Can ex-wife re-mortgage with additional borrowing while my names still on mortgage?

getmore4less

edmond wrote: »

That's correct I could be in a position of having 40% of nothing.
We are on good terms but things change.
When I moved out we had roughly 100k equity in the house with a mortgage of around 80k.
I did try to get my 40% at the time of the split, however if that had of happened then she would have been forced to move out and downsize. As we have two children I did not want to put them through that.

I think it needs to be clear what you own.

40% of free equity is the problem as that can be manipulated

If she can extend the mortgage why can't you get some of that at lea?
I think you need to sort out the agreement and get any extended borrowing into it so you get the equitable share of it.

if it was 40% of the free equity £100k at the time on a value of £180k that would be 40/180 so around 22% of the value.

a much better way to do it, BUT it does leave an issue on maintenance and improvement as technically if you own 22% you should pay that, but that won't work.

This is one area that we see solicitors just getting it wrong, the number of joint purchase trusts deeds that are complete nonsense is horendous