Remortage and separation

ninnoodle

Hi there, looking for some advice. I admit my understanding of mortgages is pretty ropey.

I have a house with my husband, our mortgage is with NR and we also took out a loan with them to help the mortgage to come to 100% (3 years ago).
Now the fixed term is coming to an end in September, we want to remortgage, but also to put the mortgage in his name and buy me out since we have separated. He has received a letter from NR stating the deal was coming to an end in September and that basically we'd be better off going elsewhere. I haven't a clue what to do next. He wants to go to the morgage advisor we got when we bought the house but I'm not sure that is the most money saving thing to do (could be wrong..) Is anyone able to advise the next steps?

krystal-divination

Hi

i can only give you my experience, i was in same situation splitting up at time of remortgage i was advised under no circumstances should i let my ex put the mortgage into his name only, so we had a new joint mortgage and it took couple years anyway to divorce and sell house so the 2yr mortgage worked out fine.

have you seen a solicitor yet ? sounds like its time you did.

be carefull.

best of luck.

ninnoodle

Thanks Krystal-divination. Why were you advised not to put the mortgage in his name only if you were separated? I was hoping to release my share so I could buy a place myself.

No, not yet seen a solicitor - too worried about fees at the moment!

krystal-divination

i was told to not allow divorce to go through untill agreement had been made also if you take a amount now and buy a place but you are not divorced i was told that the ex can also claim half the house you buy ! so they get their half and then have the right to claim again upon divorce.

as i said before this is just the advice i was given and my experience i know each is different but i didnt want to risk loosing more.

can you get legal aid for solicitor thats how i did mine, the costs come out the division of the assets later on.

better to get advice than to risk loosing whats yours.

surfsister

krystal-divination wrote: »

i was told to not allow divorce to go through untill agreement had been made also if you take a amount now and buy a place but you are not divorced i was told that the ex can also claim half the house you buy ! so they get their half and then have the right to claim again upon divorce.

as i said before this is just the advice i was given and my experience i know each is different but i didnt want to risk loosing more.

can you get legal aid for solicitor thats how i did mine, the costs come out the division of the assets later on.

better to get advice than to risk loosing whats yours.

Thanks for the info, will help many.

Can you please give an idea of your costs? My mate's mum is going through this and needs any help she can get! She has had it all sorted through mediation you can gte legal aid for this too but the agreement will not leave her any slack so if she gets the house to live in with kids (my mate!) how can she use that to pay the legal aid? Ta

krystal-divination

surfsister wrote: »

Thanks for the info, will help many.

Can you please give an idea of your costs? My mate's mum is going through this and needs any help she can get! She has had it all sorted through mediation you can gte legal aid for this too but the agreement will not leave her any slack so if she gets the house to live in with kids (my mate!) how can she use that to pay the legal aid? Ta

my own cost about £3k but only that much as i took him to court as he 'didnt' want me to have my 50% (after 20+yrs together !!) and he was not looking after the house ( i had moved out ) it was a smelly dump and it was up for sale !!!

my solicitor said approx £2k but its the court that bumped it up.

it will differ between individuals, best to try settle out of court if you can.

If your mate has no slack cash can she repay to legal aid in instalments ?
just a thought or tag a little extra to the mortgage ?

its not an easy time, good luck to her x