Firstly this is the first time this has happened to me so apologies if I dont get all the terms right.
Story is, In May 2008 my partner left me for another person. We have a joint mortgage and still owe £154,000. We also have a joint secured loan of £32,000 from another lender. This £32,000 was borrowed, in April 2007, to consolidate £8000 of my debts and also £8000 of her debts, leaving us £16000 to refurbish our property. Since she left in May 2008 she has refused to pay either of the mortgage or loan. This is now proving to be financially difficult with me. I have had the house up for sale since December 2007 but had no worthwhile offers eventhough the estae agents believe it to be up for a more than fair price and have not recommended me to reduce it further.
My problem is that I dont really understand my rights and how I get rid of her from the mortgage and somehow change the loan so tht she is liable to pay at least the £8000 she recieved to consolidate her loans.
I have spoken to my Mortgage lender and informed them of the situation but they seen pretty unsympathetic and just told me that my home would be at risk if i didnt make payments. I have asked to transfer equity but told that I just dont qualify by approx £2000.
I have spoken with my Secured loan lender and said that I wll pay half and they can chase her for the other half but clearly a no go. I asked how to split the loan as we were no longer in a partnership but they have said it is on the house and this could not be done ad we are both liable. Problem is I am paying and this is clearly not fair.
Please please can anyone advise me out there what options i have, I am struggling to keep my sanity let alone my head above water!