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JimLawyer, Solicitor
Category: Property Law
Satisfied Customers: 14219
Experience:  Senior Associate Solicitor
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Can I ask you a mortgage related question?... Me and my wife

Customer Question

Hello my name is***** ask you a mortgage related question?... Me and my wife may soon break up .the mortgage is on my name only.i currently have a outstanding mortgage of about £40k my house is valued at about 90k.if I give up the house back to the lender.what do you think the outcome would be?
JA: What steps have you taken so far? Have you prepared or filed any paperwork?
Customer: No not yet
JA: Have you talked to a lawyer about this?
Customer: No not yet
JA: Anything else you want the Lawyer to know before I connect you?
Customer: No
Submitted: 1 year ago.
Category: Property Law
Expert:  JimLawyer replied 1 year ago.

Hello, this is Jim, a dual-qualified lawyer (UK & Republic of Ireland) and happy to help you today.

The house is matrimonial property so she may be entitled to a share even if she is not on the mortgage. She could register home rights to claim a share of the property - this may stop the lender from taking it back. You would need to stop the payments and default on the mortgage if you wanted the lender to take possession. Your credit rating would be affected. There is £50,000 equity in the property too - you could agree to sell the house and deal with the proceeds (share them, or if you have arguments to keep all of them, you can negotiate with her).

I hope this helps? If I have answered the question would you kindly leave me a 5 star rating (at the top of your screen), any follow up questions are welcomed.

Many thanks,


Customer: replied 1 year ago.
What if I sell the property for only the outstanding balance?
Expert:  JimLawyer replied 1 year ago.

For £40k?

Customer: replied 1 year ago.
Expert:  JimLawyer replied 1 year ago.

Thanks, ***** ***** like you clicked the call request button - apologies I can’t take a call at the moment but other experts are free to contact you. If no one calls you then you will not be charged for it - an "authorisation" has been made for payment, that's all. However, the call request is open to all experts - if you want to cancel the call then please go to this link:

I can continue with the question online if that suits?