Have joint property and mortgage with ex partner. Never married, and have 8 year old - she also has 14 and 12 year olds from previous marriage.
House and mortgage is in joint names, approx value £155k and £95k mortgage owing. I have always paid all mortgage, and still do even though i moved out a while ago.
Currently living with parents as cannot afford half of existing mortgage plus maintenance plus rent on own place. I would like to sell property to release my equity but ex doesn't want to because of children, and because she wouldn't be able to buy anywhere else as could not get mortgage.
She would like to have mortgage and property in her own name which would suit me, but she cannot get a mortgage in her own name as her earnings are only £11,000 - she also gets about £13k from child benefit/tax credits, and £3,600 maintenance but cannot find a mortgage company willing to lend to her based on this.
I have told her that i would accept £20k now instead of my 50% share of the equity (£30k), but in reality i would agree to wait until daughter reaches 18 before she needs to pay me any equity provided that she gets a mortgage in her own name.
Ex has said that if she cannot get mortgage in her own name, she will pay all mortgage until daughter is 18 which would enable me to rent my own place. However, i would rather buy but cannot whilst i am named on the mortgage.
Any advice would be appreciated.
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8 replies
stodge2406 · 21/07/2013 19:31
OP posts:
ProphetOfDoom ·
22/07/2013 13:17
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