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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11743
Experience:  30 years as a practising solicitor.
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I live in Scotland and am considering handing keys back to

Resolved Question:

I live in Scotland and am considering handing keys back to accord mortgages as after two years of trying to sell property is unsold...living in a rental...ex partner on mortgage refusing to pay anything more to mortgage from july 1st and I cant pay all of it on top of rent....can you advise as to "best way " to do this? keen that he has to pay his share of debt if sold for less than mortgage but he thinks he is allowed to just walk away???
Submitted: 3 years ago.
Category: Scots Law
Expert:  JGM replied 3 years ago.
Thank you for your question.

You can advise the mortgage company that you are no longer in a position to pay the mortgage and hand the keys back to them. If your ex does the same then the mortgage company will repossess the house and sell it, claiming the shortfall from both of you. Make sure they have his current address! This would all take no more than a few months.

If he doesn't consent and doesn't hand the keys back they will have to formally call up the loan and repossess.

If you are trying to buy a car and need finance then do so beforehand as a repossession will affect your credit rating.

I hope this helps. Please leave a positive response so that I am credited for my time.
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