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The Phantom

Joint Mortgage after divorce problem

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I hope someone here can give me some advice.

 

I am divorced, living in the marital home which has a joint mortgage and a joint secured loan.

 

My ex husband is living with his new girlfriend in her house and is making 0 contributions to either the mortgage or secured loan.

I am currently paying the £1200 per month on my own.

 

As I am the one living in the house with my son, my ex knows the mortgage company and secured loan company will lean on me rather than on him to make payments.

 

I have been going on for 5 years like this with no contribution from him.

 

My ongoing problem is I can't get him off the joint mortgage , (I can't remortgage on my own, due new mortgage lending criteria they say I can't afford it, although I have been paying it for 5 years on my own)

 

Every 2 years when the current mortgage deal expires I have a problem getting a new deal sorted out as my ex is obnoxious and won't fully cooperate.

 

He now says he won't agree to any new deal to force me on to the standard variable rate which could potentially mean I won't be able to meet the repayments anymore.

 

So although he no longer lives at the property and makes no financial contribution towards it, he seems to hold all the cards to potentially make me loose the house, is there anything I can do ?

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What was agreed in your divorce settlement with regards to joint debts...Matrimonial home ?

 

 

Andy


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Surely the marital home issue should of been delt with within the divorce

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What was agreed in your divorce settlement with regards to joint debts...Matrimonial home ?

 

 

Andy

 

That is still rumbling on after 5 years. We couldn't agree on the terms of a financial settlement so it has now gone to court. I can't afford legal representation so represent myself, he has got a solicitor.

I have asked for the legal title of the home to be transferred into my name (I already own 100% of the beneficial interest due to his previous bankruptcy during the marriage), a pension share and that he contributes equally to the secured loan until it is paid off. He is contesting it all, so it is at court now.

As part of all of this I have been asked to try and get him off the mortgage, which Nat West is refusing due to my circumstances....

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This should of ben sorted out before your decree nisi was granted.

What happens with a joint assets.

You buy them out

They buy you out

Home is sold and money split.

Unless children are involved

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Divorce and financial settlement are two separate issues.

He bankrupted himself previously so I bought him out during the marriage. Hence he has no beneficial interest left.

There are also children involved. I still live in the house with our son.

Due to mortgage & secured loan there is hardly any equity.

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Divorce and financial settlement are two separate issues.

He bankrupted himself previously so I bought him out during the marriage. Hence he has no beneficial interest left.

There are also children involved. I still live in the house with our son.

Due to mortgage & secured loan there is hardly any equity.

 

No there is not...thats why you are in this dilemma now because your settlement should have been sorted way before the nisi was granted.


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The only difference is we would still be legally married on paper but simply stuck at decree nisi . Everything else would be exactly the same.

He would still be living elsewhere and not paying his debts and I would still be here.

There would be no difference from a finance point really.

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Yes there would be.

You wouldn't have a decree nisi

He wouldn't have debts connected to you.

The house would be sold.

 

This should of been sorted out at court especially as there are children involved.

It shows the importance of you cannot do without a solicitor at times.

 

You really really need to employ a solicitor now to get it sorted, even if you think you cant afford one.

What if the bank start repossession if your behind in the payments

Edited by dx100uk
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I had a solicitor for a while, I paid £250 an hour and I am no further than what I was before I put most of my capital into her bank account.

I simply reached a point where I ran out of money.

 

The house will not be sold, as it is my main residence and that of my son.

It will most likely end up as an offset against his pension assets.

As he has twice the pension pot and there is not much in equity in the house, there will most likely be an offset.

 

The judge has ordered an actuary report on the pensions and surveyor report on the house. (another £1200 expenditure approx)

Then the parties will reconvene in maybe three or four months time for the next court hearing when all figures are available.

 

He is pretty confident an agreement can be reached without the need for a final hearing.

So I am sort of past the divorce part, I am now in the financial settlement part of things.

 

Whether or not a decree absolute is in place at this stage is really not relevant to the outstanding financial issues.

The financial issues would be exactly the same.

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the courts can order his name to be removed from the deeds adn also a remortgage. this costs a small amount to get the variation and in practice wont change a thing for you other than make it formal. You need to get this in front of the judge though

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If you need to remove a name from a title deed for a property with a mortgage on it, you will need written consent to do so from the lender.


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