Mortgage after separation

spidermev

Hi All,
I know you guys have read this stuff a thousand times before as have I but I've never found anyone in quite the same situation...so here goes:

Had a kid, bought a house, joint 125% with Northern Rock (seemed a good idea at the time), couldn't stand living with baby's mother (please don't judge me, I have good reasons but that's another story), after 1.5 years of a 5 year fixed rate mortgage I moved out, still paying now and it's been 2 years, we agreed that for my son's sake I pay the mortgage and insurances (c£850pm) until the fixed term is up and then we sell. I have about 1.5 years left and I don't think I will have much luck with her upholding her end and agreeing a sale. Is there anything I can do about this?

Current market being as it is chances of negative equity are high and she has already said she will not allow me to become sole owner, taking on all negative equity, but she cannot afford the house herself and she says she is prepared to take on her share of the debt out of spite even with a very low income and my son to look after.

I have managed to get myself a little nest egg together since I moved out and I'm worried about whether she can get any of this.

She also says that when I eventually stop paying the mortgage and start paying maintenance she will contact the CSA to get my payments backdated to when I moved out even though I was paying for the home they live in.

I'm really not sure what to do about all this so any advice on any of this would be greatly appreciated!

Thanks in advance

gizmo111

Not sure as you have a child but this site is a wealth of knowledge on relationship and financial stuff to do with break ups

www.ondivorce.co.uk

poppy10_2

spidermev wrote: »

I have managed to get myself a little nest egg together since I moved out and I'm worried about whether she can get any of this.

It's not a matter of her getting her hands on it - it's the bank that will chase you. You are still on the mortgage, and are equally as liable for the payments as your ex, even though you are not living at the property. Since your ex has no realistic chance of coming up with the money, you will be the one that is hounded by NR for payments, especially if you have a lump sum saved away.

You need to contact a family law solicitor ASAP.

silvercar

Current market being as it is chances of negative equity are high and she has already said she will not allow me to become sole owner, taking on all negative equity, but she cannot afford the house herself and she says she is prepared to take on her share of the debt out of spite even with a very low income and my son to look after.

I doubt a lender will allow either of you to remove their name without reducing the negative equity.

Selling the property will involve clearing the negative equity. If you are the only one with savings then that would be the only way of the sale proceeding.

She also says that when I eventually stop paying the mortgage and start paying maintenance she will contact the CSA to get my payments backdated to when I moved out even though I was paying for the home they live in.

I don't know how possible this is, given you will be able to prove you have paid the mortgage. Sort this out now. Easiest idea is to open a joint account and pay the mortgage money into it, then pay the mortgage from the joint account.

gizmo111

now. Easiest idea is to open a joint account and pay the mortgage money into it, then pay the mortgage from the joint account

Noooooooo - you will be more financially entwined and could end up being liable for an overdraft on the account, as well as being financially associated with her after all the house etc is sorted.

silvercar

OK, but I can't see another way of paying the mortgage in lieu of maintenance. Of course if you could trust her to pay the mortgage you may as well pay the money to her as maintenance and let her pay the mortgage.

joolley

See a solicitor. Now.

dimbo61

Under CSA you are liable to pay 15% of your net take home pay for your child
Your EX is on low income ?
Child benefit
working tax credit
child tax credit
part time work ? over16 hours a week ?
Housing benefit
council tax benefit ?
Income support,
If you get a letter from the CSA ( and they will only take it from the day she contacts them IT WILL NOT BE BACKDATED)
Then explain you are paying the mortgage and insurance to the CSA.
You should be paying 50/50 for the mortgage and she is living in the property with your child

spidermev

WOW, This is fantastic info, thanks tonnes everyone!
According to CSA and CMO, the fact that I pay the mortgage and insurances etc is classed as a private arrangement so dimbo61 you are bang on the money when you said it won't be backdated, thanks for that! Mind at rest for that point now :beer:

Ok, so is there anyway that I can force a sale of the house? Keeping in mind that I haven't lived there for 2+ years? Or anyway I can take over her half? The latter sounds harsh but she is digging herself quite a deep financial grave which is only going to get worse when we sell and my main priority is my son's well being, and like I mentioned she doesn't care how much debt she takes on, purely out of spite.
Her + Debt = My son possibly going without :mad:

Radiantsoul

I court order could force a sale of the property, but how will you handle the shortfall? You do need a solicitor, but it seems you are going to be lumbered with a lot of debt one way or another.

spidermev

Which is why I would rather take over her half if possible, I can afford the payments easily as I have for the last couple of years, and that way neither of us have a shortfall to cover.