I rent out room(350pm) and pay remaining which works out at approx. 360 pm
hi Truthseeker
Thanks for reply... guess reason why i agreed to current situation , was i broke up with her, felt very bad about whole thing and just sort of agreed to anything as i hurt a few people (her./her family etc)
Now .fast forward, we are where we are and i can not keep paying what im paying.
If we rent it out i would get say 900-1k but then i run risk of losing TRS and getting put on BTL rate.
My aim is to get the cost of this house down.... if i can not what happen if i walk away? ...
I really don't see any way out of this keeping your credit rating intact. Also I suspect your ex may only negotiate with you if you make life uncomfortable, either by threatening to move back in, or by stopping your top up payments.
It's difficult, as you are jointly and severally liable, so she can threaten to stop paying and walk / fly away too leaving you with a 330k debt.
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