2 questions: mortgage query and advice on stopping ex living in my house

[princesshobnob]

We have 2 mortgages, both solely in my name. A flat that is rented out, and a house where I currently live with ex and our child.

Due to his addiction / irresponsibility with money, I need some help.

He's supposed to be paying the house mortgage, but currently spending all the money. If I sell it, then I face paying a penalty of over 18k.

The flat, if I paid the mortgage back early would only have a penalty of 3k. My house mortgage can be transferred to another property, and I would only pay a penalty of 10% of whatever I pay back early. So, does anyone know if in theory I could sell the house, and transfer the mortgage from the house to the flat? (Hope that makes sense) - that way, I would save about 10k in penalties.

Secondly, I want ex to leave, he doesn't want to go. I've had enough of the financial insecurity on top of everything else. What would I have to do to make him leave? (Solicitor-wise route).

Thanks in advance for any advice

A lot depends on his entitlement. Have you agreed that part?

If you sell the flat you would redeem that mortgage, unless you sell it at a loss why do you need to mess with the mortgage on the house?

I cannot afford to pay the house mortgage, and he is spending money rather than contributing to paying for it - I don't want to end up in huge debt, or be reposessed.

So - I unless he suddenly starts acting responsibly, I need to sell the house - the flat mortgage is taken care of by the lodger.

But if I sell the house, it's within the fixed rate period, and I'd lose loads of money. But if I could move the house mortgage to the flat, it would save me about 10k - but could I use a mortgage in my name to pay off another mortgage in my name?????

I dont think what you're trying to do is possible. You can usually port your mortgage to a new property but they may not class this as a new property as you already own it.

You also need to look at the percentage your ex is owed as this may make a difference in your plans.

How long have you got left on the fixed rate?

The flat has another year of fixed rate, but only a 3k penalty this year.

The house has almost 2 years, and has a 10% penalty.

The flat is really his, as he provided the deposit (but hasn't got a registered interest), so he'd get that back, plus at least half any profit.

I put up all the deposit and own a third of the house - the idea was that we would split any profits when we sold, but it's unlikely to make any at the moment, and there would be the penalty anyway to pay.

I thought it was worth a shot as a way round things, but probably unlikely I guess