Mortgage & Split

Ken Tucky

Hi all,

This could turn into a long read. My gf and i split up in 2005 after moving into a new house. We split up approx 3 months after moving in. She paid 1 mortgage payment. I have being paying it since 2005 and i still am.

We stayed friendly. She is married with children, living in another country and happy. Ive got children now and about to be married.

Im on a tracker and dont want to go off it at the moment for obvious reasons(dont hate me,lol). Its messy but as she is totally fine with me living the and wants nothing from me or the house, i am sitting on my hands with what to do. Problem is i know its been left too long. I need to get it sorted for my family.

I did briefly sound out getting the mortgage in my name but it was such a headf**k at the time i walked away.

Is there any agreements which can be put in place to protect us.

Bit more info, i borrowed 10 thousand to cover the stamp duty and the house is either just in or out of neg equity. I have paid everything up to this point. She did front a little of the deposit from a house we owned previously. Probably arount 10 thousand.

Any advice or anybody been through this?

Thanks all

djimi

Speak to a solicitor. She still owns half the house and is jointly responsible for it and the mortgage.

Procrastastudy

+1 you should have got legal advise immediately. Don't leave it any longer.

Ken Tucky

Yeah, i know thats the route i need to go. Its so hard to listen to legal people talking legal issues. It just goes way above my head.

Im guessing its much more than her just signing over her half of the house.

Thanks anyhow. I must make an appointment so...

djimi

If she wants out then you need to buy her out. This is where the legal side comes into it unfortunately.

Ken Tucky

She dosent actually care, in the sense that she isnt looking for any dues. In fact she could end up being in debt due to the collapse.
What i mean is, she is letting me sort this out in my own time and is putting me under zero pressure.
She has in all tenses, washed her hands of the house. She would sign anything as that is what we agreed all hose years ago.

whippet

Ken Tucky wrote: »

She dosent actually care, in the sense that she isnt looking for any dues. In fact she could end up being in debt due to the collapse.
What i mean is, she is letting me sort this out in my own time and is putting me under zero pressure.
She has in all tenses, washed her hands of the house. She would sign anything as that is what we agreed all hose years ago.

if that is the case you need to make her an offer on the house via a solicitor and effectively buy the house yourself.

On top of this you will probably / most likely need to apply for a new mortgage.

I would be very surprised if any house bought in ireland in 2005 isn't in Neg Equity so that would be a bit of a stumbling block

Procrastastudy

Biggest issue is going to be the bank. They are unlikely to let her off the hook.

You really need to get legal advise and get a solicitor that can explain it in terms you understand. If you're not happy when you phone them up try someone else.

The true side of human nature come out when there is money to be made. No offence OP but you should like the type of person that will let this go on another ten years. What happens if prices recover and your ex-partner decides to move back to Ireland. At the very least she could make life difficult for you. At worst she could end up taking a significant portion of the house.

murphaph

Ken Tucky wrote: »

She dosent actually care, in the sense that she isnt looking for any dues. In fact she could end up being in debt due to the collapse.
What i mean is, she is letting me sort this out in my own time and is putting me under zero pressure.
She has in all tenses, washed her hands of the house. She would sign anything as that is what we agreed all hose years ago.

But her heirs may not be so kind to you or your heirs!

She owns half the house your family live in. Whilst she would at present show no inclination towards selling (because it's probably in NE), that might change when YOU have done her the favour of clearing the mortgage.

People change. Her heirs would be entitled to inherit her half when she passes on. You can't be sure that they wouldn't force a sale and you simply don't have clean title so you wouldn't be able to sell yourself, should the need arise.

I don't mean to be negative, but your only option here is to take legal advice. However, if relations are amicable as they sound, don't let your solicitor go writing threatening letters to your ex. Keep a tight leash on any solicitor you take advice from.

whippet

Procrastastudy wrote: »

Biggest issue is going to be the bank. They are unlikely to let her off the hook.

.

should the bank be willing to allow you to get a mortage in your own name and buy the house from your ex, you will lose the tracker.

However, if you are in Negative Equity you can be sure that your bank would much prefer if they had security from having two people liable for the debt, rather than just you.

You seem to disregard the fact that this is a very complex issue and the only people who can give you proper advise and facts are a solicitor and the bank. While the legal stuff and financial stuff my be a 'head****' and beyond your comprehension it can't be avoided. You and Your Ex have both a liability and are joinlty responsible for it.

Good relationships can turn bad in an instant, while you are on good terms with her now, I am assuming you were on good terms when you bought the house!!!

Ken Tucky

Of course, totally good terms. It came down to- i want to go home(her)UK and i wanted to stay(me-irish) so thats the way it went in simple terms. It wasnt that easy btw, just glossing over that to keep on topic.

I never taught about what she is due if she passes as i still pay her life insurance. Jesus the more i think of it, this is a total mess. Ok mods close thread, im off to ring a solictor:mad:
Looks like i may have to lose my tracker for security. I may end up moving, i'll have to see what the brief says.

Thanks all.

Procrastastudy

You may not have to change the mortgage there is a whole area of law refered to as equity which is essentially there to cover 'the law is an ass' type scenarios. This is why it is so important to seek proper legal advice.