Discussion
My ex gf and I have split, she moved out unexpectedly with half the contents recently. We have a joint mortgage and sec. Ln together. I'm not in a position to pay her share of the mort. or sec. ln. and neither are my family or friends. My kids stay with me at weekends so ideally I want to retain house but I can't afford the repayments now she is refusing to pay her share.
I'm going to contact www.cccs.co.uk and seek advice but would like to hear from anyone who can tell me what to expect. Obviously I'm aware I will lose the house and my credit will be toilet paper, but as the ex has done a runner, and will be invisible (although I know where she works) can she just walk away from her commitments and not be affected.
I've been told by a few people to not pay mort. or sec loan and let house go into repo proceedings then go BR so that I'm not liable for her share of the debt.
I'm going to contact www.cccs.co.uk and seek advice but would like to hear from anyone who can tell me what to expect. Obviously I'm aware I will lose the house and my credit will be toilet paper, but as the ex has done a runner, and will be invisible (although I know where she works) can she just walk away from her commitments and not be affected.
I've been told by a few people to not pay mort. or sec loan and let house go into repo proceedings then go BR so that I'm not liable for her share of the debt.
You could put the house on to a buy to let mortgage, and rent it out for a while. if you have enough equity in it, as a temporary solution.
could save you losing the house and your credit and when you are in a better position move back in.
And then track the b
h down and KILLLLLL!
PS I would not avoid paying mortgage, or go bankrupt, could ruin your chances of future house with next girlfriend/wife.
could save you losing the house and your credit and when you are in a better position move back in.
And then track the b
h down and KILLLLLL!PS I would not avoid paying mortgage, or go bankrupt, could ruin your chances of future house with next girlfriend/wife.
Edited by martinnitram on Saturday 24th January 23:01
gjc10212 said:
I've been told by a few people to not pay mort. or sec loan and let house go into repo proceedings then go BR so that I'm not liable for her share of the debt.
You'd be foolish to listen to that advice.The debts are joint and several. In other words, the lender can come after you for all of, your ex for all of it, or both of you for whatever it can get from each of you. If you're the easier target, they'll come after you for it all.
Not paying the mortgage is just madness. It will be sold for less than market value, and thousands of pounds of legal costs and additional interests will be lumped on top of what you already owe.
Speak to the lender.
If both the mortgage and the secured loan are in both your names then you are jointly liable to keep the payments up, the fact that you are living in the house and she is not is neither here nor there.
Explain the situation, furnish the lender with all the details they need to contact her should the worst happen and repossession start. They will need to contact her to appear at court.
At least then, any shortfall will not fall on your shoulders alone.
If both the mortgage and the secured loan are in both your names then you are jointly liable to keep the payments up, the fact that you are living in the house and she is not is neither here nor there.
Explain the situation, furnish the lender with all the details they need to contact her should the worst happen and repossession start. They will need to contact her to appear at court.
At least then, any shortfall will not fall on your shoulders alone.
Lurking Lawyer said:
gjc10212 said:
I've been told by a few people to not pay mort. or sec loan and let house go into repo proceedings then go BR so that I'm not liable for her share of the debt.
You'd be foolish to listen to that advice.The debts are joint and several. In other words, the lender can come after you for all of, your ex for all of it, or both of you for whatever it can get from each of you. If you're the easier target, they'll come after you for it all.
Not paying the mortgage is just madness. It will be sold for less than market value, and thousands of pounds of legal costs and additional interests will be lumped on top of what you already owe.
Busa_Rush said:
If her name is on the mortgage then she needs to help you resolve the issue as if you stop paying it, her credit rating will hit the floor too. Best approach would be to try to convince her of this so you can resolve it amicably.
One hopes that that would suffice, although with many people it would not.Assuming an ideal world in which one could get free legal representation, could the OP not sue the ex for her share of the obligation?
Busa_Rush said:
If her name is on the mortgage then she needs to help you resolve the issue as if you stop paying it, her credit rating will hit the floor too. Best approach would be to try to convince her of this so you can resolve it amicably.
She doesn't care about her credit rating, a few days ago one text message was friendly the next day one word answers (hot/cold). Now no responses to emails, or texts. gjc10212 said:
Lurking Lawyer said:
gjc10212 said:
I've been told by a few people to not pay mort. or sec loan and let house go into repo proceedings then go BR so that I'm not liable for her share of the debt.
You'd be foolish to listen to that advice.The debts are joint and several. In other words, the lender can come after you for all of, your ex for all of it, or both of you for whatever it can get from each of you. If you're the easier target, they'll come after you for it all.
Not paying the mortgage is just madness. It will be sold for less than market value, and thousands of pounds of legal costs and additional interests will be lumped on top of what you already owe.
However, if you continued to pay the mortgage yourself, it would entitle you on sale of the property to argue that it shouldn't be a 50/50 split but that your share should be greater as you carried on paying after she had stopped.
Of course, I know that doesn't help you in the short term. My point was just that stopping paying the mortgage is the worst thing you can do and any advice you have received to do that is ill-considered and unlikely to be in your best interests.
martinnitram said:
You could put the house on to a buy to let mortgage, and rent it out for a while. if you have enough equity in it, as a temporary solution.
could save you losing the house and your credit and when you are in a better position move back in.
