Paying mortgage on my own after abuse/divorce

IvyFlood

Me and my husband have recently separated after he was violent to me on two separate occasions as well as other things. He was arrested and I am receiving support from the relevant authorities.

We have a joint mortgage and a 16 month old son.

I want to divorce him and I am entitled to legal aid to do so.

My main question is surrounding the house and before I go to the right people (ie. Lender, solicitors etc) I just want to get some feelers as to whether I can afford to live in the properly myself.

Here’s some details;

Current repayment: £978p/month

Left to pay: 128k

Value of property 248.5k

Equity: 120k

Term left: 16 years

My salary £22,488

Outgoings approx. 1k (this includes £300 childcare bill that will effectively reduce to £0 from September when my son gets 30 free hours)

I know my salary isn’t much but I would be entitled to universal credit of approx. £463p/month and £277p/month maintenance from my husband.

I have done some sums and I think I can afford to stay on my own with my son if I was to increase the term considerably to 30 years and a repayment of £700 ish and if my lender (Nationwide) would take UC into account? Failing that, would my parents (in their 70s) be able to come on the mortgage with me as a guarantor? How would it work? They are in a good financial position with final salary pensions, their mortgage paid off (though I think my Dad left a tiny bit on it!) and have said they will help but I’m just not sure due to their age.

Also if anyone could offer any information on what a court might decide in terms of me staying in the house with my son. Could it be more of a 70/30 split?

Everything is very much over my head at the moment but I will be seeking legal advice.

itsthelittlethings

You’re always better off out of an abusive relationship. No practical advice but I wish you all the luck in the world.

DE_612183

You'd probably have to buy him out to stay in the property long term - usually divorce starts at a 50/50 split, unless he agrees to a 70/30 split in terms of payments and share of the equity - is that possible?

You talk about your salary etc - what about pensions and other assets you both have - they could come into play as well...

IvyFlood

@DE_612183 probably not knowing him, he will want 50%. I just didn't know if a judge might decide 70/30 to me given I live there with my son as his primary carer.

Assets wise note much at all! I have a very basic workplace pension as well as some other pensions from previous employments. He has an nhs pension. Savings are minimal.

DE_612183

IvyFlood said:

@DE_612183 probably not knowing him, he will want 50%. I just didn't know if a judge might decide 70/30 to me given I live there with my son as his primary carer.

Assets wise note much at all! I have a very basic workplace pension as well as some other pensions from previous employments. He has an nhs pension. Savings are minimal.

The problem is you have to go down the route of a discussion about assets ( everything ) so all the pensions will be taken into account - how long did he work for the NHS? It may be that his pension is worth quite a bit and you could use that as a bargaining tool.

The problem you'll get is even if the property is 70/30 in your favour - the mortgage will be joint - so if he stops paying you are out.

You are better off ( I think ) trying to buy him out - and you can use his pension to do that.

Sort of "you give me the house, I'll let you keep your very valuable pension"

You then just have to find the funding for the £128k - you could talk to nationwide about this - at least you'd know if it was possible or not, and if not - then selling and buying somewhere else will be your better course.

IvyFlood

I'm assuming you mean buying him out during a divorce and not before? It is a good bargaining tool as yes it will be worth a lot more than my pensions combined!

ACG

Fair play for getting out, once is too much but twice you sort of realise its not a one off. Good luck. 

In terms of mortgages etc, most lenders need the maintenance to be court ordered or through the CSA or to have been paid for 6 months before they will use it. Is he likely to pay it though? I only ask because im not sure if you want to rely on it. 

You might be able to just scrape enough between your income and UC to get a mortgage to clear the balance and get it in your name. I dont think that is a given though, it does look tight so the devil will be in the detail. But the bigger problem might be trying to raise any extra to give to your ex... He might be prepared to give up his equity in lieu of child maintenance? 

I think you need to speak to a solicitor really.  

Hoenir

Seek advice from a family law solicitor. The mortgage and the property need to be considered as part of the overall picture. Broadly speaking the court assumes guardianship and welfare of any children. In determining whether  the settlement is fair. The court will protect the interests of the children. Remaining in the family home during troubled times provides the children with stability during their important formative years.