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Alex J.
Alex J., Solicitor
Category: Family Law
Satisfied Customers: 3671
Experience:  Solicitors 2 years plus PQE
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My partner and I split up 5 years ago but still have a joint

Customer Question

My partner and I split up 5 years ago but still have a joint mortgage. The property is approximately £30k in negative equity but we want to sell it (it is currently rented out). My partner is saying she can't pay anything towards the negative equity. What can I do?
Submitted: 4 years ago.
Category: Family Law
Expert:  Alex J. replied 4 years ago.
Hi,

Thank you.

Does your partner have any funds to pay the £30k? What you could do is sell the property and then pay off the £30k yourself at which point you would be entitled to sue your co mortgagor for a contribution.

Would you be prepared to sue your partner?

Kind regards

AJ
Customer: replied 4 years ago.

Thanks for coming back to me. I could pay the deficit with the help of my new partner. I know my ex has recently had a baby so I'm not sure of her personal financial situation but do know that her partner is in a position to help.


I would be prepared to sue but I guess it is cost vs benefit - how much is it likely to cost me and if she doesn't have any assets what is the likely outcome?

Expert:  Alex J. replied 4 years ago.
Hi,

Thank you.

It would only be worthwhile suing if you knew your partner had assets otherwise it is good money after bad.

Have northern rock refused to negotiate?

Kind regards

AJ
Customer: replied 4 years ago.

Well we had offered a lump sum of £10k as full and final settlement for my half which they refused but I might give them a call to see if I can try again with a slightly higher amount...

Expert:  Alex J. replied 4 years ago.
Hi,

Thank you.

The best way to convince a bank of your offer and is to provide them with the justification for the offer
I.e an offer based on affordability.

If you show the bank at least a statement of means an assets and show what you can pay now and what you can afford in instalments (subject to a cap) they are much more likely to accept it. I would not however agree to pay any more than £15k.

I look forward to hearing from you.

Kind regards

AJ