Going through a divorce - advice needed

Monkey_Joe

Background:

I am going through a divorce with my wife. We have a shared ownership property: 25% share in property valued at £190k.

When we bought our share we took a mortgage of around £40,500 and paid a deposit of around £7k.

We have around £36k left to pay in the mortage.

Therefore the equity is around £11,500. The ex wife will seek at least 50% of this.

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So, just found out from my mortgage lender that my ex wife contacted them and asked them to change the correspondence address to her new home. I currently still live at the mortagaged property.

They refused to tell me why and what changes my wife made in regards to the address.

My questions:

(1) Can she remortgage and take money out without my approval? We are both named on the mortgage. So is it possible to remortgage or take money out without the other party knowing?

(2) Can she take loans out against the property.

hcb42

you would have to both sign for extra borrowing or a new loan.


Can you not get the bank to note the original address so you know what is going on


Can you access your mortgage account online?

Monkey_Joe

hcb42 wrote: »

you would have to both sign for extra borrowing or a new loan.


Can you not get the bank to note the original address so you know what is going on


Can you access your mortgage account online?

Hi I can. Im just confused by the change of address.

Im assuming that she just wants to be sent any correspondence to her new address. Since it will be sent to me.

Just as long as she can't do anything with the mortagage without my approval.

ViolaLass

I imagine she wants to make sure that you don't do anything to the mortgage without her knowing either. Get the bank to send everything to BOTH addresses.

amnblog

I suspect you will be receiving one copy of any correspondence and she another.


This is a worry that has no grounding, she cannot do anything with the property or the mortgage without your OK.