Good morning all I'm not sure if I'm in the right forum as I am new but please bear with me I hope someone can point me in the right direction!
My fiancé and I have been together 6 years, prior to our relationship he had a long term relationship with someone and they had a child and bought a house together. The house was purchased in Dec 2007 and was purchased through a mortgage of £82500 and a deposit put forward by my fiances parents of £40000. This deposit was written up by a solicitor and stating that upon sale of the house £40000 is to be returned directly to my finances parents- this money is to be their sons inheritance.
When my partner and I met in 2009 his ex remained in the home with their four year old son and paid the mortgage independently, my finances name is still on the mortgage. There were lots of issues in the early days including severe arrears ( that we were unaware of at the time) and the threat of repossession- we only found out about these issue by accident as she will not allow him access to any paper work or even the home. However since around 2013 the mortgage has been brought back up to date ( by the ex) and us been being paid regularly by her and her new partner.
Now it gets complicated. We have had a phone call This evening to ask 'if she moved out would we (my partner and I)' be interested in the house. When questioned it surmises that her and her partner have split and she is not able to afford the house on her own.
My question is what happens now?? My partner and I would very much like the house of we could ( we have been looking for somewhere new and we rent at the moment) and we would happily take over the mortgage to maintain the property for his sons future and his parents investment. However she is under the impression that she would 'have some money' out of the scenario- I think she's hoping for us to buy her out, something we don't have the means to do. Question is what CAN be done? My partner an I have no savings as we are marrying next July and though we would be able to afford a mortgage I'm not sure we would get one due to the unstable nature of my job ( I'm a teacher and there are no permemant contracts) and previous credit history.
We would like to secure his parents investment but also not lose the opportunity to own our own property: what are our options?
Again apologies if I've rambled or anything is confusing please ask if you don't get what I mean as any advice is welcome.
I have no preconceptions, in all honestly I've I just wanted his name off the mortgage for some time preferably before we marry next year but with this new issue I don't know what our options are and I certainly don't want the mortgage falling into arrears again- the last time that happened she said have would rather have it repossessed that let us live there, we are already in a better place as she's offering this time!
Thanks all!
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Divorce/separation
Seperate on (7year gone) and mortgage
31 replies
Wanda82 · 08/05/2016 08:37
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