Good Morning,
I am after some help desperately please. I will try and make this as short and to the point as possibly, but would really appreciate some help.
Just before the recession I bought a new build 2 bedroom flat with my ex girlfriend. Due to me going to university and my ex paying out two months rent whilst it was unoccupied I gave her the flat.
So for 5 years the flat has been hers and she has been looking after it and I have had no involvement in it. The only bad thing is that I kept my name on the mortgage.
She has now called me to tell me the house is in 4k arrears and that the flat is also in roughly 5-7k negative equity.
The mortgage is also on a variable rate and is not fixed and the tenant has just left yesterday without paying a months rent.
She has now informed me that I have to give her some money or provide a solution.
This is really unfair as she was happy when I gave her the flat and was due to sell it and make money. Now it has gone wrong she wants me to cough up or find a solution.
The sad thing is I have an appointment with the mortgage advisor booked for next Thursday, the plan was to get myself removed from the mortgage.
So what are my options:
>Take sole ownership of the flat and take on the debt ?
>Pay the 4k arrears and then fix the mortgage in both our names and take half the flat back (I don't think she will have a lot to put towards the arrears)
> Any other options ?
I have an evaluation booked in today with Quirks and also still have the appointment with the mortgage advisor next week.
Any help would be greatly appreciated as I really don't know what to do.
Thank you in advance
I am after some help desperately please. I will try and make this as short and to the point as possibly, but would really appreciate some help.
Just before the recession I bought a new build 2 bedroom flat with my ex girlfriend. Due to me going to university and my ex paying out two months rent whilst it was unoccupied I gave her the flat.
So for 5 years the flat has been hers and she has been looking after it and I have had no involvement in it. The only bad thing is that I kept my name on the mortgage.
She has now called me to tell me the house is in 4k arrears and that the flat is also in roughly 5-7k negative equity.
The mortgage is also on a variable rate and is not fixed and the tenant has just left yesterday without paying a months rent.
She has now informed me that I have to give her some money or provide a solution.
This is really unfair as she was happy when I gave her the flat and was due to sell it and make money. Now it has gone wrong she wants me to cough up or find a solution.
The sad thing is I have an appointment with the mortgage advisor booked for next Thursday, the plan was to get myself removed from the mortgage.
So what are my options:
>Take sole ownership of the flat and take on the debt ?
>Pay the 4k arrears and then fix the mortgage in both our names and take half the flat back (I don't think she will have a lot to put towards the arrears)
> Any other options ?
I have an evaluation booked in today with Quirks and also still have the appointment with the mortgage advisor next week.
Any help would be greatly appreciated as I really don't know what to do.
Thank you in advance