Splitting up? What if he stops mortgage repayments?
Wednesday, 03 December 2008 09:34
A reader from Leicester is splitting up and is concerned what will happen if her ex stops paying his part of the mortgage.
Tony Davis, myfinances.co.uk mortgage expert from Mortgage Meadow, takes her through the problem and what it means to her finances.
Trudi asks:
My partner and I have split up. I sold my own property and now jointly own the house and mortgage with my ex, I own 70% of house.
What do I do if he stops paying the mortgage as I have three kids which aren't his and also I have paid for all house contents and home improvements which I have receipts for?
Could this decrease his percentage in the house and could he force a sale on the property to get his remaining share of the property.
Tony replies:
For your ex-partner to force the sale of the property it would be necessary to obtain a court order to do so.
Bearing in mind that you have a family that need to be housed, it is likely that the Court would look sympathetically at your position and only grant an order in favour of your ex if there were no other options and it could be done without significant impact upon you.
The best advice I can offer is to meet with a solicitor, or Citizen's Advice Bureau who will explain your position and options.
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
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