Hi Ando
Could you clarify the figures for us?
I assume that the mortgage is €280,000.
The house is worth €200,000.
The negative equity is €80,000. So you have €40,000 each in negative equity.
What has your ex agreed to?
Has the bank formally agreed to take your name off the mortgage if you pay €40,000 off it?
So they will be left with a €240,000 mortgage on a house worth €40,000 and a €40,000 personal loan.
I wonder could you arrange a separate agreement with your ex?
You will renounce any interest in the house.
You owe "her" €40,000. So you pay the repayments on €40,000.
She gets to keep the house and in time, the bank takes your name off the mortgage.
Brendan