Ex won't pay half the mortgage

smellyfeet

Do you know anything about a form which means if the ex does not pay half the mortgage any equity gained in the property from when the form was issued means the ex can not gain any more equity and i can also claim back the ex's of the interest on the mortgage payments (not all the ex's half of the mortgage payment)?

Also wouldn't i want the property to be valued less thus the ex would not gain as much equity; then when the property does sell i would gain more?

Who decides what the property is worth for this form?

AMILLIONDOLLARS

smellyfeet wrote:

Do you know anything about a form which means if the ex does not pay half the mortgage any equity gained in the property from when the form was issued means the ex can not gain any more equity and i can also claim back the ex's of the interest on the mortgage payments (not all the ex's half of the mortgage payment)?

Also wouldn't i want the property to be valued less thus the ex would not gain as much equity; then when the property does sell i would gain more?

Who decides what the property is worth for this form?

So, let me get this right, if your ex does not pay half the mortgage, you do not want him to benefit from any increase in value from when this 'form' is signed, furthermore, if he does pay up you want him to get less of the equity by putting in a false valuation:rolleyes:

Please correct me if I'm wrong!! But if this is right I can see why he doesn't want to pay up:D

AMD

Bossyboots

Perhaps the OP could explain exactly where she got the idea from about this form.

I can't at the moment imagine or think of a form which could so easily dispense with someone's rights in such a way.

UK007BullDog

Never heard of this.

smellyfeet

the ex is a she, if she pays half the mortagage i am happy to get a correct valuation; that would only be fair, i have been paying the mortagage for x9 months now trying to sell the property which is not selling; i don't think it will sell, got problems, that's x9 months so far that she has gained free equity, if i don't pay it affects my credit rating and i would loose the property, she won't pay as she can not afford to,

how is it fair that i have to pay the mortgage while she gains?

a friend told me about the form but did not know anymore than what i said.

Bossyboots

I think your friend may be talking about an agreement drawn up to clarify the share of equity at a future trigger point.

You could get this done between you so that you receive a higher share of the equity than she does on sale.

You have two difficulties.

Firstly, a mortgage is a joint and several liability. It would then be contradictory to say that you should receive back from the equity repayment of "her share" of the mortgage payments. This is because you are contractually liable for them whether she pays a share or not. However, in practice it is possible to incorporate such a clause into an agreement when worded correctly. It would need to be something like your ex agreeing that you will be given credit for mortgage payments made since whatever date. The exact wording would depend on your individual circumstances.

Secondly, you are obliged to use the current market value which you and your ex will need to agree at the time. Even if you put a lower value now, it could be challenged by her later on if she feels pressured to sign or or subsequently claims she was misled.

Tootsie_Roll

smellyfeet wrote:

the ex is a she, if she pays half the mortagage i am happy to get a correct valuation; that would only be fair, i have been paying the mortagage for x9 months now trying to sell the property which is not selling; i don't think it will sell, got problems, that's x9 months so far that she has gained free equity, if i don't pay it affects my credit rating and i would loose the property, she won't pay as she can not afford to,

how is it fair that i have to pay the mortgage while she gains?

a friend told me about the form but did not know anymore than what i said.

Been there, done it & got the T-shirt. Even working in debt recovery specialising in mortgages there was nothing I could do if I didn't want my credit rating ruined. Ended up with 3 jobs working all hours and months without a single day off.

Very little you can do unless you get a solicitor invloved and ex agrees (unlikely!) to take less equity once property sold. My advice; keep paying, forget about legal action as you will most likely lose thousands more just trying to prove a point and reduce house price to sell very, very quickly. Get out and move on with your life.

Good luck.

lewt

:eek: all the best with this mate. im just finishing off going through the bingo/casino sites on quidco. then i'll be moving on to the matched betting. once i learn how to do that properly i'll teach you and at least then you can make some cash to spend on you....

ossie1_2

Can you afford to buy her out whilst the property is on the market?

This would mean that you would deal with the current issue and all future equity ( possible increases in value from now ) would at least be yours.

moneywise22

smellyfeet.

I think you ask your solicitor who you are using to sell the house to draw up an agreement whereby if your ex does not pay half the mortgage until date of sale, then the money she should have paid is deducted from her share of the equity when the house is sold. This should be signed by her in front of the solicitor. If she wont agree to this then tell her you will be putting a claim through the county court for whatever she 'owes' by the time the house is sold. (This is very easy to do, i had to do it when my ex wouldnt pay half my mortgage). Seek a solicitors advice to see if the first is possible, as the mortgage is in both names i dont think there is anything you can do until after the sale, then when the solicitor receives the money he can distribute it according to your 'agreement'.