Hi. My ex partner split up almost two years ago. We are amicable. We both still have a joint 50 50 mortgage on a property. She lives in the property. I am renting. The mortgage is on the SVR and she is paying it. She would like to stay living in the house at the moment. The Mortgage is 150000 interest only. The house is worth about 195000 at the moment. It is in an area which Crossrail will go through, near Heathrow AIrport, and is expected to increase in value proportionately quite a bit more than other areas once this starts being built (2013). We were going to wait until then and then sell so we could both get a decent deposit each for new properties. Thing is I don't think she'll want to sell so soon and I am hard up. I would like to get some money out of the place now. I asked a high street lender about it. They said they wouldn't lend unless we both live in the property and her income was too small for them to lend just to her.
Are there lenders out there who would lend to us even though she is the only tenant?
Or lenders that would give her the 150000 plus enough to buy me off?
I would like to get maybe 25000...
Please does anyone know if I have some options here?