Getting husband off mortgage

foxy-stoat

You are both jointly and severally liable for 100% of the debt - its only fair that the equity is split 50/50 - even more so as its interest only as you are practically renting as well and not paying the capital...would be slightly different if you were paying off the capital as well after the split.

What was the repayment strategy in repaying the original sum, selling it and splitting whats left?

Shoe on other foot - you would be legally entitled to half of the equity in the house on the sale of it if you paid £0.00 for the next 10 years and had to rent elsewhere.

Get legal advice as stated.

Thrugelmir

TigerAngel33 wrote: »

He also has a pension that I said I'm not interested in but maybe I'd need to rethink that.

Book yourself an appointment with a family law solicitor. Your separation needs to be formalised financially. In broad terms you should be able to remain in the property until your youngest chid leaves full time education. After that your ex will be entitled to receive his share of the property equity. Offset against this will other assets such as his pension scheme. You could forego this for a larger share of the property for example.

Do nothing further without advice. You need someone independent to guide you through the process.

TigerAngel33

Thankyou for all the comments. I need to take professional advice on all this. Just been putting it off due to the finances and no doubt, the stress it will cause !

Thrugelmir

Having a professional as an intermediary will provide a buffer against the stress.