Anyone bought house with ex??

(8 Posts)
ShirleyValentine74 Fri 11-Nov-16 07:43:16

Hi all the situation is me and husband are separating and we have accepted an offer on our house as it is a big 4 bed detached I can't afford to live there in my own. Now I am self employed and don't have enough accounts to apply for a mortgage of my own but if i take the equity from the property add keep it till I can get a mortgage it would mean I couldn't get the universal tax credit which would really help me out and I would have to dip into my house deposit. So ex was thinking about buying a smaller house for me and the kids which his maintenance would more than cover the repayments and I could still earn and get any top up credits if needed. His monthly salary is 6 times mine at the minute. Obviously would put house in joint names again. Has anyone been in a similar situation? Thanks

user1477282676 Fri 11-Nov-16 12:48:17

The thing you have to consider here...is what were your reasons for breakin ng up with him and what happens if he meets someone else and wants to set up home with them? He might want to sell the house you're living in to finance that.

Phillipa12 Fri 11-Nov-16 19:33:23

This is exactly what my ex and i are doing, our old house has been sold and i am using all my equity as a deposit on a house and instead of giving me child maintenance every month my ex will be paying my mortgage instead. I would rather have a roof over my dcs heads which the dc know is permanant and my ex is also in agreement with this. It does help that he is a high earner and our old marital home had a substantial amount of equity in it so the mortgage is relatively small.

user1477282676 Fri 11-Nov-16 22:30:27

It all seems great on paper but what happens if there is a new relationship on either side? Men won't happily pay mortgages for other men to live in the house....equally, what if the ex met a new woman? Or either side had a new baby?

mysistersimone Sat 12-Nov-16 12:29:15

To clarify, your ex would use all your settlement to buy a house and then pay the mortgage and the property would be in both names? If yes then that's not fair. The settlement money is yours and the maintenance payments is yours and he's then be entitled to 50% of that? Can you not get your own mortgage?

OzzieFem Sat 12-Nov-16 13:14:42

Agree with pp. He wants you to use the maintenance you are entitled to for the mortgage repayments on a new house AND get his name put on the mortgage, when he is in reality not contributing to it. Does he really take your for a sucker!? You need URGENT legal advice. FGS don't agree or sign anything until then.

ShirleyValentine74 Sun 13-Nov-16 19:32:56

Thanks everyone as I only have 1 year accounts from my business I'm finding it hard to find a mortgage I've got a financial advisor on the case

mysistersimone Mon 14-Nov-16 12:53:38

Glad you have professional help. Don't want you to be taken advantage of

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