# unmarried couple splits up and the house is in NegEquity :money paid into mortgage?



## sophia (1 Oct 2009)

Does anyone know if an unmarried couple splits up and the house is in negative equity, would i be entitled to any of the payments i made towards mortgage when i lived there? i have moved out he has stayed in the house, but my name is still on the house. ive walked away with nothing and feel i should be entitled to some sort of payment from him?


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## truthseeker (1 Oct 2009)

*Re: Am i entitled to money paid into mortgage?*

Whose name is on the mortgage?
If the house is in negative equity and your name is also on the mortgage then you are responsible for half the debt.

If your name is not on it and you are free to walk away with nothing Id be counting my lucky stars I wasnt responsible for half the debt!

Why do you feel entitled to anything, didnt you have a roof over your head for the rent you were paying monthly?

He was presumably making payments monthly also - and for his money he now has a property in negative equity.


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## pcocp (1 Oct 2009)

*Re: Am i entitled to money paid into mortgage?*



truthseeker said:


> Why do you feel entitled to anything, didnt you have a roof over your head for the rent you were paying monthly?


 
well said.

depends of course on whether you're name was or was not on the mortgage. If not, you're not left with a house with -'ve equity, that should be 'payment' enough.


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## sophia (1 Oct 2009)

*Re: Am i entitled to money paid into mortgage?*

Both our names are on the mortgage, he is happy to live there paying the mortgage im waiting to get my name off the house. Im just anxious that in  a few yrs time when the market picks back up he could sell and make money on it, where as i have to start all over again from scratch!!!!


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## Towger (1 Oct 2009)

*Re: Am i entitled to money paid into mortgage?*

Pick up... You'll be needing a zimmer frame by them. You'll be more that lucky to just get your name off the mortage.


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## truthseeker (1 Oct 2009)

*Re: Am i entitled to money paid into mortgage?*

Now its a bit clearer.

What you need to do is effectively sell out your share in the property, which because its in negative equity means you will owe him money.

This is of course dependant on whether or not the bank will agree to re-mortgage him for the new higher amount.


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## Kine (1 Oct 2009)

*Re: Am i entitled to money paid into mortgage?*

It's a lot more complicated than just taking your name off. Both of you should get some advice (legally and financially) on this.


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## Blinder (1 Oct 2009)

*Re: Am i entitled to money paid into mortgage?*



sophia said:


> Both our names are on the mortgage, he is happy to live there paying the mortgage im waiting to get my name off the house. Im just anxious that in  a few yrs time when the market picks back up he could sell and make money on it, where as i have to start all over again from scratch!!!!



So at the moment he has a house that is less than the mortgage.
You have a option of buying a house that is worth more than the mortgage on it.

Simple maths
His house worth A, mortgage on his house is A+B
You buy a house now worth A

In X number of years
His house worth 2A
Your house worth 2A

Money he makes is 2A - (A+B) = A-B
money you make is 2A - A = A

Now, in who's position would you rather be in? 

Hint : Starting from scratch is a much more preferable position to start from  than starting from a negative position.


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## murphaph (1 Oct 2009)

*Re: Am i entitled to money paid into mortgage?*

Exactly. You'll owe your partner money so be grateful if he LETS you walk away and if the bank agree to remortgage him on his own. The bank could be a big problem here-you may be forced to simply sell up and you and your ex would then owe the bank the difference between you! Get legal advice before proceeding here.


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## so-crates (1 Oct 2009)

*Re: Am i entitled to money paid into mortgage?*

Short answer is you are not entitled to any refund on a money you have spent servicing your debt. You are lucky to be walking away from it with someone else willing to shoulder your half of the responsibility. Paying off a mortgage is not the same as building up savings. The money is returned to the bank. It isn't returned to your ex-partner.


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## Bronte (2 Oct 2009)

*Re: Am i entitled to money paid into mortgage?*



sophia said:


> Both our names are on the mortgage, he is happy to live there paying the mortgage im waiting to get my name off the house. Im just anxious that in a few yrs time when the market picks back up he could sell and make money on it, where as i have to start all over again from scratch!!!!


 
Well why don't you keep your name on the mortgage, pay half the mortgage and when the market picks up you both can sell and make money on it.


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## Towger (2 Oct 2009)

*Re: Am i entitled to money paid into mortgage?*

I dont think Sophia likes our answers?
I suppose her real problems are; she won't (or very hard) get a second mortgage from a bank while she is still on the first, and if the Ex loses his job or does a runner etc the bank will go after her for the money.


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## sophia (4 Oct 2009)

*Re: Am i entitled to money paid into mortgage?*



murphaph said:


> Exactly. You'll owe your partner money so be grateful if he LETS you walk away and if the bank agree to remortgage him on his own. The bank could be a big problem here-you may be forced to simply sell up and you and your ex would then owe the bank the difference between you! Get legal advice before proceeding here.


 
thanks for the replys...The bank have agreed a waiting period with us before i can sign it over. And believe me he wont give up tat house without a fight so is happy sit there with his neg. equity. I just wanted to throw it out there to see if i had any other options as some people were tellin me im entitled to something but i knew i wasnt in the long run.. Also i wont get anther mortgage with my name still on the house!!!


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## ajapale (4 Oct 2009)

*Re: unmarried couple splits up and the house is in NegEquity :money paid into mortgag*

What does your solicitor advise?


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## sophia (4 Oct 2009)

*Re: unmarried couple splits up and the house is in NegEquity :money paid into mortgag*



ajapale said:


> What does your solicitor advise?


 
Advised me to sign the house over when i can and leave him with the negative equity.


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## Complainer (4 Oct 2009)

*Re: unmarried couple splits up and the house is in NegEquity :money paid into mortgag*

Are you OK to share the loss with him if the market doesn't recover in a few years time?


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## sophia (6 Oct 2009)

*Re: unmarried couple splits up and the house is in NegEquity :money paid into mortgag*



Complainer said:


> Are you OK to share the loss with him if the market doesn't recover in a few years time?


 
No if i sign the house over to him next yr the house will be entirely his in his name so it wont be anything to do with me anymore


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## Complainer (6 Oct 2009)

*Re: unmarried couple splits up and the house is in NegEquity :money paid into mortgag*



sophia said:


> No if i sign the house over to him next yr the house will be entirely his in his name so it wont be anything to do with me anymore


I guess you can't have it both ways. If you want to keep a share in the market, you have to be prepared to take the losses, not just the gains.


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