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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10737
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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My daughter and her partner split up in November. They have

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My daughter and her partner split up in November. They have a mortgage in both names. The mortgage is on a fixed rate that runs until May 2015 and to come out of it now would incur a large penalty so it was agreed that my daughter would stay on in the house and hopefully take on the mortgage herself when the fixed rate finished. Her partner agreed to pay half of the mortgage until the fixed rate finishes but he has now decided that he does not want to carry on with that arrangement.
Please can you advise as to whether he has any legal obligation to pay half the mortgage until the house is either sold or hopefully transferred into my daughters name.
Is the only other option to put the house on the market and if so can she ask that he covers the cost of the penalty charge.
and thanks Just Answer.
My name is ***** ***** am happy to assist you with your enquiry.
As the Mortgage is in joint names, both parties are "jointly and severally" liable mortgage payments, which means the Lender could pursue either of them or both of them % each.
Therefore, your Daughter's partner does indeed remain legally bound to pay the Mortgage, even though he has vacated.
The Lender won't mind who pays the Mortgage- whether it be 50% each or one party paying the full 100%. However, if the Mortgage is not paid, there is a risk that the property would be repossessed if arrears amount to over 2 months of Mortgage payments. It is therefore in the best interests of your Daughter's partner that he contributes to avoid any arrears building up (and him potentially receiving a negative credit entry if arrears build up or late mortgage payment). I am saying this, so your Daughter has some ammunition.
I would suggest that your Daughter approaches the Lender to see if the Mortgage can be transferred into her sole name- even though they are within a fixed rate period, the Lender MAY be happy to transfer the mortgage upon the same terms as the "existing mortgage" during the fixed rate period.
Alternatively, your Daughter should consider putting the property on the market now- it may take a good few weeks to find a Buyer, and once a Buyer is found, explain to them at the onset that completion of the Sale will need to be delayed until May 2015, once the early repayment charge is no longer payable. Once a Buyer is found,the Conveyancing process takes a good 8-10 weeks, so depending on when a Buyer is found, there may not be much of a delay until May.
I hope this assists you and sets out the legal position.
Kind Regards
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