My now ex partner and I parted ways in 2009. We had a mortgage together for the property we lived in. When we split she agreed to sign over her half of the property to me as there was no equity in it and it would cost us more to sell it for a loss.
Before I got the chance to do everything legally she went bankrupt. Because she was still named on the property, the insolvency service took her beneficial interest. At the time I struggled on my own to pay the bills and mortgage but managed.
I now want to sell up and move on with my new partner. I downloaded the land registry for the property and there are restrictions on it, put on by the insolvency service.
The property is in negative equity, our mortgage was interest only.
I have contacted the insolvency service and they have said I can buy the beneficial interest for £1000 + £211 solicitors fees.
I will then have to pay a solicitor to remove the restrictions.
Firstly, do I need to go down this route? Can I sell the property with the restrictions in place due to the property being in negative equity?
Do I need to get my ex partner removed from the mortgage and deeds, and what is the easiest way to do this considering we don't speak anymore?
The whole situation is getting to me now as it feels my ex partners financial mistakes are preventing me from moving forward with my new life.
Any help would be greatly appreciated.
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5 replies
Sharpy3775 · 14/09/2016 19:52
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