Property in divorce

ALI1973

This has the potential to get very messy very quickly. If I were in your OH situation, I would be seeking expert advice/help (solicitor) with a view to selling the house (thus cutting all financial ties once and for all). Ex could then look to rent a nice property with new partner (no ex husband ghosts lurking around) and use the equity as a nice savings pot to build on toward buying g a new property when she has sorted her credit rating out.

It sounds that if he remains on the mortgage he w ill never get into a position whereby he could get another mortgage for himself, so again, clean break would solve this issue.

monty-doggy

Thank you.

I think an hour with a good solicitor is a good idea. There is no way she would agree to her new partner having the mortgage on his own, at the moment she won't even consider it joint between them.

Us on the other hand, I have a mortgage in my sole name because as it stands my oh doesn't have a great credit record due to her defaults and we don't want her to ever have a claim on my home.

It's an awful situation, and it seems that trust that she will continue to pay is our only option.

monty-doggy

ALI1973 wrote: »

This has the potential to get very messy very quickly. If I were in your OH situation, I would be seeking expert advice/help (solicitor) with a view to selling the house (thus cutting all financial ties once and for all). Ex could then look to rent a nice property with new partner (no ex husband ghosts lurking around) and use the equity as a nice savings pot to build on toward buying g a new property when she has sorted her credit rating out.

It sounds that if he remains on the mortgage he w ill never get into a position whereby he could get another mortgage for himself, so again, clean break would solve this issue.

This is exactly how I feel, but her interest only mortgage payments are only £230 a months, for a 3/4 bed town house. This is paid in full by housing benefit.

Rent would cost about £800 in this area.
Her local housing allowance wouldn't cover this.

Plus she has it in her head that she wants to own her home not rent (she doesn't seem to care she isn't paying the capital at the moment)

Mojisola

RAS wrote: »

Please get your partner to get an hour with a decent divorce lawyer with experience of financial settlements and consent orders NOW.

There have been some threads on here where an ex has turned up years after the divorce to claim money - if there isn't a financial settlement, he is leaving himself open to this happening.

monty-doggy

I think that's the best way forward. Divorce is just awful and it's not easy for any party. It really does bring out the worst in people and for the kids sake we don't want this.

bonnieindigoblue

I got a 'disassociation' from my husband with experian, Equifax and call credit on my solicitors advice because of his history of irresponsible financial behaviour. It was easy, just write to them.

bonnieindigoblue

Would it not be possible for him to legally sign over his 'interest' in the house to the children?

monty-doggy

bonnieindigoblue wrote: »

Would it not be possible for him to legally sign over his 'interest' in the house to the children?

That won't remove him from mortgage though?

bonnieindigoblue

No. Only way to do that is for her to get her own mortgage and pay off existing joint mortgage. Been there myself!

monty-doggy

That's not going to happen for a long time. I'm hoping she will sort herself out and rebuild her rating.