Separation

[LadyTiffany]

A married couple for 2 & a half years with a 3 year old child, joint mortgage, both working now decide to separate. Wife cannot afford mortgage alone, but the husband can. Wife has an option of somewhere else to live, husband does not. So the question is, if wife agreed, can husband buy her out, and at what % would the law say he has to pay her of the equity (theres probably about 40k equity in the house) and then pay maintenance of £100 per week for the child. OR could he be forced to leave (he dosent want the separation) and end up paying for mortgage and maintenance and probably be homeless in the bargain. Thanks in advance

[EDDIE51]

Far too complicated to sort out on here. you need a solicitor.

[ummmm]

The husband can buy the wife out but only if the mortgage provider agrees.

The rest needs a solicitor.

[LadyTiffany]

Thanks. They are trying to sort things amicably and without the need of the hefty solicitors fees. Any advise is gratefully recieved

[EDDIE51]

Go to a mediation service I think the CAB can help.
As you say solicitors fees are huge at least £50 a page just to write a letter. I know this from my daughters separation.
As to the mortgage they need to contact the mortgage provider, even if as you say the husband can afford the payments on his own they need the lenders permission to make the change. The lender may not be happy as they are losing the security of having two working people to share payment and may not want to change to a single person paying. As it is a joint mortgage it will have to be replaced by a single mortgage anyway.
If the mortgage lender will not accept it , that changes the entire situation. So get that sorted first!

[murraymints]

any cash settlement will need to be negotiated and CSA will dictate and facilitate any child maintenance payments

[LadyTiffany]

CSA is a waste of time it takes forever and is a totally unfair and unrealistic system, I know this first hand from experience.

[murraymints]

I know about their failings but at least CSA ensure payments are made..any other agreement is a house of cards

[Dreamsandlove]

Ummmm is right. This is the choice of the mortgage provider. My ex was in the same situation with his ex ex. Be careful in all of this even though it's amicable the ex may try to misinformation you things. My ex partner was trying to rip his ex ex out of the house when buying her out. Get a solicitor to be on safe side