Property in divorce

Person_one

monty-doggy wrote: »

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.

You can't get HB for house you own, do you mortgage interest support? If so that's only temporary.

monty-doggy

Person_one wrote: »

You can't get HB for house you own, do you mortgage interest support? If so that's only temporary.

Yes that's what I mean, I didn't know what it was called.

How temporary is it if she has a new baby and 3 other children at home?

Mojisola

monty-doggy wrote: »

Yes that's what I mean, I didn't know what it was called.

How temporary is it if she has a new baby and 3 other children at home?

It depends on what benefits she's getting -
https://www.gov.uk/support-for-mortgage-interest/what-youll-get

monty-doggy

She's getting income support so no time limit

Mojisola

monty-doggy wrote: »

She's getting income support so no time limit

Doesn't her new partner work?

monty-doggy

Part time minimum wage. She hasn't been declaring he was living there anyway but a week before Xmas they sent off to say he is living there, as the baby is theirs.

monty-doggy

What makes me mad is her own income from benefits etc is £1900 a month. My oh gets no way near that, it's shocking.
She has wasted so much money in the past on drinking and holidays without the kids, although to get fair it looks like she is settling down now.

On her income she can afford the mortgage but her rating is ruined.

mumofjusttwo

Will she only get income support until her youngest child is of school age or is there another reason for having IS?

When does the morgage term end. If it ends before the child reaches 18 (as per divorce agreeement). Would she be able to keep up payment as if she does not pay then they can chase your partner.

I would certainly check the mortgage account regularly to ensure that payments are being made aware. Also s it possible to ask the mortgage lender to send letters to your partners address to ensure he is aware of any changes ( if this has not been already done)


Difficult situation to be in. My ex is also in this situation but trusts that I am paying the mortgage.

monty-doggy

mumofjusttwo wrote: »

Will she only get income support until her youngest child is of school age or is there another reason for having IS?

I'm not sure, I think it's to top up her low earnings as she is a one day a week hairdresser in a salon. Her youngest is only a week old so either way a long way off stopping yet.

When does the morgage term end. If it ends before the child reaches 18 (as per divorce agreeement). Would she be able to keep up payment as if she does not pay then they can chase your partner.
she is paying interest only and can afford that. There is no repayment vehicle and she has said in 17 years she would remortgage as she will be young enough (48) and get it on repayment. This is obviously all talk as no one knows what will happen in the future.

It has another 17 years so youngest would be 17.

I would certainly check the mortgage account regularly to ensure that payments are being made aware. Also s it possible to ask the mortgage lender to send letters to your partners address to ensure he is aware of any changes ( if this has not been already done)

This has been done and for the past 2 years since he threatened to Force a sale over 9 missed payments, even though he gave her extra cash for mortgage. She hasn't missed a payment and he gets regular statements.

Difficult situation to be in. My ex is also in this situation but trusts that I am paying the mortgage.

It looks like only way forward is trust.

RAS

Hi

What you have both got to understand is that right now, you need an agreement with the ex as to what happens when the youngest is 18 or leaves school.

Leaving it to trust is very risky; there is nothing to say that she will not just walk out and leave it to be repossessed for example.

A consent order would state that either she buys him out (via a remortgage) or they sell up when the youngest leaves school. It would state his right to insist on a sale if she stops paying the mortgage.

But it can only do this IF he gets a financial settlement agreed by the courts.

Right now if he dies, she gets the house as the sole provider. If she marries bloke number 2 (or 3 or 4) then regardless of whether the house is in her name or joint names with the new spouse, they have a claim on the property when she dies. So OH's kid's get nothing.

And have either of you thought about his will etc? Has he considered life insurance (cheap term ones will be fine) which might pay out to you? And to the kids perhaps with you are trustee?

Does he have life insurance to cover the mortgage? Or to cover her death, considering that he might end up caring for the children and have an interest-only mortgage with no repayment vehicle?