Mortgage advice with bad credit or possible Remortgage at 65

MotherDear65

Youngest is 18

kingstreet

If they weren't married, you might like to read up on Kernott v Jones which is a useful Supreme Court ruling on the issue of property post-separation.

MotherDear65

Thanks.. Will Google now.

Edit.... Interesting read thanks kingstreet. Nice to hear a bit of common sense with the law and a ray of hope that if it ever went to court there is a precedence set which might leave him with very little percentage of the property.

Does anyone have any good experiences with any Merseyside brokers and can recommend one?

Thrugelmir

MotherDear65 wrote: »

Youngest is 18

Left full time education?

MotherDear65

Thrugelmir wrote: »

Left full time education?

No still in full time education

My grandchildren are 6 and 8 who live in the property as well

Harry_Boyle

Worse case scenario, you could all lose your homes. Perhaps the best way to help is to pay off your own mortgage and your home could be a safe haven if your son loses his house. After raising your children you're entilted to a bit of security in your old age. If your son has made some bad choices in life, you can't hold yourself responsible. What is he a 40odd year old man? Maybe it's time to cut the apron strings?Often the best way to help someone is to allow them to work through their own problems.

Thrugelmir

MotherDear65 wrote: »

No still in full time education

My grandchildren are 6 and 8 who live in the property as well

The ex has no responsibility for the grandchildren.

Once the youngest child has left full time education. Then within his rights to seek share of equity. Even if based on a value some 20 years ago.

MotherDear65

Thrugelmir wrote: »

The ex has no responsibility for the grandchildren.

Once the youngest child has left full time education. Then within his rights to seek share of equity. Even if based on a value some 20 years ago.

I think they have received legal advice in the past that as their mother owns half of the property and has kids less than 18 that he can not force a sale. As that was a worry they had that when his youngest turned 18 he would try to force a sale. Seems a grey area.

ody1977

Dave_Ham wrote: »

Herein lies your problem number 2

The Solicitor deals with this, although they will require authority from your Sons, partners ex.

He will be told to get independent advice, which may lead them to telling him he in entitled to 50% of the equity so be very careful.

Hello, it's MotherDear65's son here. My mum has passed me the info on the thread to take over and before I start my own thread I will update with latest info.

We have been in touch with some whole market and independent brokers today and a few have said there is nothing they can do as soon as they hear about mine and partner's defaults. One broker said they would be able to get us a deal but could not because of what was mentioned as "problem no 2" by Dave Ham above.

As the mortgage is in my partner's and her ex's name. They could not do any sort of remortgage involving me and my partner as I am not on the original mortgage.

This was what I thought, but a couple of posters on here seemed to imply otherwise. Is there a way around this or is the broker we spoke to today correct on the matter?

Thanks.. will probably start my own thread so not to confuse things any further. It's messy enough as it is :eek: Any advice before I start a new one?

Cheers

Dave_Ham

You can remortgage with just you and your partner, just her Ex will need to sign to get this through the legal stages.

At which point, he will require independent advice and this will give him advice for his protection and legal awareness.

At some point in time it will end here anyway, as if you do nothing and overpay and pay off the mortgage - her ex will still be on the deeds...