Hi all,
I havent posted here in a good while, the last time I was looking to purchase a house and was jumping up and down as we were finding it difficult to get mortgage approval. Anyway fast forward a year and a half and myself and my partner have split up and he moved out nearly a year ago. (He still pays his half of the mortgage) I would love some advice on what to do. Here are our options as far as I can see:
1. Sell up - however there are new houses available in the same estate - not sure how this would work?
2. Me buy him out - however I would not get the full mortgage to do this, I checked this out with my solicitor last year and the bank laughed at us! However a year has passed, so maybe it may be different?
3. Him buy me out - would be same as myself - not earning enough to cover all the mortgage.
Has anyone any ideas/advice for me?? I love living where we are and the children love it too but if I have an option to sell, I would. We cant keep going the way we are - he cannot afford rent and pay half the mortgage and I cannot afford the whole lot.
I have 2 children also so not sure about renting it out then me going to rent somewhere else.
I have no experience with renting as I had purchased a property myself before we bought this property.
The outstanding mortgage is 260 and its around 1200 per month.
Thanks everyone
B
I havent posted here in a good while, the last time I was looking to purchase a house and was jumping up and down as we were finding it difficult to get mortgage approval. Anyway fast forward a year and a half and myself and my partner have split up and he moved out nearly a year ago. (He still pays his half of the mortgage) I would love some advice on what to do. Here are our options as far as I can see:
1. Sell up - however there are new houses available in the same estate - not sure how this would work?
2. Me buy him out - however I would not get the full mortgage to do this, I checked this out with my solicitor last year and the bank laughed at us! However a year has passed, so maybe it may be different?
3. Him buy me out - would be same as myself - not earning enough to cover all the mortgage.
Has anyone any ideas/advice for me?? I love living where we are and the children love it too but if I have an option to sell, I would. We cant keep going the way we are - he cannot afford rent and pay half the mortgage and I cannot afford the whole lot.
I have 2 children also so not sure about renting it out then me going to rent somewhere else.
I have no experience with renting as I had purchased a property myself before we bought this property.
The outstanding mortgage is 260 and its around 1200 per month.
Thanks everyone
B