Engagement break up-signing off mortgage...advice please!!?

Question

me and my now ex fiance have split up and hes puttin me through h**l...thanks to his parents!! anyhoo, ive had enough of it now, so said he can have the mortgage and everything pretty muh thats here, so i can make a clean break. does he have to buy me out in this case? Cheers =D

Answer 1

If you have been putting money into the home then yes he does have to pay you off as you put it.  If the mortgage is in both your names then you have to get it valued and come to some sort of arrangement as to how much you will get. If I were you I would get a valuation and go see a solicitor, you can get a free half hour with them see where you stand. Good Luck

Answer 2

See a lawyer about this. If you are still on the mortgage then you are technically liable for any arrears.

Answer 3

Depends on quite a few things.Its important to keep everything in writing and keep copies.

Heres a good site for you to get some good advice from-I am a moderator there.

Answer 4

If you say he can have it then no. If you say he has to buy it from you then yes (assuming its your stuff and you are on the mortgage). More info would be helpful (such as who is on the mortgage, how long you've been in the home, what stuff you are talking about etc.)

Honestly if its not that much stuff and you don't have that much equity in the home then you would probably be better off just walking away. Tell him he can refinance the mortgage and have the stuff if you aren't losing a lot of money in doing so. If you have 5 years of equity in the home and have thousands of dollars in furniture then yes, you should see if he wants to buy you out of the mortgage and buy the furniture. If he doesn't want the furniture then sell it yourself or take it if you want it (assuming again that its yours and not partially his). If he doesn't want to buy you out on the house tell him you want out of the mortgage and he can either buy you out or put the house up for sale, either way you want out.

Answer 5

if you are both on the title, then he would have to buy you out, you could refinance, or you'd have to obtain a quit claim on the mortgage.  this will have to go through the financier of the mortgage.  you cannot simpy "walk away" from a mortgage without there being consequences.  that will not work.  remember, until you take action, if your ex does not pay the mortgage, your credit will be damaged as well.  i would take action now.

Answer 6

Get some legal advice.....QUICK.  Depending on how much you put into the house, you should get it back with interest if the house is sold.  Just giving it to him to get rid of him is a short term solution and you might kick yourself later on.  Get some legal advice and then do as the solicitor tells you.  You don't have to speak to your ex about it directly if you don't want to.

Answer 7

See a lawyer if you have equity of your own in the house, if however you just want the whole thing over and done with sell it to him for a penny providing he picks up transfer and legal bills which should only be a couple of hundred max.

Answer 8

I believe he can re-fi and have your name removed...

Answer 9

If he earns enough yes but that´s up to the mortgage lender to decide, he may refuse to buy you out saying he can´t afford to, if so the house will have to be put up for sale and you should keep paying your share of mortgage payments until sale, remember if you have negative equity you will be left with 50% of the debt. Sorry life sucks!

Answer 10

if you dont care and you are willing to just walk away then he doesn't have to buy you out  

Answer 11

Assuming that you live in England & Wales...

I'm also assuming that you have a joint mortgage on a home that is in joint names.

Point number one is that you cannot and should not just 'walk away'. The mortgage is on a joint and several basis - in other words the mortgage company can come after either of you to repay the full amount. Let's say your ex fails to make a few repayments than the mortgage company can come after you to pay up even though you don't live there! Equally, the mortgage company are most unlikely to allow you to remove your name from the mortgage - after all, why should they let you off the hook? Your ex is going to have to take out a new mortgage in his own name and you need to make sure he does!! By the way, if you fail to get your name removed from the mortgage then you can forget about getting a mortgage on another property in your own name!

Make sure you take account of who provided the cash for the deposit in any financial settlement.

Second point - assuming there is some equity in the home - why should you just give it all to him? Get at least 2 valuations on the home (you should both get it valued separately), take the average of the valuations, and make him pay you half of any equity in the home.

If he doesn't want to play ball on this then go and see a solicitor to get the matter resolved.

If you have moved out then you should inform the council so you are not liable for Council Tax and deal with any of the bills that you were paying yourself e.g. utilities, phone, broadband, sky etc.

Stick out for what is rightfully yours!

Good luck.