transfer of mortgage

Hi everyone,

I am looking through posts and I am not able to find a situation that I find myself in. I am hoping that someone may be able to advise.

I jointly own a property with an ex partner who no longer lives with me. We bought our property on a 100% mortgage 5 years ago. We broke up just under 2 years into our 30 term and I remained to live, pay the mortgage and maintain the property. I am now in a situation to able to change the name on the mortgage to my current partner (transfer of mortgage). My solicitor has already severed the tenancy and is now acting to complete the transfer of names. However my ex partner is now not responding.

I have been advised to not give any money as the property is in a negative equity and I have been paying for everything since he walked away.

I am starting to think that now he is looking for representation he will be looking for money from me. Can he do this? How much would he be looking for? This is the first property I have owned and I am unsure how to approach this.

Is there a way to get around this quicker than waiting all the time on the other person?

Many thanks.

Were you married?

If not and there is nothing to split why do you think he will be looking for money? If he can walk away with you taking on the negative equity he is in a better position than if you sell at a loss and both have to make up the short fall

We were not married.

I am guessing that he may want money, taking his time and making the last hurdle delayed. We signed up to 50/50 and it seems that everyone always wants something before they sign up and sign off.

It was just a question I had, I was hoping that someone may have had the same situation or have some suggestions.

Many thanks

Because you weren''t married it is property law that applies here. It is correct that you would be jointly liable for the negative equity. Ad things stand he would also be liable to pay the whole mortgage if you could not - even if you were living there. Having this joint mortgage will also affect his ability to get another mortgage.

it is clearly in his interest to get his name off the mortgage. From your point of view you would need. him to transfer his interest in the property to you and your new partner.

I would suggest a polite and friendly letter setting out the fact you are looking to relieve him of this liability. I would offer to pay all the legal costs and perhaps offer a small goodwill payment to cover the value of any contents you may have retained. The alternative is a sale and split of the debt.

He would not get s better deal from a court and because it is a property case would end up having to pay your costs too if (when) he lost.

Hadenoughnow