If my partner leaves, am I still liable for the whole mortgage debt?

Posted on 18 September 2012 by Anne


I have a joint mortgage with my partner on a leasehold flat. As he now wants to leave the property what are my options as we could possible owe the building Society if we tried to sell. If we did sell and there was a shortfall I would be able to pay my 50% but would I still be liable if my partner was unable to pay his share?

Anne

The mortgage you have is a joint and separate liability.  What this means is that you are both liable for the whole debt and if one of you doesn't pay then the other will have to.  So if you paid 50% of any shortfall back to the building society and your partner didn't the building society could then still pursue you through the courts for the remaining balance.  This is all the more likely if they believe that you rather than your partner has the resources to clear the total debt plus legal costs.

I have referred your enquiry to our in house solicitors, Rollingsons so that they can advise you on your legal position should your partner decide to leave.  They will be in contact with you by e mail in the near future.

Peter

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