Divorce And Seperation Of Assets

[beansmummy]

My husband and I seperated around 18 months ago and I was just after a bit of advice regarding the house.

We bought the house 3 years ago and I currently reside there with our 5 year old, he left the property following an affair.

He has recently broached the subject of divorce and sorting the house out however I have a few concernes as I have recently been looking at mortgages as the fixed term is close to end, however I am unable to get a mortgage on my wage alone. In this instance, what CAN happen? I have been lead to believe that he can't make me sell the house until our little one is 18, but I don't know where that will leave him. I want him off the mortgage as much as he wants to be off it!!

I have also looked into the divorce side of things as he seems to think that there is someway that child tax credits will pay for my half of this, but I cant seem to find anything to support this, does anyone know if this is the case??

I really want to try and do as much of this out of court, for monetry reasons and for the sake of our little one but I am really confused and a little worried about how much a solicitor would cost to seek advice from.

Many thanks

[ummmm]

The only way to get him off the mortgage is for you to remortgage in your name only. If your income isn't sufficient then it will be refused point blank.

[beansmummy]

But can he make me do that as we have a child? this is her home, and as much as I would like for it to be a complete break, if it is the difference between having a house that we own and a house that we rent, then I know which I would rather, this is her future! he isn't paying towards the property.

[ummmm]

Who is paying the mortgage?

[ummmm]

Sorry...missed the last bit.

So you're paying all the mortgage and bills?

[ummmm]

To be frank the banks computers don't care about your personal life. If they say you aren't eligible to get a mortgage on your wage then they won't take his name off it.

He's still responsible for it as well.

Does he pay maintenance?

[beansmummy]

I pay the mortgage and the bills, including a loan to his dad that was used to pay for the deposit. He pays £300 a month towards our little one that is pretty much what it would be through CSA (or whatever it is called now)

[ummmm]

Only a court can force a sale. Is he likely to take you to court?

The problems you might face is when he wants to get another mortgage and also if you go on for years like this he'll be still entitled some a percentage of the equity.

[Sycamore3House]

When you divorce that is dissolving the actual marriage. You still need to do a financial settlement which seems to be the advice you are asking and will give you a clean break from your ex. If you can not afford to buy your ex out of the house could you not sell and divide whatever and buy something else on your own. If your ex is paying maintenance along the lines of the csa guidelines you need to get this stamped/ok'd by a court. A good solicitor will not charge much and it may be of benefit in the long run.

[beansmummy]

We both want to keep it out of court where possible, neither of us are wanting to make it messy for the sake of our daughter!

As for selling, the mortgage that I could get on my own wouldn't be much, so it would be a considerable downsize (which, when you live in a shoe box already isn't great) plus there would be very little equity in the property anyway as the deposit was payed for by the father in law, which I am still paying back, so I would have to clear that debt leaving me with nothing to put into a new place.

Thank you for your help guys, it is appreciated!!

[EDDIE51]

Sorry but you really need to get this situation sorted out legally, it is too complicated to do otherwise.
As I see it at present, the mortgage is in your husband's name and it is getting paid. The mortgage company are only seeing that. You personally are
not getting any 'credit' by way of establishing your own credit rating to help in getting another mortgage .
I would say that you must at least contact a solicitor to establish your legal situation. An hour or two of advice should not cost too much
( £100 or less ) and will be well worth the cost.
The charity 'Shelter' can offer some advice free of charge but it will not be personal to your situation.

[ummmm]

Eddie...I think it's a joint mortgage.

[ladybirder]

Sounds to me as if it's a joint mortgage as well.

Why is it only you who is paying your FiL back for the deposit?

[EDDIE51]

OK , but she still needs to get the legal situation sorted out.

[ummmm]

Of course, Eddie.

It's still a fact though that the mortgage provider will not take his name off if beansmummy doesn't meet their requirements on her own.

[EDDIE51]

Yes ,sooner or later the husband is going to want another mortgage.

[ummmm]

And then he might force a sale.

[beansmummy]

Thank you for your help guys, I am going to see a solicitor with my dad this week.

Currently I am the only one paying my father in law back as me ex is no longer in the property. Therefore he feels that he shouldn't have to pay for anything with it. It's a good job I like beans on toast haha!!

Thank you again everyone.