Hi all,
bought house 2006 for 325,000
split amicably with partner in 2007
paid 70% of the mortgage myself from 2007 - 2010
moved in full time on my own in 2010 and since then took in a room renter and paid full mortgage
renter moved out in 2012 and since then have paid full amount myself each month, all bills, etc
now house prices are increasing so considering options - i want to be completely split from ex financially.
outstanding mortgage ~280,000
options:
1. take over mortgage myself - but can only get max of 239,000 at min from ebs - short about 40k
2. sell now and split negative equity - but if i do this, do we end up with one loan to pay off neg equity or is that split in 2 and we each have to seperatly pay off our negative equity alone? we'd each have to come up with 60k
is it even possible to get financially seperate from ex partner so i can start over!?
thanks in advance.
bought house 2006 for 325,000
split amicably with partner in 2007
paid 70% of the mortgage myself from 2007 - 2010
moved in full time on my own in 2010 and since then took in a room renter and paid full mortgage
renter moved out in 2012 and since then have paid full amount myself each month, all bills, etc
now house prices are increasing so considering options - i want to be completely split from ex financially.
outstanding mortgage ~280,000
options:
1. take over mortgage myself - but can only get max of 239,000 at min from ebs - short about 40k
2. sell now and split negative equity - but if i do this, do we end up with one loan to pay off neg equity or is that split in 2 and we each have to seperatly pay off our negative equity alone? we'd each have to come up with 60k
is it even possible to get financially seperate from ex partner so i can start over!?
thanks in advance.