Interim order on my property

[BeHappyMaker]

Hi all
Advice please. My joint mortgage partner went awol to the USA 2 years ago. Since then I have paid all the mortgage payments, council tax and gas/electric on my own.

I have saved up and agreed to buy him off the mortgage and property deeds next year,when our current product expires (on the advice of my mortgage broker).

However, today I've had an interim order regarding some of his UK debt.

The solicitors want to impose a charge on the land we jointly own.

Advice please
Thank you

When you buy him out then the amount due under the charge you pay direct to the creditor and you pay him the remainder.

Eg. if you were buying him out for £80k and the debt is £40k you clear the debt and have the charge removed and then pay him the other £40k. Be aware though that potentially the debt will continue to grow with interest.

I assume you are holding as joint tenants and if not sever the joint tenancy ASAP.

He has agreed to come off the title deeds and mortgage for an agreed amount.

I have bee advised by my mortgage broker that it is best to wait until next year when our product expires.

I am so distressed with how my partner left and now I'm dealing with all his aftermath

But you don’t have to deal with it. When you pay him off you must go to a solicitor. They will ensure that the creditor is paid off out of the money you are paying him.

i would get some legal advice here - it may well be more beneficial to you to remortgage now and take the hit on the early redemption as you just never know what might happen between now and when the mortgage is up for renewal.

He will need to file a CGT60 form for the sale too