I dont want to sell our house

grazerbynature

I have a house, joint mortgaged with my husband (seperated since 2009) Since we split up he is still constantly in financial ruin. (This was part of reason for split up, huge gambling debts)

We have mortgage of £350k, on a house valued at approx. £600k. We have jointly been paying the mortgage since we split and I also am paying for food, utilities, children, house maintenance etc since he left.

Now he's asking me to sell the family house or buy him out as he needs money and can not afford his half of the mortgage any more.

However I am not sure how much I would need to raise to do this? If the house gets sold (myself and my children do not want this option) fees, moving schools possibly etc would all be deducted from the figure we would both come out with very little to start new lives. We have a 3 bedroom house, not huge it suits us to stay here. My parents may help me raise some cash to buy him out. I was hoping it will not have to be 50/50 split with the two children to raise and home and care for. I could just manage to take on his share of mortgage as it is with my salary and child tax credits and working tax credits.

He is living with his parents. He has a job but is self employed and tells me he has little money coming in.

If anyone knows what kind of % he should be getting or I should offer him, please advise me. I have one child just turned 18 and off to University in September and one child aged 8. Also can I do this? Can I get his name removed from house deeds so he cant raise cash on a loan? This is my worry at present too, as he has also defaulted on his half mortgage payments recently.

Thanks if anyone can help advise me.

betmunch

if he hasnt got enough money to pay his half of the mortgage then why does he need to be released from it? It not like he can buy another place if hes not on the joint mortgage can he!

If he has missed his half, did you make up the shortfall? if not then you are in arrears and can forget about getting another mortgage for a while.

I would speak to a mortgage broker to find out home much you can borrow on your own, then offer to take him off the mortgage with you keeping the equity if you are able to remortgage into your own name. obviously wont be happening if you have missed recent payments

fannyanna

Does he still live in the home?

Are there plans to divorce?

grazerbynature

He wants to us to sell the house because he says he cant afford to keep paying half the mortgage? He says why should he if he no longer lives with us?

Isn't it a fathers responsibility to continue to pay towards the childrens home until they reach 18 or if they are in full time education still, 20 I was told?

BitterAndTwisted

The ownership of the property needs to be dealt with as part of your divorce settlement.

Given the circumstances my position would be that he cannot be relied on to provide continuing child-support for your youngest child and therefore you believe that the equity in the property should be solely yours.

You cannot have "his name taken off the deeds" without remortgaging in your sole name and settling the current mortgage in full.

If the property is in joint-sames he should not be able to raise a secured loan on it without your signature.

juliebunny

I would get yourself a good solicitor and protect yourself and your family - and get divorced before you sort out the house - sounds like his share of the money won't be around for long, so you need to make sure you get what is due to you - you have the kids to think of....only the courts can get his name removed from the house deeds.

grazerbynature

I filed for Divorce in 2009 and it was granted. I have the decree nisi but as he would not at that time agree to a financial settlement it was left in libo. He continued to pay half the mortgage from this point.

fannyanna

grazerbynature wrote: »

He wants to us to sell the house because he says he cant afford to keep paying half the mortgage? He says why should he if he no longer lives with us?

Isn't it a fathers responsibility to continue to pay towards the childrens home until they reach 18 or if they are in full time education still, 20 I was told?

No it's not his legal responsibility. You need to remember that whilst paying half of the mortgage he also needs to pay for his own accomodation.

His only legal responsibility is to pay child maintenance.

fannyanna

Can you afford the mortgage yourself?

grazerbynature

BitterAndTwisted wrote: »

The ownership of the property needs to be dealt with as part of your divorce settlement.

Given the circumstances my position would be that he cannot be relied on to provide continuing child-support for your youngest child and therefore you believe that the equity in the property should be solely yours.

You cannot have "his name taken off the deeds" without remortgaging in your sole name and settling the current mortgage in full.

If the property is in joint-sames he should not be able to raise a secured loan on it without your signature.

All these points are really helpful, knowing he would need a signature to raise cash on the house. I can only hope he would not forge one.

grazerbynature

fannyanna wrote: »

Can you afford the mortgage yourself?

I have had to find full time work since we split up as I did not want to survive only on benefits. It's been really tough but I think I can just manage home payments monthly but it would leave no money for holidays etc unless he paid child maintenance for the children?