Me and my partner and currently deciding to split up. Here's the facts:

We are Scottish and live in Scotland (Scot Law)
Been together 10 years
Lived together 9 years
Not married
Bought our property together 18 months ago
Both on the mortgage
We are on a fixed rate until May which we hope the mortgage will come down considerably due to market conditions, high rates when we bought
The house is almost definitely in negative equity (I think about £30-40K)
The house was bought at £176K
Mortgage was 95%, interest only
My earnings are £24K per year

Can someone please tell me (hopefully professionally) where I stand and what's my best move. He has no reason to stay here and I have to stay in the area, I would really like to not have to leave my house as I fear I won't get back on the property ladder without a second person. Plus the rental prices, etc I think would be just as much as staying here.

Can someone also tell me how the mortgage etc works, what my options are?
Maybe how much my mortgage will be come May?

Thanks

You are on an international site and reaching most the US and Canada. Scotish mortgage rules are entirely differnent, and common law rules are different too. Best adivse to hire a solicitor and ask him these questions, who will know best of Scottish law.

Tick

Most likely you will need to buy your partner out refinancing the property.

Further information... the house was valued at £165K 18 months ago, so the mortgage is 95% of that.

Further information......the house was valued at £165K 18 months ago, so the mortgage is 95% of that.

I don't mind your comments regarding my take on your situation. It is just you are in Scotland, we are mostly in the US and Canada. There can't be very much we can tell you about what to do because Scottish law and UK is so much different.

I am sorry you were offended. I certainly didn't mean that to be. So you say 'there must be other scottish people out there who can answer'. I don't think there are any in our forum, nobabes, but even then, I am sure they would say, hire a solicitor.

If there were any more positive answers regarding your circumstances from our experts, it would have been posted by now.

We are all volunteers here, give our comments as we see fits the situation.

ms. tickle

Comments on this post nobabes (https://www.askmehelpdesk.com/members/nobabes.html) disagrees: yes thank you, I do realise that, hence why I have given these details. But I'm pretty sure there are other Scottish people out there willing to answer my question. If you don't think you can help, pass by my question please.


First, may I call your attention to the guidelines for using the comments feature found here:

https://www.askmehelpdesk.com/feedback/using-comments-feature-24951.html

Second, please do not presume to dictate who can and cannot respond to questions. Once you post anyone can answer as long as the answer is within our rules. You can ignore the response if you wish, but not dictate who can answer.

Thank you tickle

Bit I still would like to believe that there are other scottish or english (with scottish knowledge) on this site. This is the www, not world wide usa and canada.

I do realise that you live in a very large country and you seem to think Scottish people are a rare breed, but hopefully someone may offer some help.

Also, thank you for your suggestion of a solicitor but if I could afford one I surely would be asking their advise and not that of the www.

I do realise that you live in a very large country and you seem to think Scottish people are a rare breed, but hopefully someone may offer some help.

.

Ha, nobabes, I am Scottish as well ;). And, yes we are a rare breed, but we come by it honesty ! Hang in there, someone will come along from your part of the world and chime in, but please don't wait too long before you contact a silicitor so you can get your due.

Tick

Ha, nobabes, I am Scottish as well ;). And, yes we are a rare breed, but we come by it honesty ! Hang in there, someone will come along from your part of the world and chime in, but please dont wait too long before you contact a silicitor so you can get your due.

tick

Nice to know we have made it over to new continents!
Thanks, going to try citizens advice next week