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Advice Please
Barny1979
Posts: 7,920 Forumite
Bought a house with my gf, we split up over a year ago. She has continued to stay there, I wish to take the mortgage on, she is fine with this, but, there is a shortfall on the mortgage of £14k approx. She is not prepared to give me any money to cover the extra. The mortgage was to pay off loans. Where do I stand? She says she can't afford a loan and to rent, so resulting in me not being able to take the mortgage on myself. She also claims that she has been advised that as the house has gone up by £5k since we bought, she is theoretically entitled to half the "profit".
She claims as the house price could go up, then I would reap the benefits of having the house just in my name.
Where do I stand with this?
She claims as the house price could go up, then I would reap the benefits of having the house just in my name.
Where do I stand with this?
0
Comments
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I can't understand the financial breakdown of the above at all.
What sort of a shortfall on the mortgage?
What/whose loans?
She might be entitled to half the profit, but she'd need to pay half the selling fees (even though it isn't sold now, it will be in the future). Which is about the same probably.
House prices could go up... but they've so far gone down.
When was it valued? And by who? It's probably already worth less.0 -
There is a shortfall of £14k due to the mortgage being more than 100%.
We paid loans off, both mine and hers.
It was valued just over a month ago.0 -
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So, you are saying the mortgage is made up of:
1] mortgage
2] your debts
3] her debts
It's hard to work out what's what without any figures.0 -
It would be a change of deeds.
The mortgage is £150k
The house is worth £136k0 -
I assume if at remortgage in Nov 2009, if there was still a shortfall I would have to pay the loan back due to little mortgage companies do 100% mortgages0
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