Cutting ties with abusive ex, joint mortgage, negative equity, potential prison

cutepuppy12

Long story short, when I was 20 years old I purchased an apartment with a boyfriend. We tried to sell the property a few years ago upon a nasty, long time coming separation, but ended up messed around by a sale that took over 12 months, by which point the property fell into negative equity and has continued to drastically reduce.

Additionally, it is likely he will be going to prison for a few years. He has no interest in the property, and hasn't been contributing to any of the payments in a while. Neither of us live there (or want to/can), so the property is rented out, which just about covers the mortgage, but not the service charges.

Since the initial sale falling through, he has refused to sell the property, and has commented to say it pleases him to see me suffer.

The negative equity is at least 80K, I'm not sure I'll be able to remortgage when the two year fixed term ends in the next 3 months.

I have briefly explained some of the DV circumstances to the lender, but they unfortunately cannot do anything about it.

Do I have any other realistic options than declaring bankruptcy?

Catonthemoon

Presumably, you both purchased the apartment on a 50/50 basis?

If so, you will both be “jointly and severally liable” for any debt that arises in connection with it.

If not already aware, you might want to advise him that this could have severe consequences in terms of getting credit in future (mortgage, credit cards, phone contracts).

If he couldn’t give two hoots about any of that, then you’re in a bit of a pickle!

RAS

This is is a duplicate thread.

cutepuppy12

https://forums.moneysavingexpert.com/discussion/comment/81980185#Comment_81980185

From what I've read on the internet, the bankrupcty will cover me for the shortfall/losing the property, but the bank will then turn to him to cover it?