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Hi,
My name is Julie I’m new I hope someone can help!
I bought a house with my now ex-husband in 2007 just before the recession hit.
We split up due to a violent episode (him) and the house was in negative equity. I applied and was granted a divorce but as the property was in negative equity (Northern Rock) was told debt was not part of the divorce it was just 50/50.
I continued to pay the mortgage on my own until June 2016 after which I rented the house out. My ex husband paid nothing at any point including the deposit and as the house was in negative equity I wasn’t in a position to sell or remortgage with my sole income.
I want to convert the mortgage to a BTL as NR are offloading debts and not offering further products due to their demise. They are aware the property is rented and have done nothing.
The rental income is £200 less than the mortgage, so does this count as a contribution on his part?
He has asked in the past to remove his name but I was unable to due to affordability checks and I didn’t want to sell due to the significant investment on my part.
He now wants money for his share, how do I work this out without involving the courts?
thanks in advance,
BB
My name is Julie I’m new I hope someone can help!
I bought a house with my now ex-husband in 2007 just before the recession hit.
We split up due to a violent episode (him) and the house was in negative equity. I applied and was granted a divorce but as the property was in negative equity (Northern Rock) was told debt was not part of the divorce it was just 50/50.
I continued to pay the mortgage on my own until June 2016 after which I rented the house out. My ex husband paid nothing at any point including the deposit and as the house was in negative equity I wasn’t in a position to sell or remortgage with my sole income.
I want to convert the mortgage to a BTL as NR are offloading debts and not offering further products due to their demise. They are aware the property is rented and have done nothing.
The rental income is £200 less than the mortgage, so does this count as a contribution on his part?
He has asked in the past to remove his name but I was unable to due to affordability checks and I didn’t want to sell due to the significant investment on my part.
He now wants money for his share, how do I work this out without involving the courts?
thanks in advance,
BB
