You can refuse to sign the sale papers, and it would be very difficult for him to sell it from under you. In addition the lender may block the sale unless sufficient extra cash is available to settle the full mortgage debt (although they may take the view that something is better than nothing).
I would perhaps also suggest speaking to the lender, and any other parties and making them aware of your inability to cover any shortfall.
However conflict is not a good way of running a business (and a rented property is effectively a small business). I would strongly recommend working towards an agreed solution - why does your ex want to sell? Currently rates are extremely low, but they will rise at some point, and we don't expect significant growth in house prices for some time, so selling may crystallise a loss, but it may be a smaller loss than later.
Sit down with an independent third party (IFA or debt counsellor) and work through your situation - there are lots of different factors which would have an impact.
This site is not associated with any of the companies you see on this site or any of the companies who make contact after you complete the form
Our intermediary activities are operated through Lead Point UK Ltd who is authorised and regulated by the Financial Services Authority (FSA No: 476785). Our Consumer Credit License is 0630670
We do not provide any financial advice relating to mortgages or other credit or Insurance products. The product information is obtained from independent sources and rates may vary depending on your circumstances. We provide our service free of charge but we sometimes receive commissions from IFA's, brokers and intermediaries for introducing you to them. These partners may charge you fees for their services and the amount may depend upon your circumstances.
The content of this site is meant to be informational, and it should not be considered financial advice.
Your details will be sent to a provider who will contact you to discuss your requirements. Occasionally Simply Media Network or selected partners will email you details of products that you may be interested in, if you wish to stop receiving these emails just click the unsubscribe link or email us at email@example.com.
Give feedback -Your comments matter. You can either write to firstname.lastname@example.org or, at our Registered address: Customer Care, Simply Media Network Ltd, 48 Charlotte Street, London, W1T 2NS
This site is owned and operated by Simply Media Network Ltd. Company Registration number: 06770502