Quizzes & Puzzles12 mins ago
Joint Mortgage with friend
Can you help me i took out a joint mortgage with a friend who i used to work with, that was back in August 2003. In Dec 2003 she moved out due to meeting a new partner, She has never paid a penny towards the mortgage since dec 2003 to present date.I paid the deposit on the house and paid for all the home improvements new kitchen,windows, extension etc all since she has left. I had a agreement drawn up at the time to say she would be entitled to 30% of the property value if we ever sold. This was based on her paying half the mortgage payments untill i decided to sell. At the time she was always telling me and my friends, she would never take anything from me, if i sold the house this was a couple months after she left the property,last year i recieved a letter from her solicitor saying she wanted her name removing off the mortgage, and she wanted a pay out of �10,000 which shocked me as i had paid all the mortgage payments and the deposit and all the home improvements were paid by me. Her letter from her solicitors stated she appreciated she has not contributed to the mortgage since dec 2003 but felt i would not be living in this house if it was not her . I owned my own house for ten years prior to buying this one, she was living at home with her parents, we worked together and was best friends and she at the time needed to get away from her parents and offered toget a joint mortgage together, she said it would help me because i could use my money to buy a property that needed work doing to it, and weith her on the joint mortgage it would help me as she would pay half the payments , so i bought a house that needed work doing to it in a good area used all my money to do it up, this was always under the under standing she would pay half towards the mortgage.I think i need to take her to court as i cant afford to give her any money, i dont want to lose my home please help , how can i go to court.Thank you
Answers
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For more on marking an answer as the "Best Answer", please visit our FAQ.You say that you had an agreement drawn up:
1. was this a proper contract drafted by a solicitor?
2. does it contain any provisions saying what happens if either party were to breach or abandon the contract?
3. does it say how either party could terminate the contract and what happens then?
If "yes" to 2 and/or 3, could you please post the exact wording so that I can give it some thought before further replying.
hi, you need to get yourself a solicitor who deals in this area secondly has the mortgage always been paid by direct debit from your bank account ? you need proof of this if you have speak to your bank and ask them to send you a year on year statement of your mortgage payments you need to do this with all of your utility bills too, just to basically prove its all in your name and that you have paid, with regards to all of the work you have had done on the property have you got reciepts, if not reciepts gaurentees? once again this will go in your favour as you will be seen as the main payee.
Basically you need to prove that you have paid for every thing. you need to sort this out quick and p.s you friend is absolutley abismal!!
if you had to go to court, unless your friend could prove that she has paid half of everything to-date then she will end up with egg on her face and with nothing
dont worry just seek some advice from a solicitor.