House repossession in England ..Any one really understand the implications or the process ?

Question

My ex partner lives in the property. And refuses to pay towards the mortgage. I have had enough after 5 years and want to end the mortgage. She will not buy my half off me. And the mortgage company will not allow me to come off the mortgage.

Payments came from her in the begining or should I say the benefit agency payed her half ( as she was unemployeed)

beverley1156 Thanks for your coments. No I was not on the fiddle. She claimed benefits once I had left

Answer 1

Thanks for expanding your question, you should speak to a solicitor as you now need to move on both financially and emotionally.

Clearly you have indeed moved on and this means ending financial burdens associated with this problem.

Whilst you may need to keep up your payments right now, you can indeed agree with the lender to pay JUST THE INTEREST! Right now.
It is not up to the lender to tell you you must continue to pay or not!

It is up to your judgement.

Presumably you would not like to see your ex homeless, but you need to market your half of the property and end this.

You could sell 'HALF' (or your share) to a property buyer in the maarket! A landlord. Then your partner will have to pay some rent to them too! Or also sell her part to them.

Peronally I would try and get a solicitor to attempt to make her sell up her half and this must be done for your own sanity. After all you need to house yourself again now!

A soliciter is a priority, not an option, but ALSO speak to the lender and go interest only on yor part of the payment, lay your cards on the table to them, this will give you a little more cash if you can have a break from payments or something similar.

Otherwise this repossession has to happen then it has to, but lender you and your partner will all loose more.

Answer 2

You would obviusly lose your house/home.

They will then most likely auction the property to the highest bidder so they can cover the outstanding mortgage amount plus any fees that may have com about from the process, if there is any remaining money after this has been done they will give it to you.

It will have a very negative effect on your credit rating and you will be unable to get a mortgage for a good while without paying extortionate rates, repossesion is the very last resort, there are companys now that will buy or refinance your property in a very short time to stop the repossesion from happening, mayby this is something you could look into.

We'd really need some more information to be more specific.

Answer 3

Speak to a Solicitor.

If there are no kids involved and no legal agreement (other than the fact that she is named as joint 'owner') and your ex never paid towards the Deposit and has never paid anything towards the Mortgage you should stand a good chance of getting her off the house deeds... (although you may have to offer to 'buy her out' ..)

It's (at least half) your house .. now would be a good time to establish this fact by moving back in... I suggest your goal should be to get her out of your property as soon as possible.

If you do manage to get her off the deeds, I suggest you simply pack her possessions into bags and change the locks one day (if she is not on the deeds and has no Rental Agreement she has no right to be there).

An alternative might be to have your friends round at all times of the day/night for a few beers and a friendly sing-song .. and perhaps soon it would be a good time to start redecorating the kitchen and bathroom (of course many of the existing fittings will have to be removed).

If all else fails, I recommend you let out YOUR rooms to a couple of Polish building workers (or perhaps a family of Albanian Refugees) .. at least that way you have some rent coming in to pay towards the Mortgage

Answer 4

Your mortgage is guaranteed against the value of your home. If you don't keep up with the repayments, the mortgage lender (who it the holder of the title deeds to your house) can foreclose on the debt and sell your home to recover their money.

From your point of view, you won't be declared bankrupt as the dept will be cleared. However, you will find it hard to get a new mortgage (at least at a decent interest-rate) in the future because you have had a home reposessed.

Unfortnately this is likely to happen more and more as house-prices are generally unaffordable and interest-rates are rising.

Answer 5

Sounds like you were both on the fiddle at some time!When she was unemployed,how did she get the mortgage paid?As far as I am aware,a women living with a partner does not qualify for benefits unless she has not told them he is living there.I suppose she has kids?If not then I suggest that you put it up for sale and see a solicitor about getting vacant possession,or as another poster has sugested,move back in and be a pain in the ----.

Answer 6

the implications are quite simple, there will be an increasing number of famillies homeless and deeply in debtThis is a result of 'easy' credit where people are allowed to borrow more money than prudence should allow. This in turn increases the market for a finite number of houses with ever spiralling prices. This is a social disaster waiting to happen with heartbreak and broken famillies due to the greed of the financial industry. The process is also simple people borrow money with the security of their house....cannot pay the mortgage... taken to court... house is reposessed

Answer 7

Please don't go ahead with the offer..its total rubbish. You need to get proper advice.

Usually do not sell the house at mortgage price. Thankfully you would need your other half's consent and hopefully he wont agree.

Answer 8

the implication is you lose your home