recentley bought a house but now split with partner – shall we rent the house?
Unfortunately my boyfriend no longer wants to be with me. It’s all happened so suddenly and I’m still in shock. I love him to bits but can’t be with someone who doesn’t want me. My family and friends deserve my time more than him. (This is what I keep trying to tell myself anyway!) It only happened 2 weeks ago so it’s still sinking in. I have told him we will discuss what will happen with the house when I get my head together! We bought a house 7 months ago. Our mortgage is really really high and I don’t know what to do for the best. I can’t live with someone who doesn’t want me – it really hurts! I’ve been staying at my parents but they are worried I am running away from a home I pay for and love. He is still living there because he doesn’t want to go back to his parents. He wouldn’t mind me living there until we sort out the house but I just can’t bear it! I have tried to make it work but he doesn’t want to.
The reason for my post is because I wondered if anyone has any advice? Shall we rent it out? If we do that then we will be still losing money because the rent would be so high if we charge the same as our mortgage/bills that people won’t be interested! Do we risk loosing around £300 a month to just rent it out? I really don’t think I can handle having any contact with him if we do this route! I’m a believer of losing touch with someone to move on…
Do we sell and lose money AND pay for the early mortgage get out fee?
Do I get a loan and buy him out?
Can anyone help me?
I appreciate your time.
PrincessPink – 25 years old
Sorry Princess, but this mess is going to cost you money. I wish that this were not so, but in the current economic climate, it is inevitable.
Do not be tempted to try to rent the property out. This will be a breach of the mortgage terms and will land you even deeper in the mire. You could, in any event, not really let it out with your ex still in occupation. A lodger, with one or the other of you still occupying, would be different as the property would still be owner-occupied.
The best advice for you is to go and see a solicitor and explain the full position to him/her. When you do so, you will need to discuss the prospects of either you or your ex becoming a sole owner and responsible for the whole of the mortgage [without you still, as you do at the moment, retaining full liability for the property but getting none of the benefit]. You will also need to discuss whether to apply to the court for a formal order for sale or some other, equitable, settlement.
You are young enough to bounce back from this. I hope that you do – and quickly! Good luck with it.
well he or you can get roommates and still live there till it can be sold. Don’t pay his rent without kicking up a bit. Seems pretty nasty to me. He is in this house and you’re paying for it BUT he wanted out!
Grow some backbone. Tell HIM how it’s going to be! either he finds someone to pay the rest of the costs or right away get realtor to rent it out.
right now he lives way above his means and YOU are paying for it. He wanted OUT let him get OUT!!
Don’t pay one more cent for his LUXURY!
Do you have a brother or sister that might want to get in to the market with a person that can’t do a runner on them? If yes, this is a wonderful way to help each other. Mortgages can be split in to two these days, you pay your side, they pay theirs.
Siblings are much more likely to be with you in the long term than lovers.
If you can do that, that might be your answer.
I think you both should talk about this, if you feel you can’t then a solicitor.
You are paying your half and you ain’t living there and the same would be if you were living there and your ex moved out (paying his half and not living there).