Seperated from husband and mortgage

girlsmum

Hi

I seperated from my husband at the end of July, he is not paying towards the mortgage, which i know he should, but he wont be able to pay maintenance and rent etc if he did, the split is amicable and i am fine with it,

I have not told the lender yet, what will they need to know? I am on a good wage and the mortage is low, so paying it alone is not an issue.

any advice would be appreciated

thanks

tipsymcstagger

It depends if you want his name off the mortgage. If so it's a case of reapplying as single applicant and your husband signing a transfer of equity to release his claim to your home.

girlsmum

that could be an issue as there is a lot of equity in the house. as nice as it would be. there is no way i could afford to buy him out


he does not want me to sell, i have asked him.
not sure of what my options are though

tipsymcstagger

Well I believe that until your children are 18 he is legally obliged to keep a roof over their heads which he probably wants to anyway as it amicable. After that he can ask for half of the equity.

Thrugelmir

Consult a solicitor. Resolution of the issue needs to be done in a formal manner to avoid problems in the future.

girlsmum

tipsymcstagger wrote: »

Well I believe that until your children are 18 he is legally obliged to keep a roof over their heads which he probably wants to anyway as it amicable. After that he can ask for half of the equity.

surely though if he is not paying towards the mortgage it can only be proportional?
i guess i will need to get something legal drawn up

Thrugelmir

girlsmum wrote: »

surely though if he is not paying towards the mortgage it can only be proportional?

The amount of maintenance that your ex is liable is for will be in accordance with a formula as laid down by the CSA.

Whether this is will be sufficient for you to remain in your current home is a separate issue.

Division of financial assets likewise will need to addressed.

girlsmum

i earn enough to pay the mortgage without his input, looking at the lenders site, i can actually borrow higher amount than i have, so that is not an issue, he is paying slightly more than he needs to at the moment according to the CSA site, and any debts we have we have split almost in half, its really just the mortgage that is my only concern at the moment.


thanks for you comments though

zzzLazyDaisy

girlsmum wrote: »

surely though if he is not paying towards the mortgage it can only be proportional?

No, you are mistaken. As long as the house remains in joint names, he is entitled to half the net proceeds of sale when the house is sold.

i guess i will need to get something legal drawn up

You need to take legal advice on this anyway. For example, if you divorce you may be entitled to more than half the value of the house as you have the responsibility for housing your child. So it maybe that you can increase the mortgage on your own wage, and buy him out.

Note the above comments presume you live in england/wales. The law in Scotland is different.

Go and see a solicitor, there are various permutations and no-one on here can advise as we don't have all the facts