About 7 years ago I jointly purchased a property with a so called friend as an investment but after 2 years he lost his job and couldn't pay his half of the mortgage. Since then the ****s gone awol I have made the payments for the last 5 years. Can't sell the gaff as it's in negative equity so I'm ****ed. I have considered stopping the payments but will still be left with a debt after re-possession plus will get black listed so any **** know if I can get a court judgement to sign the deeds and loan over to my sole name? Thank you in advance
Ask about a net book and every **** thinks they know it all. Ask a legal question and you're all stumped. Thick ****s
If you bought it as an investment, I assume that you're renting it out rather than living there yourself. If that's the case, why haven't you set the rent at a level that covers the mortgage repayments?
Rent is only £550 per month, that's the going rate but the mortgage is £960 per month plus I have insurances on top.
Burn the hoose doon. Job done. Better still, find your ex-mate and burn it doon with him in it. As an alibi, I'll say I was shagging you at the time of the arson. Arsing and arson, a double whammy.
If you're looking Legal Advice, head on over to the Celtic board, they've got accountants, lawyers, financial advisors etc
Why the **** did you buy an investment property that didn't wipe its own face. Investors I deal with work off a 6% yield on the money.. Can you let it to students instead? Room by room ? Will double your income on the place.. As to removing your mate, you can do it but need his consent as he will need to sign a TR1. Also re the mortgage you'd have to get him off that which will mean you will get assessed like a new mortgage .
...aye, and they're really on the ball with this kind of stuff. They know literally everything. FACT.
Maybe this chap can give you some advice about maximising the return on your investment. please log in to view this image
It seemed like a good idea at the time, how the **** was I to know the market was going tits up The lender has already agreed to change the mortgage into my sole name, I just need top sort the deeds.
