Joint mortgage/property with ex partner-sticky...I know

[wales01man]

Re: Joint mortgage/property with ex partner-sticky...I know

I would think the building society would not allow a name to come of the mortgage that easy stands to reason with 2 names they have 2 people to chase should you default

[MyRights]

Re: Joint mortgage/property with ex partner-sticky...I know

I would think the building society would not allow a name to come of the mortgage that easy stands to reason with 2 names they have 2 people to chase should you default

Sorry what do you mean? (Its probs obvious so im using the excuse that its late in the evening ; ) )

[IanM]

Re: Joint mortgage/property with ex partner-sticky...I know

Sorry what do you mean? (Its probs obvious so im using the excuse that its late in the evening ; ) )

Basically you would have to sell the property as a couple or you would have to charge rent to cover your share of the mortgage if you are not living there, unless your ex and new partner can get a joint mortgage to buy the property through the usual process then there aren't a lot of options available. If you own 20% of a property valued at 250K then you would be stupid to accept so little from your ex as they would be able to cash in later at your expense now. To be honest I would say hell to your ex and put the house on the market and let your solicitor handle the disbursements upon sale, i.e. equal shares to each mortgage holder.

[MyRights]

Re: Joint mortgage/property with ex partner-sticky...I know

Basically you would have to sell the property as a couple or you would have to charge rent to cover your share of the mortgage if you are not living there, unless your ex and new partner can get a joint mortgage to buy the property through the usual process then there aren't a lot of options available. If you own 20% of a property valued at 250K then you would be stupid to accept so little from your ex as they would be able to cash in later at your expense now. To be honest I would say hell to your ex and put the house on the market and let your solicitor handle the disbursements upon sale, i.e. equal shares to each mortgage holder.

We jointly own 40% of the property which is worth 100k as the housing association owns the other 60% (worth 150k) making the total of 250k. I think she has already enquired if she can get a mortgage as she is eager and quite organised.
Sometime i do feel like taking that route but i cant help but care and absolutely want to avoid bitterness due to the care for her and respect for her family. Yes she may benefit in the long run but so can i by taking the money and investing else where, but i dont know if the amount fair.
Adding to that, there is more work in that then taking our names off the deeds.

[IanM]

Re: Joint mortgage/property with ex partner-sticky...I know

" she said she no longer wanted any ties with me ",,, she wants rid as cheap as possible and is using your feelings to cloud your judgement and I believe that as soon as she gets what she wants, at the price she wants, you will be history. Sorry to be so blunt but you don't owe her or her family any favours, sell the house and let her and her new partner find their own place to live at their own expense, if they are then bitter towards you then tough, that's their problem, not yours. Onwards and upwards!