mortgage help re EX

[suuzzzy]

Hello there, a bit of a long one but wondering if anyone else has been in my situation and can offer some help. so I bought my house back in 2000 with my then husband. (now divorced) We remortgaged in 2008 and then he left me in 2013. We did the divorce ourselves so never sorted any of the financial stuff out ~ naive I know! The mortgage is still in our joint names, I really want to take his name off of the mortgage but i've no idea what he might be entitled to. I've paid the mortgage on my own since he left in 2013, i have brought up his 3 kids. He's only ever paid a token amount weekly towards the kids where as i have paid the mortgage, upkeep mantienance on the house. How much do you think he is reasonably expected to get from the house?
If you've read to the end thank you! Id really appreciate any advice from others who might have been in my situation x

50% is the starting point. You may have divorced but you never sorted finances so it’s all fair game. Also although you’ve paid 100% of the mortgage since than, as you’ve been living in the house and he hasn’t then you’ve paying paying your half and then his half as “occupational rent”.

Yes, 50:50 I'm afraid. You've had free use of his equity for the last 11 years.

It's not necessarily 50/50 but the fact you have paid for years and he has not is not the most relevant fact either.

It's going to depend on the whole joint pot of finances between you; what you can both earn etc etc. You won't get accurate advice from anyone here.

You had a reasonably long marriage. He was entitled to (starting point of) 50% of the equity in 2013.

You need to get the finances sorted (unless you have remarried, in which case you're in deep shit) and pray. The marital assets will also include all savings you both had at the time you split, any debts, any pensions.

How old is your youngest child as you need to sort this out ASAP if they are still young children. Assume the youngest may be 10?

You may have an argument that your ex should not get half the equity ( either working out the house value at the date of separation or the current value) because you can't remortgage to give him half the equity and you can't downsize because you need to rehouse all 3 children ( assuming they are all under 18 and not working) and assuming your housing needs are reasonable.

Other posters are right about what they say about pensions and other assets. The worry is that if he is a low earner his pension will be worth less than yours.

Please don't leave it as situation could get more difficult. For example, what happens if your ex husband dies ? If he has remarried and there is no Will then the new wife will get most of his estate - including half your house if it is still owned as joint tenants . Worryingly, if you were to pass away before him and if the house is owned as joint tenants he would get your half - not the children. That applies whether you have a Will or not. You can solve the joint tenancy problem by converting the house ownership to tenants in common and making a will but that only sorts out the house / death issue.

The whole divorce settlement situation needs sorting out - the first step is speaking to a family lawyer who can give you accurate advice

Has he remarried?
has he purchased a property
does he have assets
what other assets do you have

point one is key

in the basis the answer is no you could be looking at 50:50. Your argument that you’ve been paying the mortgage isn’t relevant as you’ve also had sole use of a joint assets while tying up his capital so he’s been unable go invest it elsewhere

you may get higher share depending on other answers to points and possibly if can demonstrate you’ve been more disadvantaged by having primary care of three children

You can’t just get him off the mortgage, you’ll have to buy him out, or sell.

You need a solicitor

Ah no I’m hoping you’re not expecting you would be entitled to more equity / share because that wouldn’t be the case. Starting point will be 50/50 but depends on each of your earning potential and lifestyle needs.

You won’t be able to get him off the mortgage without his consent and you would need to pay him whatever his share of the equity may be … unless he is incredibly reasonable and doesn’t want anything.