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JGM, Solicitor
Category: Scots Law
Satisfied Customers: 12188
Experience:  30 years as a practising solicitor.
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Can you please help. My daughter has been told her partner

Customer Question

Can you please help. My daughter has been told her partner is leaving her. They have a joint morgage. They have twins aged three. He wants her to sell the house and she does not want to move the boys as she stays next to their nursery. What are her options. The house may be in negative equity as she tried before to move the provider for better interest rates and were not allowed to. It was 100% morgage. She lives in Scotland. She is finding it hard to hold it together right now so I am trying to get her some answers. He says he is willing to help her untill it is sold.
Submitted: 3 years ago.
Category: Scots Law
Expert:  JGM replied 3 years ago.
Thank you for your question.

I am Scottish solicitor and will help you with this.

I take they aren't married?

Is she in a financial position to take on the mortgage herself?
Customer: replied 3 years ago.

She is not married but his name is on the twins birth certificate. She earns £21000 per annum and the mortgage I believe was about £89000

Expert:  JGM replied 3 years ago.
She should apply to the lender for a transfer of equity in order to take on the title to the house and the mortgage. The only alternative to that is for the house to be sold as he won't want to be tied to a mortgage if he is going to buy another house.

Based on her salary, it is likely that she will qualify for a loan especially if he is paying child maintenance in addition which he is bound to do.

Happy to discuss further.
Customer: replied 3 years ago.

Not sure what you mean by transfer of equity. It is likely to be in negative equity as stated.If she is going to be struggling to pay the mortgage alone surely a loan will make this even more of an outlay ??? It was a no deposit mortgage and it is unlikely that the lender will let her take it over on her salary.

Expert:  JGM replied 3 years ago.
A transfer of equity means a transfer of he title and the mortgage to your daughter, whether or not there is positive equity in the house.

When I mentioned loan above I as referring to the mortgage.

I spoke to a financial adviser this afternoon and asked if a lender would lend £89000 on a £21000 salary. He said most would provided that there was not a lot of other debt.

So it may be worth her while applying to the lender to see if she could take it on. Otherwise her options are limited as she has no claim for maintnance other than child maintenance.

Happy to discuss further.
Customer: replied 3 years ago.
Relist: Answer quality.
Totally unrealistic that a person on that salary with two young children and childminding costs would be able to take this line on a salary of £2100O. Did mot need an expert to say it or keep it.We knew that before we asked the question.
Expert:  JGM replied 3 years ago.
You didn't mention the childminding costs. If you have further information I'm happy enough to continue this discussion but I suspect that the house will have to be sold and your daughter will have to find somewhere else to live.
Customer: replied 3 years ago.

It does not take an expert to know that aged 3 twins will require childcare. I don't wish to continue as you have been no help at all.