Separated with joint mortgage in negative equity

S

Subie

Registered User
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Hi all could anyone point me in the right direction here .

Bought a house with ex partner ( not married ) in 2006 for €500k.
We seperated two years ago and house is now rented .
I'm expecting my first child soon and can't keep topping up the rent to make the mortgage payment .

House est value at €300-€350k
35 year mortgage with 27 years left .

What do I do ?
Sell , sit on it , or speak with bank ?

Any suggestions welcome
 
What would you ideally like to see as an outcome? Get rid of it even if it means apaying off the additional debt - 100-130k neg equitity perhaps split between two.
Is your ex able to take over the whole house and mortgage?
Or are you in a position to take it over with your new partner - if you have one.
 
Thanks for the Info and it's a big help but where do I stand if I try to sell and their will be outstanding amount on the mortgage about €100k-€120k which will be split .
Does ptsb alloy this ?
 
In addition you will need his consent to sell as you both are on the deed.

I doubt if ptsb will divide the NE in two and treat it as individual debt as opposed to joint and several which is what you have now.
 
It won't allow me to copy the post into this and update extra information .
 
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