divorce, mortgage, aargh! help.

sarahpodge

we have joint mortgage for £106k on prop worth approx £165k we are splitting up and i want to stay in house with kids. other half agreed in principle but only if he can get his name off the mortgage(impossible as my incm will total 15,000) so he can buy another house. his incm is approx 35,000 pa. i have heard that it is possible for him to get another mortgage even though his name is still on this one? is this true? i have been told that courts are likley to allow me to stay here anyway but i think things would get unpleasant to say the least if he cant get himself another mortgage.
thanks

Gorgeous_George

I see no reason why he would want his name on your mortgage/deeds. A court cannot make him pay your mortgage.

Does he not want to stay in the hoise with the kids?

I'm sure he could get a second mortgage but maybe not for the amount that he needs. I'd recommend working at the marriage (even more than you both have already).

Maybe selling up and splitting the equity - about 30K each - would be fairest option.



GG

sarahpodge

no gorgeous g he doesnt want to stay in the house with the kids he wants a house with his new "friend" and her kids. i dont want him to pay the mortgage just find a way of getting his name off it or a way to buy his own place then we can both move on.

Gorgeous_George

I'd like the person at fault to be punished more than the one not at fault. Sadly, this doesn't happen.

I'd suggest you get what you can from your marirage but avoid giving any equity you could have to solicitors.

Hopefully he will follow the CSA's guidelines and willingly pay 15%, 20% or 25% of net income to you.

Best wishes



GG

danjberry

he can get another mortgage but the most lenders will probably take the monthly mortgage payment for the current mortgage off his income. so if your current mortgage is £5000 a year, they would work out his income as £30,000

MortgageMamma

Sarah you could get him off the mortgage and potentially be able to afford the mortgage yourself. His maintenance payments to you will be classed as income with some lenders, so will your child benefit and your working families tax credits - not all lenders do this, just some.

Speak to a broker and see if it can be done. Oh and if he wants his name off the mortgage now to go play happy families elsewhere, then make sure he takes as little possible as a second charge on the property and give him hell when it comes to maintenance. You wouldnt believe the amount of clients who come to me years after seperation saying " I wish I hadn't given him all that equity" or "I wish I'd stuck my ground about maintenance" If you are emotionally exhausted at the moment don't let that influence your decisions. If he's abandoned you and his kids to play happy families elsewhere MAKE HIM PAY.

Sharpie

Just a note to say that some lenders need to see maintenance payments having been made for 12 months and subject to a court order before they will take them into the equation...

Sarahsaver

It hasn't stopped my ex b*stard. His name is still on the mortgage and I have paid it since 2002 with no contribution from him. He was sposed to have signed the deeds over to me but hasnt. Whose name is on the DEEDS is more important that whose name is on the mortgage.