Joint mortgage help!!

chloeH95

I split with my boyfriend who I share a house and 2 kids with, he stopped paying 9 months ago and I’m trying to buy him out but if I can’t get a big enough mortgage to do so is their any option to freeze the equity on the house so he doesn’t end up getting more of the equity as I want to make home improvements and extend my house?? 

I need to remortgage as my deal ends at the end of the month but I doubt I can get enough mortgage to buy him out and for the extension so can I take him off the mortgage, take out a new deal but keep his equity on freeze until I can afford to pay him back say in 10 years time when my kids turn 18?? 

[Deleted User]

If he agrees to you not paying him anything, then yes.

However, if you can't get the mortgage on your own, it's a moot point.

chloeH95

So basically if he agrees and we go to a solicitor and get something drawn up then it’s ok but if he refuses their is nothing I can do and he’ll stay on the mortgage and eventually get 50% as I won’t be able to freeze the equity?? 

[Deleted User]

Are they his children and how old are they? 

[Deleted User]

chloeH95 said:

So basically if he agrees and we go to a solicitor and get something drawn up then it’s ok but if he refuses their is nothing I can do and he’ll stay on the mortgage and eventually get 50% as I won’t be able to freeze the equity?? 

If you can't remortgage, he's staying on the mortgage regardless.

What you do with the equity and anything you owe him is between the two of you.

chloeH95

Densol said:

Are they his children and how old are they? 

Yes both his and 4 & 8 

chloeH95

Deleted_User said:

chloeH95 said:

So basically if he agrees and we go to a solicitor and get something drawn up then it’s ok but if he refuses their is nothing I can do and he’ll stay on the mortgage and eventually get 50% as I won’t be able to freeze the equity?? 

If you can't remortgage, he's staying on the mortgage regardless.

What you do with the equity and anything you owe him is between the two of you.

Thank you

[Deleted User]

you may want to take legal advice from a lawyer that deals with CHILDREN ACT cases. As you are housing both his children, you can make an agreement or the court can order under schedule 1 of the Children Act that the priority is to house your children until they are 18 and then things like equity splits are carried out then. Sch 1 applications are complex and needs specialist advice but worth having a chat with a solicitor that does that specific area of law. Not just Child arrangements applications, but applications under Sch 1 Childrens Act   

chloeH95

Densol said:

you may want to take legal advice from a lawyer that deals with CHILDREN ACT cases. As you are housing both his children, you can make an agreement or the court can order under schedule 1 of the Children Act that the priority is to house your children until they are 18 and then things like equity splits are carried out then. Sch 1 applications are complex and needs specialist advice but worth having a chat with a solicitor that does that specific area of law. Not just Child arrangements applications, but applications under Sch 1 Childrens Act   

The reason for not having enough to buy him out though is because I need it to build another room for my new partners daughter and my ex isn’t obviously happy about that. So technically my kids are sorted 

gizmo111

chloeH95 said:

Densol said:

you may want to take legal advice from a lawyer that deals with CHILDREN ACT cases. As you are housing both his children, you can make an agreement or the court can order under schedule 1 of the Children Act that the priority is to house your children until they are 18 and then things like equity splits are carried out then. Sch 1 applications are complex and needs specialist advice but worth having a chat with a solicitor that does that specific area of law. Not just Child arrangements applications, but applications under Sch 1 Childrens Act   

The reason for not having enough to buy him out though is because I need it to build another room for my new partners daughter and my ex isn’t obviously happy about that. So technically my kids are sorted 

Any court is going to look at housing your children as priority to your ex and calculations will be based on your ex's responsibility for his children , not your new partners, which he has no responsibility to house or defer his entitlement to any equity share to house them.
I would suggest that you sort things out with your ex first and then make a plan with your new partner on how your joint children will be housed!