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ukfamilysolicitor
ukfamilysolicitor, Solicitor
Category: Law
Satisfied Customers: 1085
Experience:  Qualified Solicitor Currently specialising in Family. Also experienced in Corporate, Employment, Civil Litigation, Debt Recovery
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I bought a house with my ex-fiance maybe three years

Resolved Question:

Hello, I bought a house with my ex-fiance maybe three years ago, a few months after moving in she ended the engagement and I moved out.
It wasn't an acrimonious break up and she said she wanted to keep the house, I agreed since the deposit had been her inheritance from her grandmother and she said she'd sort getting my name off of the mortgage.
A year or so later I had saved enough money for a deposit and wanted to buy a property of my own, however when I enquired with our old mortgage lender it turned out I was still named on the mortgage with my ex, despite not having been contributing to it. I got in touch with my ex and she contacted the bank to again try to remove me from the mortgage.
Progress has been very slow, but eventually she was told she would have to find some one to go in on the mortgage in my place or sell the house. She said she had someone who could replace me on the mortgage but I'm yet to be contacted by either my ex's solicitors or the mortgage lender.
My ex gave me the name's ***** ***** people she was dealing with at the mortgage lender so I could enquire but I was told they could not speak to me as my name was not in the new application.
The ownership is split 60-40 with my ex owning the larger portion. Is there anything I can do in this situation or do I simply have to continue to wait? The whole process has been going on for almost ten months now.
I'd appreciate any information I could get.
Thanks.
Submitted: 2 years ago.
Category: Law
Expert:  ukfamilysolicitor replied 2 years ago.
Hello
Thank you for your question.
You could make an application to the court under the Trust of Land Act for order of the sale of the property and also for a decision as to your share.
The Form that you need to complete is Form N208. More commonly known as a Claim Form (Part 8). You would also need to provide a written statement in support of your claim.
Kind Regards
Caroline
I would be grateful if you could kindly rate my answer. I am new to this service and positive feedback is therefore gratefully received.
Customer: replied 2 years ago.

Hi Caroline, thanks for your response, if you are able to would you mind giving me a brief outline of what I might expect should I take that option, or perhaps point me somewhere I can read about it? I realise it's a broad area, but how much might it cost? I don't really want any money from the process, I hadn't paid much towards the mortgage by the time we broke up so trying to assess whether it's a worthwhile option.

Any further information you can provide would be gratefully received, and beyond that I'd be happy to positively review your answer based on the information you've already supplied.

Thanks,

David

Expert:  ukfamilysolicitor replied 2 years ago.
Dear *****
I am more than happy to do this for you. I am at Court this morning but will prepare a lengthy response for you this afternoon.
I hope this is ok.
Kind Regards
Caroline
Expert:  ukfamilysolicitor replied 2 years ago.
Hello David
Thank you for your patience.
As your property is in joint names - and you are tenants in common then technically you are entitled to a split of the property as per the terms you have detailed - that being 60/40 in your partners favour.
It is likely that your ex will ask argue that as you haven't been paying the mortgage for the last 3 years then her share should be bigger. Your ex's deposit was likely paid during the same transaction when the mortgage was taken out and the property was bought so it could be argued that your shares were agreed on the basis (yours being lower) because of her deposit. This would be your argument. Your ex would probably argue differently.
If you can't agree what share you should get then that is when you are going to have to make an application to the court - for them to decide what your share of the equity is and also for an order for sale so your share can be realised.
It is likely that the mortgage company are unwilling to let your ex take on the mortgage on her own. They are not bound by any agreement that you make or even a court order. They could currently pursue you if the mortgage payments were not met and / or if the house was sold at a loss - and they won't want to give that up! Hence the property having to be sold so that you can both move on if she can't find someone to replace you. Although your ex could indemnify you (you can chase her if you have to pay any short fall) this can often be hard to get money back when they have already defaulted and it won't help you get the mortgage your after now.
If a replacement is found then don't sign over your rights so easily without a settlement as you are entitled to a share of any equity.
As mentioned above - if you can't agree on the share and she also can't find a replacement for you then an application will need to be made at court to confirm your share and also ask for order for sale. Form N208. Send to your local county court. Court fee is £280. You can just ask for an order for sale if you want. You'll need to check your position on capital gains tax if you give your share away - dependant on how much the equity is.
You can represent yourself in the proceedings. Solicitors fees and barristers fees for a contested application could be around £4k
This is a nice link for some background:
http://www.crippslink.com/index.php?option=com_content&view=article&catid=32%3Aproperty-disputes&id=718%3Acohabitation-a-review-of-the-trusts-of-land-and-appointment-of-trustees-act-1997&Itemid=537
Kind Regards
Caroline
Positive feedback is gratefully received.
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