Urgent advice needed x

Mummyof3boys1girlx

Partner left me 2 years ago for a younger woman while I was pregnant with our 4th child. He left our home in a unfinished state... Boiler had been condemned by British gas I had sockets and switches hanging off the walls and live wires hanging. My parents have since installed new boiler and had all electrics made safe. Other than child maintenance he pays nothing for house.

He now wants me to sell house and give him the 50% equity he feels he deserves. ( loser)

I paid 21k deposit althought he paid Morgage while he lived here for 6 years.
House bought for 135k and has been valued at 225k

We are tennants in common but if I sell my home would he get 50%??

Sorry if I'm waffling xx

Stevie_Palimo

If you can seek legal advice from a Solicitor as they will guide you correctly here, Failing that if you cannot afford one try Cab.

BigAunty

You need expert legal advice. Go and see a solicitor now.

See also the Shelter website as they offer expert housing advice and have a relationship breakdown section detailing your rights and options.

Look into the viability of an occupation order. This is where you could get the court ordered right to live in the family home until your youngest turns 18. The potential outcome is that you get stability to bring up the children but you may possibly be required to pay the mortgage and to split the equity with him when sold in the future. Can you afford the mortgage?

Is he paying you 25% of his gross wages in child support? If not, go speak to members of the child support forum.

Mummyof3boys1girlx

I could not afford to Remorgage myself. Just wondered if anyone had been in a similar situation. He does pay his child support. I cannot afford solicitors but will try cab x

BigAunty

Mummyof3boys1girlx wrote: »

I could not afford to Remorgage myself. Just wondered if anyone had been in a similar situation. He does pay his child support. I cannot afford solicitors but will try cab x

To be clear here, I wasn't suggesting that you remortgage the property to buy out his share, I was asking you if you could pay the current mortgage sum as it stands.

My understanding of how occupation orders work is that the parent in the property may be expected to service the existing mortgage rather than pay out equity towards their ex and take it over in their sole name.

Does anyone on this forum know how occupation orders generally operate?

Mummyof3boys1girlx

I wanted to offer him a sum of money for him to sign house to me. But unsure of amount to offer him. It seems unfair that if I sell he can take half when he chose to leave. I appreciate that only a solicitor can tell me but does anyone know if equity would be split between children as well?

Homeownertobe

We're you married?

ERICS_MUM

you really need professional advice, you are dealing with the highest investment you will ever makeh

My own brother was in a similar situation and he thought he had things made watertight to protect his legitimate interest in the property but he still difficulties.

Above all don't let your ex pressure or bully you into kaing a quick decision. You need legal advice and then some thinking time


Best of luck

( apols for typos, big fingers on small phone and

BigAunty

Mummyof3boys1girlx wrote: »

I wanted to offer him a sum of money for him to sign house to me. But unsure of amount to offer him. It seems unfair that if I sell he can take half when he chose to leave. I appreciate that only a solicitor can tell me but does anyone know if equity would be split between children as well?

Big alarm bells ringing here! He cannot sign over the house to you (at the mortgage level anyway, not sure about the ownership deeds though). Your house is essentially owned by the mortgage company in reality, not either of you, until it is fully paid off.

Only a lender can consent to making you the sole owner (assuming he consents to this) and to do that, you've got to demonstrate that you earn sufficient money to cover the proposed equity release and the new mortgage. They will do this by looking at your income and seeing how much loan you require (income to loan ratio) to see if you can afford it.

Go find an affordability calculator or speak to a mortgage broker about whether you are likely to find a mortgage lender to accept you. What is your employment income?

BigAunty

Mummyof3boys1girlx wrote: »

I appreciate that only a solicitor can tell me but does anyone know if equity would be split between children as well?

Your children aren't the owners of the property, why should they be entitled to the equity?

At the end of the day, if you are a joint owner, the property can only be sold if you consent to it or if your ex takes you to court and gets a court order that forces you to sell it and I understand this process is long-winded and expensive.

So take your time to find out your rights and negotiate a settlement.

As a joint owner, he has the right to take up occupation in the property anytime he likes (unless you have an occupation order).

Homeownertobe

BigAunty wrote: »

You need expert legal advice. Go and see a solicitor now.

See also the Shelter website as they offer expert housing advice and have a relationship breakdown section detailing your rights and options.

Look into the viability of an occupation order. This is where you could get the court ordered right to live in the family home until your youngest turns 18. The potential outcome is that you get stability to bring up the children but you may possibly be required to pay the mortgage and to split the equity with him when sold in the future. Can you afford the mortgage?

Is he paying you 25% of his gross wages in child support? If not, go speak to members of the child support forum.

Are you sure about this? If it's on the gross system then it's 19% or 15% depending on income.