Short history
- large mortgage taken out at the top of the market (2006) - just over Eur600k, I funded deposit of Eur50k
- joint mortgage with ex (not married), for 6 years we split the mortgage 50/50,
- acrimonious split, we both went overseas, place is now rented, not currently covering mortgage payments (monthly shortfall of Eur200)
- at time of split property was in negative equity of about Eur 300k - ex wanted me to pay her out 50% of 'purchase price'...ignored evidence of negative equity
- since then i have topped up the mortgage and paid all other costs/tax since....she has ignored it
- equity in property now is probably about Eur250k
Sense check my plan
- my plan is to hold the property until the mortgage is paid and with the bank out of the picture go to court to see about having her name taken of the deeds
- really interested to hear views on what i should be doing to reduce the risks of this....or whether i should be doing something completely different.