previous property/partner help

[Daveyh]

My & my ex partner's names are both on the mortgage for the last property I lived in. We split a couple of years ago and I let the flat out. I went to the lender to have ex's name removed but because of the amount/my salary, was refused to take it on solo (even though I'd been paying 100% for some time & still continue to).

2 years on, ex is now making some noise about removing name from the mortgage, as might want to get own property at some points. Would ex be able to FORCE me to sell in any way? Has offered a smallish sum, but would not cover anything like the loss I'd suffer if I sold at the moment.

Any sensible advice appreciated.

DH

[V8mate]

Only requires one owner (doesn't matter how many there are) to want to sell a property and the property has to be sold.

[scotal]

Is it self funding on a BTL basis?

Or are you living in it?

Edited by scotal on Wednesday 8th October 16:18

[Daveyh]

scotal said:

Is it self funding on a BTL basis?

It's approaching self funding, regular repayment mortgage.

[scotal]

Daveyh said:

scotal said:

Is it self funding on a BTL basis?

It's approaching self funding, regular repayment mortgage.

Are you tied in to your current mortgage?

[Daveyh]

scotal said:

Is it self funding on a BTL basis?

Or are you living in it?

Edited by scotal on Wednesday 8th October 16:18

No, it's currently let through an agent

[paoloh]

anonymous said:

[redacted]

Is Dave gay?

[Daveyh]

scotal said:

Daveyh said:

scotal said:

Is it self funding on a BTL basis?

It's approaching self funding, regular repayment mortgage.

Are you tied in to your current mortgage?

Terms wise no, but cant get anything else and the lender not being very creative

[scotal]

Daveyh said:

scotal said:

Daveyh said:

scotal said:

Is it self funding on a BTL basis?

It's approaching self funding, regular repayment mortgage.

Are you tied in to your current mortgage?

Terms wise no, but cant get anything else and the lender not being very creative

Give it 5, YHM>

[Daveyh]

anonymous said:

[redacted]

Tonker, spot on. We're in negative equity. Question is, can ex force the sale and in turn force me to take 50% of the loss. Loss will be 20K +selling costs.

[paoloh]

Daveyh said:

anonymous said:

[redacted]

Tonker, spot on. We're in negative equity. Question is, can ex force the sale and in turn force me to take 50% of the loss. Loss will be 20K +selling costs.

Yes they can but why would they?

[Vesuvius 996]

http://www.telegraph.co.uk/news/newstopics/howabou...

[Daveyh]

Ex wants me to sell as can't get another mortgage because name is on this joint one.

Obviously a good time to buy when the prices are low, but not a good time for me to sell.

[mitzy]

Vesuvius 996 said:

http://www.telegraph.co.uk/news/newstopics/howabou...

Must have been a big saw!

[paoloh]

anonymous said:

[redacted]

Spin it around and offer her the same amount she offered you and tell her to re mortgage the place! Sit back and see how she reacts....

[Justayellowbadge]

anonymous said:

[redacted]

Compact and bijou, but location is everything.

[Daveyh]

Vesuvius 996 said:

http://www.telegraph.co.uk/news/newstopics/howabou...

Thanks! Needed a laugh!

[Daveyh]

anonymous said:

[redacted]

Nice idea!! Hadn't considered that.

[BoRED S2upid]

If its close to self funding then you should be able to get a lender to give you a mortgage on yoru won. Did I hear Negative Equity mentioned? If so god knows.

[minimax]

V8mate said:

Only requires one owner (doesn't matter how many there are) to want to sell a property and the property has to be sold.

other way round

one party cannot force a sale, except in extenuating circumstances, the like of which i've not come across in 7 years and cannot recall right now... hey ho