Would keeping ex husband on our joint mortgage affect him getting another mortgage?

katymayo

Me & my husband are divorcing, I'm currently in the martial home & he is renting, he has asked for £50,000 to buy him out so he can get his own place. 
I pay for everything in the martial home Bill's & mortgage he is paying child maintenance. 
Now I think the bank would let me take the mortgage on in my own right but I don't think for one second they would let me release £50,000 to pay him off.
So my question is could we keep the mortgage joint and release the money hes asking for so he can buy another property elsewhere? Would he be able to get another mortgage if his name is already on another one?

ACG

He would be able to get a mortgage in theory. But being liable for another mortgage is going to affect how much he can get on his next mortgage. Regardless of whether or not he is paying it, he is still liable for it if you stopped. 

You would also be a bit mad to give him £50k and then allow him to still own a share in the property as he could still be able to claim 50% of any equity down the line - even after his £50k and you have been paying the mortgage. Get him to sign something I hear you say... But what happens if you want to remove and he refuses to sign the paperwork unless you pay him again? 

Money has a funny way of changing people. 

Thrugelmir

Are you having a financial consent order drawn up? Priority of the courts is the welfare of the children. Everything else is secondary. As painful as it might be for one of the ex’s. 

katymayo

We are both extremely amiable with each other, we have no other assets other than the house. We have 2 children together & they are obviously my no.1 priority....I know if I wanted I could dig my heels in & take it to court but I don't want to do that and drag everything out....I just want an end to it all. Currently the bank have said to me they need to see him paying child maintenance into my account for a least 6 months before they will look at anything, which he has just started doing. Divorce proceedings & consent orders haven't even started yet. 
If I was to somehow give him the money he wanted from this house & he stay on the mortgage I know he wouldn't come asking for more down the line hes not like that but I assume you could get something legal drawn anyway saying he has no rights to any future gains from the house.