And then track the bh down and KILLLLLL!
PS I would not avoid paying mortgage, or go bankrupt, could ruin your chances of future house with next girlfriend/wife.
It's in negative equity at the moment.could save you losing the house and your credit and when you are in a better position move back in.
And then track the b
h down and KILLLLLL!PS I would not avoid paying mortgage, or go bankrupt, could ruin your chances of future house with next girlfriend/wife.
Edited by martinnitram on Saturday 24th January 23:01
Lurking Lawyer said:
gjc10212 said:
Lurking Lawyer said:
gjc10212 said:
I've been told by a few people to not pay mort. or sec loan and let house go into repo proceedings then go BR so that I'm not liable for her share of the debt.
You'd be foolish to listen to that advice.The debts are joint and several. In other words, the lender can come after you for all of, your ex for all of it, or both of you for whatever it can get from each of you. If you're the easier target, they'll come after you for it all.
Not paying the mortgage is just madness. It will be sold for less than market value, and thousands of pounds of legal costs and additional interests will be lumped on top of what you already owe.
However, if you continued to pay the mortgage yourself, it would entitle you on sale of the property to argue that it shouldn't be a 50/50 split but that your share should be greater as you carried on paying after she had stopped.
Of course, I know that doesn't help you in the short term. My point was just that stopping paying the mortgage is the worst thing you can do and any advice you have received to do that is ill-considered and unlikely to be in your best interests.
Lenders don't generally want to have to repossess houses - most will cut a lot of slack if they can see that you're trying to make at least some payment and you're not taking the piss completely.
Speak to your lender and explain your current problems. Tell them what you can realistically afford to pay and offer them a proposed course of action and timeframe to try to resolve matters - in the current climate, I'm pretty sure that they'd prefer some payment and avoid the need for a repo than to have to issue proceedings and then try to sell the house months down the line.
The best advice to anyone struggling to meet mortgage repayments is always TALK TO YOUR LENDER!
Good luck getting it sorted.
Speak to your lender and explain your current problems. Tell them what you can realistically afford to pay and offer them a proposed course of action and timeframe to try to resolve matters - in the current climate, I'm pretty sure that they'd prefer some payment and avoid the need for a repo than to have to issue proceedings and then try to sell the house months down the line.
The best advice to anyone struggling to meet mortgage repayments is always TALK TO YOUR LENDER!
Good luck getting it sorted.
Wings said:
Get the property valued, and then offer to buy her share (Below market value), then consider either taking inlodger/sor letting out the property.
Good advice, although id try to get her off the mortgage with out paying her a penny, tell her your letting her off scott free, keep the house yourself, and to keep repayments down ask lender if you can repay interest only, could reduce the payments a fair bit, take in lodger ( try to get a fit one) and this should give you time to get back on your feet.Good luck.
Lurking Lawyer said:
Lenders don't generally want to have to repossess houses - most will cut a lot of slack if they can see that you're trying to make at least some payment and you're not taking the piss completely.
Speak to your lender and explain your current problems. Tell them what you can realistically afford to pay and offer them a proposed course of action and timeframe to try to resolve matters - in the current climate, I'm pretty sure that they'd prefer some payment and avoid the need for a repo than to have to issue proceedings and then try to sell the house months down the line.
The best advice to anyone struggling to meet mortgage repayments is always TALK TO YOUR LENDER!
Good luck getting it sorted.
Cheers - Monday morning is going to be stressfull!Speak to your lender and explain your current problems. Tell them what you can realistically afford to pay and offer them a proposed course of action and timeframe to try to resolve matters - in the current climate, I'm pretty sure that they'd prefer some payment and avoid the need for a repo than to have to issue proceedings and then try to sell the house months down the line.
The best advice to anyone struggling to meet mortgage repayments is always TALK TO YOUR LENDER!
Good luck getting it sorted.
martinnitram said:
Wings said:
Get the property valued, and then offer to buy her share (Below market value), then consider either taking inlodger/sor letting out the property.
Good advice, although id try to get her off the mortgage with out paying her a penny, tell her your letting her off scott free, keep the house yourself, and to keep repayments down ask lender if you can repay interest only, could reduce the payments a fair bit, take in lodger ( try to get a fit one nice idea :-)) and this should give you time to get back on your feet.Good luck.
martinnitram said:
Wings said:
Get the property valued, and then offer to buy her share (Below market value), then consider either taking inlodger/sor letting out the property.
Good advice, although id try to get her off the mortgage with out paying her a penny, tell her your letting her off scott free, keep the house yourself, and to keep repayments down ask lender if you can repay interest only, could reduce the payments a fair bit, take in lodger ( try to get a fit one) and this should give you time to get back on your feet.Good luck.
The problem with letting her off the mortgage is that, if the property is now in neg eq, the ex ought to be covering half the loss herself.
If the amount of neg eq is small, then pursuing it wouldn't be worth the hassle, As she is in employment, however, the OP may want to think about how he'll feel in future if she walked out and yet he had paid her debts afterwards even though she still had her own income.
gjc10212 said:
I am fully prepared to pay every single penny I owe, but I'm not prepared to pay her share (and I don't have the means too either).
Thats not an option you have unfortunately, without legally compelling her to pay her share.Edited by gjc10212 on Saturday 24th January 23:28
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