do so! 

sparelogin

HSBC don't buy houses. And they certainly won't be interested in buying half a house and living with your partner's mother.

Its definitely a good idea to postpone the marriage if it means getting the situation sorted quicker. But the issue is how are you going to convince her mother to sell. Is your partner paying towards the mortgage at the moment?

SpiderLegs

I assume that the option of moving into this property or in some other way making life very difficult for the mother isn’t really possible.

The only solutions to this therefore require one of two things -
1. The mother having the desire and the means to take over the mortgage.
2. the OP and fiancée having a large pile of cash.

Since (1) appears to be off the table, I can only suggest the OP gets saving.

big_saver_5

Can you move to rented and mum takes a lodger to help her pay the mortgage?
If mum cant afford the mortgage on her own she cannot afford to buy your partner out so it is a case of selling the property or her getting someone else in to cover your partners contribution 

[Deleted User]

MattKing95 said:

Hi guys 

me, our baby son and my fiancée are living a nightmare, stuck inside a house with her separated mother. K has been signed into this 140,000 mortgage since 06/18, and was unfortunately done so under the pretences she would be able to get out at some point to start her own life. It’s is 3 years on and our life is starting off but her mother won’t consider buying her out of the mortgage or sell the property. Instead she expects us to sit tight and wait another 12 years ! By which my son will be going to high school, and living in a room no bigger than a shoebox!  

We looked at seeing if we could sell K’s part of the house back to HSBC, but are wanting to find out our full legal options. 

Any advice we really need out, and I know K was put on this mortgage through emotional guilt and pressure, and wants out so bad she’s thinking of even postponing our marriage to do so! 

As @sparelogin says, HSBC aren't in the business of buying houses or shares in houses.  K can however take her mother to court to force the sale of the property.  It's not a quick process so if it's something K wants to do she needs to get started sooner rather than later.  Other options would be for you to move out into rented, to buy your own place, to buy mother out and let her go into rented or for her to buy somewhere with the proceeds of the sale.

I'm not sure why this situation needs to result in the postponement of your wedding.