Mortgage after Moving Out

silvercar

AuntyJean wrote: »

Any suggestions!!!

Maybe he should just keep paying the mortgage so she and her lover can live there in luxury eh?

His mistake was moving out, most divorce solicitors advise that moving out reduces the ability to get things sorted quickly and equitably.

I accept that it is not always ideal.

Dick_here

silvercar wrote: »

His mistake was moving out, most divorce solicitors advise that moving out reduces the ability to get things sorted quickly and equitably.

Perhaps she kicked him out, and/or he was pleased to go. He's a decent enough chap to carry on paying the mortgage though.

Now, tell me why the wife can't work full-time as the LO is 18, please.

Gorgeous_George

As silvercar says, he should not have moved out. Now he has rent and a mortgage.

By not paying the mortgage, he is inviting the lender to repossess the marital home and evict his wife. This will rack up significant costs and he will end up paying them.

His wife will wait for the divorce to be settled before moving her new man in. I guess she is more intelligent than your catch.

I never like people who get involved with married people. I hope he's a City fan.

GG

AuntyJean

silvercar wrote: »

His mistake was moving out, most divorce solicitors advise that moving out reduces the ability to get things sorted quickly and equitably.

I accept that it is not always ideal.

He did stay, for 4 or 5 yrs while she had affairs! He worked 7 days a week to get out of the house, had to sleep on the sofa and rarely got a cooked meal!!

I did not bother telling that bit as I wanted an unbiased answer, not sympathy for him.

We only met a year ago and became friends, not lovers. That only happened when she said she wanted a divorce.

AuntyJean

!!!!!!_here wrote: »

Now, tell me why the wife can't work full-time as the LO is 18, please.

That is what we both feel. She is in her early 40s.

Gorgeous_George

AuntyJean wrote: »

That is what we both feel. She is in her early 40s.

She doesn't need to because her husband can pay the mortgage.

GG

Debt_Free_Chick

AuntyJean wrote: »

Hi friends.

I took the plunge and moved into rented accommodation with my new man. Life is heaven & I have managed to almost sort out my past probs but he has a problem you may be able to give some advice on.

He has always been the earner of the family and his wife only works part time. He has paid all the bills with a little contribution from her. They remortgaged their property (about 90% now) and when she found a new man he moved out but his wife's new lover has not moved in.

My new fella is still paying the whole of the mortgage but has stopped paying all other bills. Mortgage about £695pm. His wife is divorcing him but this is taking time (she has free solicitor and is not timely with providing documentation evidently). In the meantime, he gave wife option to buy him out but she could not get a mortgage on her own.

The only option was to sell up but a) there is little equity in the property due to the high mortgage and b) she is not co-operating with the sell.

So he stopped paying the mortgage this month. What are the consequences?

We have been together 4 months and plan to get married but finances are crippling us at the moment. I am struggling to pay for everything where we are living but he is crippled with the mortgage and a loan which should be paid off by end July. His income just covers both with a bit of spending money.

He is desparate to contribute and feels really bad about it hence reason for cancelling mortgage but I am concerned they will come after him as the main earner!

This is horribly complex and really needs proper legal advice from a Family Law solicitor. But, in general .....

I assume the mortgage is in joint names? If so, then each party is fully responsible for the whole mortgage (jointly and severally liable). The lender doesn't care who pays what - they just want the repayments made in full. They'll pursue either and both party for full repayment.

Usually, with children, the bread-winner is required to contribute to the general bills of maintaining the former matrimonial home. In this case, the "child" is 18yo. Is she still in full time education? If so, then your OH may be required to pay maintenance to fund some of the costs of keeping her in the former home - but it depends on the circumstances.

If the daughter is working, then her ability to contribute to living at the former home will be taken into account.

The needs of housing the daughter at the former home is key here. If she no longer lives there or if she is working and can contribute to the bills for the former home, then OH's contribution ought to be adjusted accordingly.

He is stuck between a rock and a hard place. If the mortgage is not paid, then his credit rating will be affected. And if the property is repossessed, that will be as much his financial problem as his ex-wife's.

Get legal advice - and fast!

Debt_Free_Chick

One further thing .... the ex-husband does generally not need to contribute to keep his ex-wife in the former home. Ex-wife might have to "downsize" in order to get a clean break. And she might need to work to do that, especially if she is capable of work.

Each party is assumed to be "grown up" and expected to work to support themselves. It's only where there are dependant children involved that the matter of maintenance comes into play. No man (or woman) is expected to finance the living costs of their ex-wife (or ex-husband) if they are able to support themselves financially.

Gorgeous_George

...but they are STILL married.

Married men and women have responsibilities.

GG

silvercar

Each party is assumed to be "grown up" and expected to work to support themselves. It's only where there are dependant children involved that the matter of maintenance comes into play. No man (or woman) is expected to finance the living costs of their ex-wife (or ex-husband) if they are able to support themselves financially.

In some cases (don't know if it applies here), the court will accept that the wife has put her career on hold to look after the children and therefore her career and earnings ability will be reduced by that joint decision. This, together with the support that she would have given to him in pursueing his career over the years, would mean that she would be entitled to some maintenance in order to allow her to maintain at least some of the standards she has been accustomed to. Any maintenance awarded to her (as opposed to her for the child) would cease if she remarried or moved in a new partner.

This is all secondary to the need to sort out the marital home and to get rid of the large mortgage!

I think the ex is more astute or receiving better advice than your man, he really needs to get professional advice ASAP.