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Mortgage payments on a property for sale

  • davkev40
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19 Mar 12 #318953 by davkev40
Topic started by davkev40
hi there, i''m hoping for some advice on the following scenario if anyone can help.

I have been separated for over a year and moved out of the marital home where my ex resided with my 12 year old daughter - up until last week.

Last week I had a text off her advising me that she had moved out with my daughter and moved to her mothers for the foreseeable future. For the last 12 months my wife has been paying the mortgage payment and prior to that I was paying for 12 years or so.

We have agreed to put the house on the market, sell and split any equity. The problem is she will no longer pay the mortgage payment while the house is on the market which I totally understand as she isnt living there so I have proposed to pay half if she will pay half.

I live with my new partner and her 2 children and pay my way there so I cant afford the full mort payment.

I cant make my ex pay half while the house is for sale so does anyone have any suggestions as I dont want to go into further arrears (1 month already) and I want to avoid repossession too.

Thanks

Kevin

  • autumn9
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19 Mar 12 #318976 by autumn9
Reply from autumn9
How is the mortgage held? Are both names on the mortgage? If so then both of you are liable. If only your name then unfortunatly even if you are not living there then you are responsible for the mortgage payments.

  • WhiteRose
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19 Mar 12 #318978 by WhiteRose
Reply from WhiteRose
Autumn is right.

Yes, the ideal situation would be that you pay half each.

or

Is there any way you could rent out the house for 6 months? - this will give you chance to get things sorted financially before you put it on the market.

WR

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20 Mar 12 #319088 by davkev40
Reply from davkev40
Thank you both for your advice.

The mortgage is joint and I realise that we are both liable.

I''ve approached the mortgage company about me paying half but they would still chase me for the rest irrelevant of the fact that my ex isn''t interested.

As for renting, I don''t believe the mort company (Santander) will give permission. Do people still rent in these circumstances, as in without permission from the lender?

Maybe I should do everything possible to sell quickly, not pay a penny and any equity could cover any arrears. Slightly twisted logic I know but I''m thinking as the mort is repayment why should it just be me that reduces the amount owed in order for my ex to benefit!?


Thanks
Kevin

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