Hi
We bought a house together in 2005 for 189,000, house is now valued about 110,000
we also got a top up loan 40,000
Total remaining amount 140,000
I live in the house and he contributes to mortgage I pay 750 a month, he pays 500
Top up loan finishes March so repayment drops to 813 a month
He wants to buy a house with his wife, therefore get his name off our mortgage
I imagine I am in a good position financially with my salary to take the mortgage over,
As the house in negative equity what is the fairest option for us to settle this?
Also who would be in best position to give us advice, solicitor, accountant?
We bought a house together in 2005 for 189,000, house is now valued about 110,000
we also got a top up loan 40,000
Total remaining amount 140,000
I live in the house and he contributes to mortgage I pay 750 a month, he pays 500
Top up loan finishes March so repayment drops to 813 a month
He wants to buy a house with his wife, therefore get his name off our mortgage
I imagine I am in a good position financially with my salary to take the mortgage over,
As the house in negative equity what is the fairest option for us to settle this?
Also who would be in best position to give us advice, solicitor, accountant?