Buying out my ex

A reader from Crawley is having trouble with her ex-partner and wants to buy him out from their property.

Tony Davis, myfinances.co.uk mortgage expert from Mortgage Meadow, takes her through the problem and what it means to her finances.

Jade from Crawley asks:

My now ex-partner has been in trouble with the police and as result has to pay a huge fine and may even face prison.

He needs to sell our house which is jointly owned, however the way the market is going I don't want to sell and have offered to buy him out. He is refusing my offer and won't move out the property.

What rights do I have? I have been punished enough by his actions. I don't want to lose my home as well.

Tony replies:

With regards to your offer to buy him out, if he refuses then your only course of action is litigation.

Speak with a solicitor who will be able to advise you of the likelihood of the Courts ordering your ex-partner to transfer his equity to you.

Assuming that it is possible for you to obtain an order in your favour, you will still need then to arrange the mortgage in your own name (or with another person who will be replacing your ex-partner as co-owner and mortgage borrower).

If you have a question for Tony, go to the myfinances.co.uk Ask the Mortgage Expert section.

Or for more information or mortgage advice go to Mortgage Meadow.

Mortgage Meadow is an independent mortgage broker and is authorised and regulated by the Financial Services Authority