how do I hand my house back to the mortgage company?

[confused71]

Hi

I have had my house for 10 years on a mortgage, I recently split with my boyfriend of 17 years, and moved out of the property in August 2014, I have now living in a house share. Upton until Jan 2015 I was making full payments on the mortgage, but I had to stop as I left my job and I am now on JSA. My ex partner is still living at the property and he has not been making any payments to the mortgage. He has emailed me a copy of the a letter from the mortgage company stating install 8 months in arrears and they will be taking us to court. He is adamant he's not going to may payments.

The mortgage is in joint names.

I no longer want the property and I have been advised by friends to cut my losses and hand back to house to the mortgage company, but I don't have any keys, my ex does.

The mortgage company are not nice people to deal with.

Please could someone advise me how to go about this?

Thanks

Confused71

[wales01man]

Re: how do I hand my house back to the mortgage company?

You will have to deal with them or wait for Court Action is the ex still living there

[confused71]

Re: how do I hand my house back to the mortgage company?

Yes my ex is still in the property and has the keys.
Will I still have to go to court to hand the house back?

[wales01man]

Re: how do I hand my house back to the mortgage company?

You both will be taken to court if its a joint Mortgage and a repossession order can be obtained and an eviction order to remove him or other occupants all the costs will be added to your joint account

[Esio Trot]

Re: how do I hand my house back to the mortgage company?

You both will be taken to court if its a joint Mortgage and a repossession order can be obtained and an eviction order to remove him or other occupants all the costs will be added to your joint account

AND once the court action starts, costs will rise exponentially. If they exceed the net price realised when the property is sold, they will pursue you - and can for 12 years.

A chap I met recently, though mental illness, had council tax debts of a shade under £4,000. He had a mortgage with 5 years remaining of the original 25 and a balance of £15,000 on a property worth £80,000. Two years later the costs had escalated to over £70,000, the property repossessed and the owner was bankrupted.

Be wary of the costs, but it looks like you are caught between a rock and a hard place.