Separation and charging order on property

sarahb101

I split up with my husband in May 2017 after being together for 18 years. We have a joint mortgage. When he left I stayed in the house with our 3 children and he rents a house elsewhere. I wanted his name removed from the mortgage as quickly as possible but he then dropped the bombshell that he has a charging order on the property for just under £3000 from a credit card that was in his name from 2011. I knew nothing of this charging order. Since moving out he has racked up about 6k of credit card debt which he is in serious arrears with. He is on the verge of going bankrupt. I am worried how this will affect me as we are financially connected due to the mortgage. He obviously can't/won't pay the charging order off and has told me of I want to stay in the house then it is my problem to sort. I don't have £3000 to pay it off. I am trying to improve the house now he has gone and I am adding value. I don't want him to claim half of the equity that I have added by using my time and money to improve the property so I need his name off ASAP.

I have been told he will only be entitled to half of what it was worth when he moved out as he hasn't contributed financially since then but someone else has told me that as long as his name is on the deeds he is entitled to half of any value I have added since he left. I am really confused by it all and don't know what to do but I need it sorted quickly.

If anyone can offer any advice or point me in the right direction I would be very grateful.

Caz3121

What has your solicitor said regarding the house?
Has the lender agreed to a mortgage in your name only?

Thrugelmir

sarahb101 wrote: »

I have been told he will only be entitled to half of what it was worth when he moved out as he hasn't contributed financially since then but someone else has told me that as long as his name is on the deeds he is entitled to half of any value I have added since he left. I am really confused by it all and don't know what to do but I need it sorted quickly.

Hopefully you have already sought legal advice from a family solicitor. As you need to come to an agreement on a financial settlement. Not just for the property but all your financial assets.

The courts by default will act as guardians of your children. Putting their interests first, over and above those of their parents. Any settlement therefore will factor in right to a secure and stable home until they have left full time education.

Your husbands creditors might have to wait for their money, even if it's some years away.