Am I liable for whole debt on joint mortgage if house repossessed

S

sophia

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I need to know if the bank repossess my house will they go after my ex who lives abroad for half the debt, or will i be made responsible for the whole debt as it's a joint mortgage.

Also if there's no contact from the other person named on a mortgage is there a loop hole to allow me to surrender it if i've proof that i tried to contact him to surrender. We are not married.
 
The liability is for whoever took out the loan. So both of you are equally liable.
Doesn't matter if your ex is abroad, he is still liable. But it does make it very hard to get hold of him to answer for his dues.
You are likely to be the easy target for the bank as you are in the country and are likely to respond to their letters and threats.
All you can do if offer to surrender your part of the house.
They still need the consent or to be able to inform the other party what they intend to do.
Messy with him out of the country and no doubt being not very helpful with the mess.
Question:
Did your you and your ex come to an agreement about the house?
Or did he just skadaddle away?
 
The bank won't accept just my signature on the surrender forms they want his too.

Plan was that he'd live in the house and pay mortgage but he lived there for a yr without paying and i only found out from bank ringing me a couple of yrs ago, he then put his friends/tenants in the house and left for the other side of the world. Long story but rent is not been paid, i've no access to house so just want rid of it at this stage.
I can't see any way out of it.
 
This story is confusing, you bought a house with someone else but you never lived there, and you assumed he would? Now he's disappeared but you want to give the house back to the bank, but your partner will not sign anything.

Why not just let the bank repossess? Let them go to court etc. Do you have any assets or a good job.

They are highly unlikely to ever go after him if you have assets or a job and they can go after you instead.
 
So you effectively have squatters in there now? Seems to me the priority is to evict them, and either rent it so there is some income generated, or move in yourself.
 
I did live there for couple of years but we split up and i moved out.

I work part time, i have no assests, can the bank still come after me?

So I'm best to sit back and wait till the bank decide to repossess it??
 
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