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catman
Original Poster
838 posts
44 months
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I've tried searching without any real luck. My Son's friend is in a difficult situation. His girlfriend has just walked out on him.
She said initially that she wanted her name removed from the mortgage and deeds and she would keep their car.
Today she arrived with her Dad, who wants the house to be sold and any profit split equally. Failing that, for him to move out and the place to be rented out.
The thing is, there's next to no equity in the house, which would probably be swallowed up in legal fees and he has no intention of moving out.
I don't believe that a sale can be forced, but would appreciate informed opinions!
Thanks
Tim
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mrmr96
11,943 posts
73 months
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Surely him buying her out would be the other option? Work out the market price for the house, she get 50%. Work out the settlement value of the mortgage, she gets 50%. Work out the value of her equity and pay her off. Simple, non?
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specialboy
20 posts
11 months
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Unless your friend can buy her out then she can force a sale through solicitors. Can he afford the house on his own?
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catman
Original Poster
838 posts
44 months
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Yes, that would be simple, in fact it was very simple until her Dad got involved! I got the impression that he just wants to cause as many problems as possible.
This is why he said about renting the property out, in the hope that there would be enough equity in the house eventually.
I'm not sure that they would go for being bought out, when that would effectively give her the same amount of money as she would have got if she'd just walked away.
This is why I asked about a forced sale.
Tim
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catman
Original Poster
838 posts
44 months
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Specialboy, he was paying the mortgage anyway, she was paying for the bills. I'm not sure whether they will take her off the mortgage, as the house has dropped in value and the LTV would now be really high.
Surely, a decent Solicitor would advise against forcing a sale when there was no financial gain?
Thanks
Tim
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TheLordJohn
1,839 posts
15 months
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Were they married? If she hasn't been paying the mortgage directly (obviously contributing by paying bills) then can he not just tell her to get bent?
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catman
Original Poster
838 posts
44 months
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No, it's not that simple. With her name on the deeds and the mortgage, he's f  ked. Her paying the household bills also counts as upkeep. Tim
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Jasandjules
45,376 posts
98 months
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If she has an interest in the house she could make an application under the Trustee of Land and Appointment of Trustee Act to seek an Order for sale. Whether it would succeed or not and so on is a different matter.
She may also of course want to be aware if she is on the mortgage, than the mortage company can come after her for any shortfall........
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TheLordJohn
1,839 posts
15 months
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catman said: No, it's not that simple. With her name on the deeds and the mortgage, he's f ked. Tim Fair one.
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catman
Original Poster
838 posts
44 months
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Jasandjules said: If she has an interest in the house she could make an application under the Trustee of Land and Appointment of Trustee Act to seek an Order for sale. Whether it would succeed or not and so on is a different matter.
She may also of course want to be aware if she is on the mortgage, than the mortage company can come after her for any shortfall........ Thanks Jasandjules. This is what I was looking for. With reference to being chased by the mortgage company, from my own bitter experience, they invariably chase the person who is more likely to pay! Regards Tim
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cymtriks
4,014 posts
114 months
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If she, her dad, or anyone else, want him out, the house to be sold or rented out then they can pay the costs themselves. It's what they want so they can cough up.
In the mean time she is liable just as he is. Bill her for half the mortgage until she either takes her name off or pays for a sale herself plus half the losses. After all she wants the sale and the negative equity is half hers.
Lenders must surely get this sort of thing every day, if the mortgage is being paid why would they be that fussed if someone who clearly didn't want the house paid to get out of the deal? I can't imagine that every couple that split up in a house with no equity end up with a forced sale. Surely this would be terrible bussiness practice for a lender, totally counter productive, especialy when the person who stays put is willing and able to keep paying. Perhaps a chat with his lender might give him a big clue as how to proceed.
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icetea
846 posts
11 months
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cymtriks said: Lenders must surely get this sort of thing every day, if the mortgage is being paid why would they be that fussed if someone who clearly didn't want the house paid to get out of the deal? They will certainly care if the property is under water... if they let one person have their name removed then its one less person they can chase for payment in the event of defaulting on payments.
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Sir Bagalot
1,906 posts
50 months
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A sale can be forced, but reckon on 12 months
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Steve H
1,584 posts
64 months
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catman said: I'm not sure whether they will take her off the mortgage, as the house has dropped in value and the LTV would now be really high. Isn't this the greater problem? Even if she agrees to leave with cash or car it will only work if your lad can get a mortgage to cover the total owed, she's not going to do anything that leaves her liable in any way.
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uk_vette
2,764 posts
73 months
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How about you just take the car and cash, give her the house.?
Sounds like too much LTV and negative to be taking on.
Perhaps you may be better shut of the house,,,,,,,and her.
vette
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hidetheelephants
5,597 posts
62 months
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If the house is effectively in negative equity(i.e. once sold and fees/expenses paid you are out of pocket) then it would be a good idea to make it clear to them that she would be liable for half the debt.
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KingNothing
777 posts
22 months
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Force a sale? House probably won't sell for a long time if the occupier leaves the house a mess, and walks around naked when someone comes for a vieiwng 
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catman
Original Poster
838 posts
44 months
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That made me laugh! Yes, that would be the perfect answer, nothing illegal, but would definitely work.
Thanks
Tim
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Jasandjules
45,376 posts
98 months
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Sir Bagalot said: A sale can be forced, but reckon on 12 months There is caselaw in respect of if a bank tried to force a sale for default on the mortgage that says a party ought to be permitted a period of time to attempt to sell (that being up to 12 months IIRC) which may well apply here too in terms of the OP being permitted to "do the house up" etc which might give him the time to sort out the mortgage/get in a tenant etc..
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rumple
2,505 posts
20 months
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My sister in law bought a house about 5 years ago, she owned her own house but her boyfriend wanted to move so she did, when she moved she put him on the morgage, 3 months later he left her, she gave him the brand new car they had bought he walked away from the house, problem is in the 5 years since she has failed to get his name off the morgage, she spent 18 months or so trying, and going the legal route, i think a big sticking point was the morgage company said she cant pay the morgage on her own. She has the promise off him that he will never claim anything off the house but five years down the line he's with another women and has a baby, whilst living in a rented house, sister in law struggled to pay a morgage on a house she cant really afford has a boyfreind that can claim 50% anytime, a man who never paid a household bill on it or morgage payment, tragic really.
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