Trapped and can’t move on!

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Comments

  • TrickyDicky101
    TrickyDicky101 Posts: 3,513 Forumite
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    It would certainly have the benefit of drawing a line in the sand and not leaving an open-ended financial link in place. But the OP does need to understand the potential consequences - such as there being no concept of OP's partner's share of the negative equity. It's potentially all her's. Any legal costs incurred by OP/the partner may not be recoverable irrespective of whatever the judge's order is.

    It could be a very expensive process.
  • financegeek
    financegeek Posts: 140 Forumite
    Just a thought and not sure it'd work, but could your partner afford to clear the negative equity in full and give the ex partner the 10% deposit required to remortgage?

    They could then put a charge on the property for the deposit + 50% of the negative equity. That way if the ex ever decides to sell, your partner would get the money back from the sale / ex (if still in negative equity).

    not sure if mortgage lenders would like it and depends on you having enough liquid cash upfront to buy your new property, but might be something worth considering.
  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
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    How is your partner being named on a mortgage with her husband preventing you and your partner getting a mortgage for a difference property? Lots of separated and divorced people are named on two mortgages.

    FYI your partner is not legally entitled to charge her husband's partner rent for living in the property, technically or otherwise.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    Pixie5740 wrote: »
    How is your partner being named on a mortgage with her husband preventing you and your partner getting a mortgage for a difference property? Lots of separated and divorced people are named on two mortgages.

    FYI your partner is not legally entitled to charge her husband's partner rent for living in the property, technically or otherwise.


    And lots arent, because of affordability. Its a common issue posted here Pixie.
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