Can he walk away and benefit in years to come?

[happyhappymummy]

My soon to be ex has stopped paying his half of our int only mortgage so as I do not wor dwp are paying the int for me. The int only term has come to an end and capital needs to be paid. I dont have it and my maintainance payments are ridiculous they wont cover it. I cant go on a housing list or private rent as Im considered housed. As soon as Im threatened homeless (which will happen as the mortgage company will now take legal action. House is also up for sale) Me and my 3 daughters will be housed in emergency accomodation somewhere within a 40 mile radius, depending if there is accomodation.
Now Im thinking ok I will work, do anything to keep our home but then will be liable for full mortgage but at least we keep our home.
My question is my soon to be ex will be on the mortgage and in 10/15 years he will get a lump some of my bloody hard work. Im gonna have to live on a very tight budget for a long time to keep our home as I can only work in a job that will take me as Iv been a stay at home mum for years and have no experience or qualifications.
I cant take his name off the mortgage cos I dont work and would have to earn 35 k a year to do so.
Please someone tell me what my legal rights are? Why should he walk away from paying the mortgage and then benefit from it?

[Collaborate]

You can apply under Schedule 1 of the Children Act for the property to be put in trust so that you can live in it until the children grow up. There have been umpteen threads on this subject.

Google "equitable accounting", which is the process by which you can get credit for any capital payments you make towards the mortgage, but payment of interest by you is generally considered to be in exchange for you having the property to yourself.

[happyhappymummy]

Thankyou Collaborate :)
I will google it now!

[mumblechum1]

But are you married?

If so then you may be able to get the house transferred to you under a Mesher charge, so that when your youngest dc is adult/completes full time education, the house is sold and the money divided. If he hasn't contributed during that time then you'd get more than half.

Couldn't tell from your OP whether you're married or not; it makes a big difference.

[Collaborate]

Though if there's very little equity you'd expect the court to order an outright transfer on divorce.

I'd assumed mumble they were unmarried.

[mumblechum1]

Yeah, hard to say Collaborate, but she says "soon to be ex" which I kind of read as husband.

But who knows?

[mumblechum1]

btw OP you can get around the problem of him remaining on the mortgage if yuo're married by having a clause in the consent order (within the divorce proceedings) accepting liability for the mortgage and indemnifying him against any action by the lender if you default. So his beneficial interest can be transferred to you even if he remains on the mtge account.

[happyhappymummy]

Hi sorry yes we are married and going through the divorce now.
mumble.. At the moment theres no equity and the house is up for sale. He is paying nothing and every month I will be paying the mortgage and in 11 years when my youngest is 16 I would of paid approx 40k off so if we sold he would get a percentage of that even though hes paid nothing towards the mortgage in years? Im sorry Im not sure what you mean by your last post? He isnt supportive in any way. Even for me to work he wont help out with childcare he has nothing to do with their interests or schooling. He pays a very low maintainance and is living comfortably in his gf's big house has a new car and is holidaying every year. I will be working and really cutting back to keep our home for our daughters and the thought of him benefiting drives me mad. Iv been to the council and as we are considered housed I cant be put on any list or private rent claiming housing benefit until Im told I will be homeless(sold or repossessed). The only thing I can do is keep the house and to do this is gonna be a struggle.
Colla..Whats an outright transfer?

[happyhappymummy]

Ps Sorry Id already mentioned about the council. My head has gone :s

[Collaborate]

It's a transfter of the property so that you are the sole beneficial owner. The mortgage, as mumblechum says, might have to remain in joint names, so you'd be expected to promise to the court to indemnify him against all liability.

[happyhappymummy]

Oh I see thanks. The deeds? Someone said about this to me yesterday. He will have to agree! I will mention this to him!

[happyhappymummy]

Thanks babybarrister
Im going through a divorce so yes I have one. I was told to sell and when I spoke to her today she said that him signin the deeds is good for me.
Just read your post on another thread and looked at that site. Will have another look now thanks!