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I'm on a mortgage with my ex.
There's about 36k equity in the property and we've got a secured loan with 16k left on.
She doesn't want to move out of property but can't afford a remortgage on her own.
Can I sell and clear the loan?
Not without her signature. There are legal routes with an uncoperative partner that involve a court but they're not easy, speak to a solicitor.
No, of course not. Even if you could it would be a nightmare to sell.
Effectively you won't be able to get a mortgage on your own till you're off that one. Try to talk to her to be reasonable. If that doesn't work trying being an arsehole...on the understanding that the arseholeness will cease when she's willing to sign. For example move back in and leave the place in a shit tip, if she complains tell her to **** off. Be aware that if the mortgage payments lapse that will affect your ability to get another mortgage so whatever happens keep the payments up.
Im not being an arsehole about it. I just want to clear that loan so I can move asap.
Well she's living somewhere she can't afford so until both of you accept that you sadly are a bit knackered.
Even with a cooperative ex its a pain in the butt and no you can't sell or change mortgage without your ex's agreement, being uncooperative will cost you both in the long run.
Legally yes you can force the sale , you jointly own the property on "trust to sell" so it's fairly simple to take steps to enforce the trust and if she puts up a fight she will be told that that will put up the legal costs which she will end up paying out of her share.
You are going to need a solicitor any way for the sale so get one involved now.
Caveat when you say ex if you mean married you may open the maintenance can of worms, she may get an enhanced share of the equity to achieve a clean break.
Do you want more tips on being an arsehole?
Are you still living there?
Bring some Tinder hookups back to your home?
Get a lodger in to pay your share to her so that you can come off the mortgage?
Follow her round the house all day saying 'pffft What's that smell?' and waving your hand in front of your face. Women hate that.
Do you want more tips on being an arsehole?
If you're calling the OP an areshole for wanting to get the equity out of his old house so he can get a home for himself you're wrong.
What would you do in his situation? Fund your ex's home by not having one yourself? For how long? 10 years? 20 years? 'Till one of you dies?
Err nope. I'm suggesting he adopts arsehole traits to force his ex to sell, keep up 👍
Err nope. I’m suggesting he adopts arsehole traits to force his ex to sell, keep up
Sorry! A total whoosh there.
It would be worth going to mediation prior to seeing a solicitor if you want it to be as fast and painless as possible.
But essentially yes as others have said, my ex was in a similar position. I just told her how it was, I wasn't in a position to get another mortgage and she wasn't in a position to get a mortgage in her name, so although we were both keen to stay put, she accepted she would have to move out. Obviously this had an affect on the settlement at the end of the day. We didn't use mediation despite me wanting to, and getting to the point of remortgaging and giving her the cash took >2 years despite no disputes. (3 month or so cycle of waiting for lawyers to respond plus whatever time it actually took to organise valuations/mortgage/gather other info).
Pedantry alert!
If the equity is 36k and the loan 16k does that not make the house worth 52k?
If you are still married she has a legal right of abode. You can’t turf her out unless she agrees. If her name is on the mortgage she needs to agree to sell.
If the equity is 36k and the loan 16k does that not make the house worth 52k?
Nope - I read it as there is a mortgage and a separated secured loan.
Equity is 36k minus the 16k on the secured loan I'd guess.
So by the time solicitors are involved - equity = zero!
Equity is 36k minus the 16k on the secured loan I’d guess.
So by the time solicitors are involved – equity = zero!
I was thinking similar. I'd be tempted to see if you can sign over the house and mortgage debt to her just to get out of it and be able to get another mortgage.
(Almost)
For example move back in and leave the place in a shit tip, if she complains tell her to **** off.
Be aware that over on exwivestrackworld there are a bunch of women telling her that if he does this to have a loud argument, call the cops saying you are scared and he won't leave - and there's a good change to police will take him away for you to calm down...