What can I do if my ex partner stops paying their share of the mortgage after separating?

What can I do if my ex partner stops paying their share of the mortgage after separating?

What Can I Do if My Ex-Partner Stops Paying?

  1. Replacing the person coming off the mortgage with someone who can afford it.
  2. Downsizing by selling the house and repaying the current mortgage – note that neither party can sell without the agreement of the other.

Can I stop paying a joint mortgage?

Your lender has the right to pursue both parties either jointly or individually for payments. Refusing to pay the mortgage will severely impact your ex-partner’s credit file as well as yours. You will both go into arrears, meaning it will be harder for you to secure a mortgage or any other form of credit in the future.

Is my ex entitled to half the equity?

Even once a divorce has been granted it is rare that anyone is obligated to sell and there are no set rules that all assets will be split straight down the middle. No single party in a divorce is entitled to 50% of all assets, including the family home.

Can you sue someone for not paying half the mortgage?

You can sue to have the other person removed from the deed, and that may be an easy win if they have never paid any portion of the mortgage, but it’s likely more complicated than that if the other party has made payments.

What happens if I stop paying my joint mortgage?

A joint mortgage means you’re both liable for the mortgage until it has been completely paid off – regardless of whether you still live in the property. If you miss a payment or fall behind on payments, it will negatively affect both yours and your ex-partner’s credit report.

What to do if your ex takes out joint debt?

If your ex-partner took out debt in your name without telling you, either by applying ‘as you’ or adding your name to a joint debt, this could be considered fraud, which is pretty serious. In this situation we’d recommend reporting it to the police.

What happens to a joint loan after divorce?

Let’s look at what would happen to a £1,000 joint loan if your partner left, went into a debt solution, and was no longer paying towards the debt. If your ex-partner goes bankrupt, your joint debt wouldn’t be included in their bankruptcy. You would become responsible for repaying the remaining balance of the loan.

What to do if your ex stops paying your mortgage?

Other options if your ex-partner stops paying and a transfer of equity is refused include: Getting a court order to remove your partner from the title deeds but not the mortgage – they would have no further claim to the property but still be liable for the mortgage

What happens when you take out a joint debt?

You’re both equally liable for the full amount, not just your share or half, and regardless of who spent what originally. Legally, this is called being ‘joint and severally liable’. When you take out a joint debt you link yourself to that person financially. This is done through your credit file.