my girlfreind decides to leave

[be back soon]

Me and my girlfreind have been together for 2 years when we so a house that we both liked. So we decided to get a morgage. We got are morgage with intelegence finance and we both signed a 2 year fixed rate agreement, but after 6 months my partner decides she want's to split up with me and not pay the morgage. Then demands i put the house up for sale because she's entitled to half of what the house is worth. But i still want the house i just want her name off the morgage to save future argument's but she wont sign a letter agreein to me being the sole owner of the property. Is she entitled to half the property although she's broke a contract and also stopped payin her half???

[Ethel]

It is not that simple - the mortgage company would have to agree to the mortgage in your name only. You will need to satisfy them that you can afford it on your own income.

She is not entitled to half the property - she doesn't own half. The mortgage company owns it - she owns the debt with you.

She may be entitled to half the profit (if any) - that is the current value of the house, less the outstanding mortgage.
Plus any money she has paid in (including deposit) less any consideration - what she would have paid elsewhere in rent.

Her signing a letter is not good enough - it is meaningless if the mortgage company refuse to transfer the whole mortgage to you.

[ChuffingHell]

This is serious stuff and could ultimately leave you with bad credit history if it all goes t*ts up and the company reposses the house.

First thing I would do is talk to the mortgage company fast!!Explain the situation and get their advice as how to proceed - you most definately aren't the only one who will have ever been in this position and they may be able to give you some guidance. Crucially, they may also be able to freeze or reduce the payments until everything is resolved.

After that point, I think getting some legal advice would be a good idea. If your ex has now stopped paying her contribution, you are paying the full amount of a debt which you only own half of, which is not fair. A stiff reminder to her that she can't just walk away from the obligation until the matter is resolved is probably in order.

After that point, as ethel said, your company need to look at whether you can afford this debt on your own. If so, then it may be fine. If not, then you may have no choice to sell where by you and your ex partner will have to consider what they get out costs are on cashing inthe mortgage before the 2 year period is up - sadly, this may eat up any deposit you have put into it.

good luck.