separation with negative equity

[trionam]

what happens with regards to a couple splitting up whereby the property is in neagative equity we were together 6 years and paid a deposit of 7k each he has left me alone with a mortgage im struggling to pay what happens now i can only just cover the bils so consulting a solictior has to be a last resort so any advice would be great.Do I just have to give him his deposit?

[sammy snake]

No - if the house is in negative equity then he is entitled to half the debt!

[trionam]

sammy i want to stay and pay the mortgage on my own I Had such a hard time getting it in the first place. need to know where i stand thanks.is he still entitled to his deposit back?

[Eve]

How much negative equity do you have?

Better if you check your redemption figure with your bank in case there are additional charges like early repayment.

Are you counting the �14k deposit in the negative equity or is the mortgage and any other charges over what you would get for the house alone?

Have you accrued any mortgage arrears as yet?

To get his deposit, unless you sold, he'd have to go to court to get an order for sale although the negative equity situation isn't great from the lender's point of view.

Could you speak to your lender about trying to manage the payments better or taking a payment holiday?

If there is an ex trying to get an order for sale which would not pay back what they owe then they may be more helpful to get the equity up.

[aniani]

I would suggest the CAB for free advice - good luck