Is there any hope?

Emerald_sunshine

My ex partner and I separated 6 years ago, we weren’t married but have two children together. Straight after I was being supported by Refuge due to domestic abuse.

We have a shared-ownership property together which we are joint tenants (on rent and mortgage). Unbeknownst to me, my ex stopped paying his half of the rent a few years back and last year stopped paying his half of the mortgage (in retaliation to the CMS forcing him to pay maintenance). The bank are looking to start repossession.

Unfortunately due to being caught in the cladding saga we’ve been unable to sell the property and doesn’t look like we’ll be able to for some time (plus I don’t think my ex will sell). It will cost too much money upfront to rent the property out so that’s not an option.

The rent account and mortgage are both in arrears and it’s now affected my credit rating and I’m being declined for things. I am desperate to be rid of him from my life, and this is the final piece.

 I am unable to buy him out, although I’ve made a few offers and they’ve been declined. I’ve also asked him if I could afford 100% of costs would he sign a document to make the split fare when we can eventually sell and he declined this also.

I seen a solicitor yesterday that simply said there’s nothing I can do and I don’t have any options.

I’ve been advised about TOLATA but apparently is very expensive. If I sever the joint tenancy to be tenants in common would the debt he’s accumulated no longer effect me?

Does anyone have any ideas? I’ve made hundreds of phone calls and feel like I’m drowning.

Having read some other threads on here I was very nervous about posting so please be kind.

Thanks for reading x

Brie

Harsh as it sounds perhaps repossession is the best option.  That way you'd be away from the situation and can start fresh.  My guess would be that the bank will put the place up for auction and with a cladding issue you might not clear what's left to pay on the mortgage.  

It might be good to sever the tenancy because if there is anything owing on the mortgage after the sale you will both be responsible for the full amount.  It won't matter that you've been paying and he wasn't.  So if there's still £10k owing the bank could come after you for the full amount if he doesn't pay anything.  The kick in the teeth is that also if there is a profit on the sale the bank will split that evenly between you.  

Sorry I can't offer anything more positive for you on this.

Savvy_Sue

Have you spoken to Refuge / Women's Aid? They are the expert in this kind of financial abuse situation. There may not be any hope, but I'd want to hear it from them first. 

fatbelly

The posession process is long and drawn out. I usually advise that it's in both sides' interest to settle at a market price.

However if there ate no buyers for what you have then it becomes difficult.

Shelter are well placed to advise

You should discuss the situation with the bank. Ask if they have an Assisted Voluntary Sale scheme.

How much equity are we talking about or it it definitely in negative equity?

silvercar

Ironically the cladding issue puts time on your side. The mortgage lender won’t want to sell at a very much reduced price due to no one being able to get a mortgage until the cladding is sorted. So they may be pragmatic and allow you to remain in the property.

I assume you are living in the property, with your children, and he is elsewhere. He stopped paying the mortgage and rent when he was required to pay maintenance. Whether it was retaliation or due to him having the costs of living elsewhere we don’t know. But maintenance can be used to provide a home for the children.

I’d be in touch with your lender, emphasising the cladding issue, so they give you as much time as possible. Ideally you want him off the mortgage, but a lender may not want to agree to this, particularly while there are arrears.

Emerald_sunshine

@brie thank you. If I apply to Change from joint tenants to tenants in common would I still be liable for the debt so far.
Would there be any benefit to me doing this?
Thank you

fatbelly

It wouldn't change anything in relation to the possession process

Emerald_sunshine

@fatbelly
I’m trying to distance myself from “the debt owed by him” and future debt incurred if at all possible?

fatbelly

I can't see any advantage to it unless he is willing to agree to take a percentage smaller than 50%.

Even so, are we talking about much potential equity here? 

If this is in negative equity, then the mortgage shortfall debt is joint and several, as would be the rent arrears. You won't be liable for other debts just because your credit files are linked

sheramber

The mortgage and rent are joint debts and do not separate  who pays what.

How the house is owned doesn't affect the mortgage or rent contract you both signed jointly.

T.T.D

You can’t distance yourself from the debt, as far as I read your posts you are both equally liable for the balance of the mortgage, changing the rent agreement to tenants in common still wouldn’t distance you from the debt you owe. 

Repossession may be the best way out and then try and resolve what ever debt is left with a DRO? 

Him not paying puts him in the same position as you so I see no benefit if his actions, just stupidity. 

I would get hold of women’s aid and ask them is there any support they can offer you to help resolve this, there maybe a financial adviser or someone that he’ll you outs