Advice on joint property ownership - UK advice please...?

I would really appreciate some advice on property ownership from anybody with knowledge of UK law….. USA contributors are wonderfully helpful %26amp; lovely, but I need UK advice…





I bought a house with a former friend in October 2006 %26amp; we both agreed it was for 2-5 years.





It’s now 2year 1 month on %26amp; I want to go live with my partner. We cannot afford to sell the house realistically as it’s now worth £15K less than we paid for it so I wanted to rent it out in it’s entirety (it’s 3 double beds, 2 bathrooms %26amp; downstairs toilet, only 4 years old %26amp; in quite good condition). I suggested that we should both move out %26amp; rent the place out until property prices come up again as the rent would easily cover the mortgage (I’ve done the sums) but she is refusing to leave the property offering the following “compromises”:





She has said I can move out %26amp; still pay the full mortgage (why would I want to??)





or





Sign the house over to her losing my £10K deposit (as above - why would I want to?)





I don’t feel those are fair compromises %26amp; think she is being deliberately difficult so I’m thinking suggesting that I rent out the two double rooms I occupy to a couple or single person (she has the entire top floor). Obviously I’d get all this checked through a solicitor with signed agreements etc….and would ensure it was up at the end of the 5 years or this could continue indefinitely..... this is so I can cover the mortgage %26amp; buy a place with my partner.





PLEASE don’t advise that I should have had a proper written agreement 2 years ago, I do know this now, but unless you have a time machine you can lend me this isn’t a practical option…..





Can anybody who has some knowledge of UK law please advise….. despite all this I’d really rather sort this out amicably if possible without resorting to threats (eg. stopping paying the mortgage - for which we are jointly %26amp; separately liable, I wouldn’t do this anyway) as I still think it is possible for us both to salvage something from the situation without “compromises” that benefit only me or her.


Advice on joint property ownership - UK advice please...?
Hi Lilith.





This is a difficult one, given the state of the current property market here. You are right in thinking that you have joint and several liability in relation to the property and the mortgage, so stopping payments is not an option as it may lead to a possession action and a sale at auction with a price less than you would get selling on the open market.





The other thing to remember about joint ownership is that both of you jointly own the lot. You do not have separate bits that you can each deal with independently. You both have to deal with the whole or nothing - so no renting a bit off unless you both agree.





The compromises are, as you say, all one way. I would not want to agree to them either. Had the market been different (and a sale not leave you in debt), then I would have simply applied to court for an order that the property is sold, as one joint owner (you) no longer wishes to be one. This may still be possible if the market picks up.





Until such time as it does, or you both agree a way forward that you can both accept (however unpalatable) you are, I'm afraid, stuck.





Barring the time machine (sorry, mine is in for servicing at the moment), the only practical suggestion that I have is for the two of you to consider a binding mediation. It will cost a bit, but mediators are trained to look for a win-win outcome.