Endowment to repayment

Confused_mum_3

Hi I was looking for some help please. I bought an house in 1994 with my partner , I already had an endowment in my sole name and we took two further joint endowments. These were supposed to be all assigned to the mortgage. In 2005 my ex left me and our children, I have paid all the bills and mortgage etc, he paid for the two endowments until 2009 when I was really Ill he stopped and by the time I knew 13 months had passed so could not catch them up. I spoke to my BS in June and they said I should be on a repayment mortgage, nothing received, so called again today. They said they will write to us both today but need his signature. My problem is that he is not nice, does not pay anything, (csa useless). And my sole endowment is due to mature in August and if he does not sign then that will go to the mortgage, but the two joint ones will not as they forgot to assign them and they will remain frozen. I do not want my endowment to go to the mortgage as according to the barrister as my mortgage will be taken by the courts as endowment under the equitable accounting rules the courts will issue him 50/50 of the proceeds of the house when the children reach maturity. When I have paid everything. Could anyone give advice please.

Wh05apk

If the endowment is assigned against the mortgage, then I would assume the insurer will send the proceeds to the lender?

May be worth speaking to insurer, as if in your sole name, they may just accept your signature to "un-assign"

Otherwise, you need to be guided by your solictor as it sounds like your whole situation needs unravelling.

Confused_mum_3

Thanks, yes I have called the insurer today and they cannot do anything unless the BS write to them to unassign. Mortgage company won't do this. Solicitor is guided by barrister who says as the law is "it's 50/50". And to go to court it will cost around £30k. Seems very wrong to me but as I did not marry the ex the law is complicated. Thanks anyway. It's like banging your head against a brick wall.