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Mesher order ?

(4 Posts)
user1488914221 Tue 07-Mar-17 19:30:20

I am so confused! My solicitor appointment was useless and now I am 300 quid down ! All she would say is she couldn't make any assumptions at this point!
Soooo....Any advice greatly recieved...

I earn 19k part time. He earns 55k full time. We have 55k equity in the house with a mortgage of 170k. If I get a mesher order who pays the mortgage? I can afford it on my own. I know he would really struggle to rent somewhere half decent and pay half the mortgage as well as live. But I know the bank won't let me take his name off as I don't quite earn enough.

What are my options in terms of staying in the house? Could I pay the whole amount and then he get a settlement when kids18? Or technically under a mesher order does he have to pay half ?

I would just scrape enough to get a mortgage on my own but not close to this area or of a decent standard ( we have 1 child and 1 on the way).

Thanks in advance !

Hermonie2016 Tue 07-Mar-17 23:08:15

So you will be on maternity for a while?

Could you get a mortgage with salary, tax credits, child support, use csa calculator?
What type of house could you afford on your own?
Are there pensions or any savings or other assets?

Courts focus on the children's needs and they will need a house.If you are adequately housed now (not over housed ie 5 bed) they will look to retain house if possible and his share of equity could be offset by his pensions or he could be asked to pay spousal maintenance, rather than the actual mortgage.

Do you have a budget of what you will need to survive? Is there a figure you can ask him for?
Sorry for more questions, but it's likely you will get more than 50% of equity especially if he has a pension pot.

If you can manage the mortgage on your own it's seems sensible for him to forgo equity until children are older.Are there family members who might be able to help with a loan to you

Good luck with your pregnancy.I hope you are dealing with the stress ok.

user1488914221 Wed 08-Mar-17 06:44:32

Thank you for taking the time to reply.

Yes I will be on maternity but I am a teacher so my maternity pay along with SMP won't be far off what I actually earn part time anyway. As long as I go back before a certain time my pay won't drop. However I wouldn't want to go back early as I will actually lose more money in tax credits next year than I would gain going back!

We have around 10k in a work share save but that's it (they are in his name)

In terms of pension I have paid into my teachers pnsion for longer than he has contributed to his so I imagine it's probably a similar amount in each pot what with him earning more.

If they were to take everything into account for my mortgage I would just about afford a 3 bed in a half decent area but it would need a lot of work doing etc. This is dependent on what they class as outgoings too, if they only consider childcare as my main outgoings I should have enough on the calculator. It would cost around 180k. I currently live in the best area for schools etc so it's too expensive to buy another house here on my own.

The house we are in is technically a 4 bed but when we bought it they were sold a 3 beds with a study (The 4th bed isn't really big enough)

I can definitely afford to stay here without his help other than maintenance. There isn't anyone that could Loan me any money unfortunately.

Tricky situation as I am right on the boarder line for it being financially viable to to buy another house.

Hermonie2016 Wed 08-Mar-17 13:55:14

Try and see if you can get a mortgage for existing balance as it seems sensible to stay there.
If you can manage to survive each month then I think you have a good case for retaining most of the equity or a proposal that his share will be released when you can remortgage, which could be before your children are 18.

You have very young children and the courts will focus on their needs so I think his needs will come down the list.

Is it reasonable amicable between you two? Could you suggest a financial contribution monthly and suggest he transfers over the house, accepting that he may not get equity for quite a few years.

With the equity you will need to consider if he gets a % of house value or fixed amount.
He will want a % I guess, as you paying the mortgage means he benefits over the longer term.

I think it's worth seeing another solicitor as I had a similar experience to you.2nd one I saw gave free advice and I felt much more comfortable .
You could take your proposal and see if she thinks it would be acceptable.
I would say that as you are pregnant you need to prioritise yourself.Your ex will have to manage on what is left after you have adequate income for your children.

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