Complicated property issue after divorce!

millymollie

Hi there,

My brother and his ex wife split up in 2004 and he was left with the children (now both over 18). They subsequently divorced, but the financial side of things wasnt covered in the divorce.
My brother kept the house on and paid the mortgage alone since they split up. His ex wife paid some maintenance for the children but she had to be chased constantly by the CSA.

He has now remarried and has a child with his new wife.

He has just phoned me today to say that his ex wife is asking for £30000 as her share of the house, (via a solicitor), and to remove her name from the mortgage.

Looking for advice to reassure brother until he can get to a solicitor.

-There is no way that he can pay what she is asking.
- His credit rating is awful so won't be able to remortgage.
-Him and his ex wife only lived in the house for approx 5 years before they split.

What would be the best course of action- any advice gratefully received...

Thank you!!!

19lottie82

I fairness, if his ex helped to pay the mortgage for 5 years, then I'm not surprised she is asking for something.

£30k does seem excessive tho.

Now the children are over 18, she may be within her rights to take him to court and force a sale.

He is best to get a solicitor and enter negotiations for a more realistic figure, if he thinks what she is asking for is too high. Chances are she is going for far more than she realistically expects.

Could he re mortgage to "buy her out"?

No real help now, but this is a classic example about why all finances should be finalised when a divorce is filed.

millymollie

Hi
Thanks for replying. When they split up she received a reduncancy payout of approx £22k - would my brother have been entitled to half as they were still married at the time - btw he didn't get anything.
I can appreciate that she wants something out of the house, bro worked out she probably paid about 10k towards the mortgage while they both lived there.
I have no idea where she has got the 30k figure from...

millymollie

Also no way he could remortgage...

19lottie82

Well, how much has the house increased in value since the time when she paid the mortgage? And as I said she is prob aiming higher than what she will accept.

Tell your brother to get to a lawyer pronto.

Most of the "advice" you get on here (inc mine) is just speculation.

Many lawyers will offer an initial free half hour.

19lottie82

millymollie wrote: »

Also no way he could remortgage...

Not even for a small ish amount to buy out his ex?

If he can't raise the funds he may be forced to sell the house.

RAS

millymollie wrote: »

Hi
Thanks for replying. When they split up she received a reduncancy payout of approx £22k - would my brother have been entitled to half as they were still married at the time - btw he didn't get anything.

These were both assets of the marriage and this is why he should have sought a financial settlement at the time.

He needs a lawyer and some idea of

1. The value of the house at the time they split
2. Some idea of the equity in the house when they split.

She can try for half the current value but he might get lucky.

millymollie

Hi
Think the house was probably worth about £120k when they split so probably about 30k equity.

The house is prob worth about 150k at the most and the outstanding mortgage is 100k roughly

millymollie

My brother could afford to pay her at the very most 12k.

19lottie82

Obviously I don't know the area but the increase from 90-150k from 1999 - now seems quite low?

Anyway, as advised your brother must see a lawyer asap.

And if he cannot raise funds he may have to sell.

millymollie

Thanks.. I'm just guessing about the value of the house waiting to hear from brother about the solicitor.
Would it go to court if she refuses to accept less than what she wants??
And would it be up to judge to decide how much she is entitled to?