Unmarried couple split / Joint mortgage

A

AppleSun

Registered User
Messages
164
Hi All.

Looking for a bit of advice. My partner has left me and young child this week. The house was bought in 2006/2007, is in negative equity to the tune of about 230k. I can certainly no longer afford it. We had recently been in to the bank regarding arrears situation and they requested supplementary information from him as he is self employed. he has not been forthcoming with this information.

1) Who provided the deposit and in what proportions?
I provided the deposit of €50k for mortgage of €390
2) Who is making the monthly repayments at the moment?
I have been making the payments solely for the last 18 months to 2 years. We are in arrears as my wages have not been sufficient to cover the mortgage and all other bills
3) Are there any arrears?
Approx 15k
4) Who is the lender?
TSB

Where do I go from here? To be honest I'm not tied to the house. I just want somewhere to live with my child.
 
AppleSun said:
Where do I go from here? To be honest I'm not tied to the house. I just want somewhere to live with my child.
Click to expand...

If you cannot afford the mortgage then you should demonstrate this to the bank and agree to the property being sold, with, hopefully, the NE being written off.
 
PTSB seem to be suggesting split mortgages a lot at the moment.

Wait and see what they suggest.
 
Hi Applesun,

The first thing to do is talk with your lender & allow them to assess your current financial position.

See what they suggest and they consider getting further financial advice before re-engaging back with the bank.

Ensure all your options are checked, as with the previous comment, is the option to rent the property there?, will the rental income cover all the mortgage repayments or most of it?, so at least you could have this paid for over the medium to long term.
 
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