Not Paid Mortgage or had anything to do with Property

[Lost Puppy]

Good Evening All

 

I have a property with an ex boyfriend. We split over 4 years ago, for 3-4 years I have never paid anything towards the property, his also been letting out the property, which I again have never had anything to do with it, I've never signed any paper work either.

 

Now he wants to sell the property, however its in negative equity & there is a loan which was taken out with the 100% mortgage,

so if he sells I shall be left with a lovely debt yet again.

 

What I'm trying to find out, is there anyway I can sort this out as I've had nothing to do with the propery for a few years now.

 

Thanks in advance & any information provided is most appreciated.

[dx100uk]

if your name is not on the loan agreement then no worries.

 

dx

[Lost Puppy]

Good Evening

 

My name is on the mortgage & the unsecured loan, it was taken out at the time as a joint mortage / loan as we were together.

 

Thanks

[dx100uk]

in your first line you said you never signed anything

 

so which is it?

 

dx

[renegadeimp]

Agree with DX. You are giving two different stories.

 

I have a property with an ex boyfriend. We split over 4 years ago, for 3-4 years I have never paid anything towards the property, his also been letting out the property, which I again have never had anything to do with it, I've never signed any paper work either.

 

My name is on the mortgage & the unsecured loan, it was taken out at the time as a joint mortage / loan as we were together.

[Lost Puppy]

Sorry, what I mean is I've never signed any paper work in regards to the letting of the property. Also there is no buy to let mortgage agreement, they declined this, however he is still letting out the property.

 

I have of course signed the mortgage paper work when it was first taken out when we purchased the property originally.

 

Thank you

[nic117]

I think she means she did not sign anything to do with the property being let, I'm in the same position but after 2yr the ex still has not been in contact about a sale of the property, I suppose I have the joys to come!... In the mean time he obviously does not want his credit file going down the swanny!... He can't sell with out your signature so just ignore him n make it as difficult as possible for him ;-), that's what my fiancés ex is doing to him n there is nothing we can do!!...except spend a massive amount of money on a court order to get it signed over to him!

[dx100uk]

i though thats what you might of meant:lol:

 

sadly you will be jointly liable then.

 

if he wantsto sell

then he needs to get your name removed then...

 

... no removal, you'll block the sale?

 

dx

[renegadeimp]

Gotcha. Well, unfortunatley it doesnt matter about the letting. The mortgage is what you need to be worried about. If he doesnt pay it, then the bank could come after you for the cash.

[Lost Puppy]

I thought though if his letting the property without a buy to let mortgage & if the mortgage company decline a letting mortgage, then he could get into trouble?

He hasn't missed any payments as far as I'm aware, as the person letting the property is basically paying the repayments.

 

So although I've had nothing to do with the property for a few years, although I've never made any payments towards the mortgage for a few years,,,,,,,,,,,,,,,

If he sells & I agree to it & there's a left over amount which is owed to the mortgage company, then I get stuck with the debt?

 

Sorry just trying to work out where I stand. Thanks

[renegadeimp]

You both signed the mortgage, so you are both responsible for it. Regardless of who is letting out the property.

[nic117]

Gotcha. Well, unfortunatley it doesnt matter about the letting. The mortgage is what you need to be worried about. If he doesnt pay it, then the bank could come after you for the cash.

 

He seems as though he wants the payments to be up to date therefore will not let the payments get behind hence him letting and wanting to sell, if it does not get payed it will go down the repossession route which again sounds like he does not want, so just ignore him, he will have to get solicitors involved which means him spending a great deal of money ;-)

[Lookingforjustice]

If I understand you correctly you have a joint mortgage and a joint loan taken out at the same time.

ie your name appears on both documents.

 

After you split you've had nothing to do with the either the repayment of the mortgage or the loan.

 

Your ex boyfriend rented out the property presumably to keep up mortgage and loan payments?

 

If you are not joint signatory for the mortgage and the loan then no problems.

 

If you are and have just left it up to your ex to sort out for the last four years then you are still jointly responsible for the current repayment of the mortgage and the loan.

 

Why does he want to sell if it is negative equity?

If it is insufficient to pay off the mortgage and loan then you are jointly responsible for the shortfall.

 

There are property investors out there who may be willing to buy property in negative equity who will pay the outstanding mortgage

and the loan if you're lucky but as joint owners he needs your signature as well.

 

On the other hand if he's just going to sell it at a loss and has decided he can deal with his half the shortfall then that might not be too good for you.

 

If you are a joint signatory to the mortgage and /or the loan you need to find out from him exactly why he wants to sell

and what is owed now on anything you are joint signatory to.

 

He might have gone into debt and stopped paying the mortgage and wants to sell before it is repossessed

in which case it is different advice that might be needed for you.

 

To ignore anything you legally contracted to for four years would not have been a great move on your part.

I would need to know a bit more before offering anything further but perhaps someone else out there has other advice.

[Lookingforjustice]

This has moved on a lot since I started writing my last reply. Him letting the property out was a good thing to cover the mortgage. Otherwise you could be in a worse position. Why is he selling?

[Lost Puppy]

reading all the replies & thank you to you all in advance.

 

Looking for justice, thank you great help with your response. I haven't ignored anything for 4 years, I've just had nothing to do with it, if anything its me who's contacted him saying whats happening with the place, who's in it, whats going on with it etc. Just I get told nothing & find out last minute. I believe he wants to sell as the person letting would like to buy it, but the mortgage company won't allow this as the price is less then what is owed :O( by about £20k ish. He just doesn't want any ties to me anymore & that property is the only tie.

[nic117]

If the property is going down the repossession route, he will not be able to sell the property. He sounds like he wants to keep his credit good.

[nic117]

Unfortunatly for him He will have to wait till the market picks up then and in the mean time it's not affecting you so I wouldn't worrie

[stu007]

Hi

 

I have to agree if the mortgage and unsecured load are in joint names then both parties are equally libel for the mortgage and unsecured loan.

 

As the mortgage is joint he would need your permission to sell the property.

 

Something you need to consider as the mortgage is joint and only if you give permission to sell what is your interest/share of the sale

 

You also need to consider what are the possible consequences as the mortgage/unsecured loan are in joint names if he fails to meet the mortgage payments as you are both jointly libel.

 

I think you may need to seek legal advice on this.

[Lookingforjustice]

Put nothing in writing to your ex but if you need to email him for further information write one that says that all email correspondence on this matter is in relation to establishing the current situation in relation to our joint mortgage and loan, is without prejudice and should not be construed in any way as an agreement by me for you to dispose of the property without a specific signed consent. Get him to acknowledge your email. No harm in trying to protect your position. Personally I wouldn't leave this problem it's like leaving an open signed cheque book with someone you're not in contact with any more and hoping they won't use it.!