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break up mortgage

badge1123 · 2015-05-08 21:07:42

Me and my gf just split up. We bought a house together 6 years ago. I was just wondering if anyone knew what happens r.e. With getting rid of the house, giving it back to the bank etc. Thanks

08-05-2015 10:07pm

#1

badge1123

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Me and my gf just split up. We bought a house together 6 years ago. I was just wondering if anyone knew what happens r.e. With getting rid of the house, giving it back to the bank etc. Thanks

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Comments

#2 08-05-2015 10:52pm

Zaph

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Moved from Feedback

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#3 09-05-2015 9:36pm

Trish56

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This will depend on the current value of the property and the mortgage outstanding. If you can sell and clear off the mortgage you don't have a problem however if the property is in negative equity well you just cant hand it back to the bank. First thing you need to do is get the property valued and then ask the bank for a redemption figure.

badge1123 wrote: »

Me and my gf just split up. We bought a house together 6 years ago. I was just wondering if anyone knew what happens r.e. With getting rid of the house, giving it back to the bank etc. Thanks

0