What should i do

maidmartha

Im in a dilema my husband and i separated last year and he wanted his share of the house but stayed in the house while he waired for his money., in the meantime i met this what i thought was a very nice chap who i started to date he then offered to but my husbands share of the house and move in with me BIG mistake! he is driving me nuts i really dont like him and have told him we have to part which means he wants his money. He has only a restriction on the house and cant force me to pay him off quickly or force me to sell to pay him off unless he goes to court which will cost him an arm and a leg. This house means a lot to me i have lived here for 30Yrs and its my first and only home and i love it so my only option is to raise the money £83000 interest only on a 10yr fixed rate which is £403 pm and pay the balance with my mothers house which will come to me eventually or do i sit back and wait till rates come back down or bite the bullet and do it now as im scared as im 54yrs old what other option do i have because he has to go its making me ill HELP!!

Lotus-eater

Just bumping this up for you.

It sounds like a bad situation you are in. I don't know all your options, but I'm sure someone will.
Tbh you have a unhealthy need to stay in your own house and that may cause you trouble in the future. If you can afford to pay a mortgage for the next ten years, then do it, but reading between the lines I don't think you can. Putting off paying the capital costs may be a risky thing to do, what if something goes wrong and you don't get the money from your mothers house?

Anyway, good luck and don't do something silly that will bu**er you up financially for the rest of your life.

martinman3

You mention separating from your husband but are you divorced ?

The other man paying half of the house cost to your husband sounds very informal. Please tell me that this was done as part of the divorce settlement and that solicitors were involved.

I think that you may eventually come to realise that you are not able to keep the house and the episode with the other man was an act of desperation. Renting could be a much better option for you assuming you can sell.

p.s. You can always live in your mothers house.

UK007BullDog

What is your income before tax?

Current value of the house?
Current mortgage on the house?
Any other debts you might have?
Any other regular outgoings you have to pay? Like towards your mom?

As already mentioned it could be that you might need to look into selling up and downsizing. Have you ever thought how you would support your house and costs when retired? Have you got a good pension coming in to cover all costs in the future? You might find that once you are 65 you can no longer hold the property anyway or you might have to continue working.

What kind of arrangement was made with your boyfriend?
Do you have any kids who could help you out?

happybroker

If you had come to me regarding this I would have said speak to a good solicitor before doing anything.

Try and find a solicitor that offers a free initial consultation, preferably one that comes with a recommendation from somebody you know and take any formal agreement that you and this man have with you.

I completely understand that your situation must be incredibly difficult and stressful but a investing a bit of time bending the correct ear could save you fortunes and no end of emotional turmoil in the future.

A lawyer should tell you straight away what your options are.

Good luck, I really hope you get this sorted, I registered just to post this!