Seperated but it's remortgaging time

[Dadtofour12]

My wife and I have been separated for 18 months and whilst we're trying to sort out the finances, my wife and her solicitor are seemingly dragging out the process. The end of our fixed mortgage deal is looming. I really don't want to remortgage and get hammered on exit fee's once we have the financial order settled, nor do I want to pay the extra £700 per month once we hit the SVR. Other than pushing for us to agree the finances before the end of the fixed period, is there anything else I can do? I've been paying the mortgage and some bills since I left and there's no way that my ex will be able to get a mortgage on the property due to her salary/mortgage size.

I'm trying to minimise legal costs due to paying for two households but I appreciate that it might not be possible for much longer! Any advice or stories to be shared would be helpful.

What’s the plan then if she can’t afford the mortgage? Are you going to move back in or is the house to be sold?

Interest only ?
if she’s stalling you need to push for a court date

stop paying the mortgage. That might sharpen the ex and solicitor into getting on with the financial agreements.

Do not under any circumstances remortgage. At best - you’ll be tied in for another 2 years.

You’ve been separated for 18 months. That’s more than enough time to have sorted this. Don’t let this drag on any longer.

If your EW has sole enjoyment of the former marital home then she needs to pay for it. If it was court ordered she could stay - then she would have to pay the mortgage in full.

If she can’t afford the mortgage the house needs to be sold.

As the above poster says - if she’s paying then that will push her to get this sorted.

Op needs to do the maths

diing nothing will lead to much high monthly outgoings on svr

it might be financially better to remortgage for / years on interest only mortgage with a early redemption fee

but I agree op needs to be tougher in starting to reduce money given and together to court if ex wont move things forward. At the moment there is no incentive to do so!

op also consider moving back in ( appreciate you won’t want to) but it might galvanise ex to start progressing

It could be worth requesting a mortgage holiday to give you some breathing space.

We will need to sell - but as others have stated - I haven't really pushed her to get this sorted so she currently has no incentive.

Thanks for all of your comments. I do need to progress this and not let it drift.

Why haven’t you pushed it with her ?

Guilt is the main reason I think. She’s having to start again at nearly 50 and I feel really bad that I’ve wasted her time. A couple of the kids still live at home too and it’s obviously disruptive for them too (youngest is 16). It also took an age to get my pension CETV.

It’s never a good time.
time to rip the plaster off. No point feeling guilty and crippling yourself with debt. You need to all be able to move on independently and this is not helping.

so id say it’s time for her to step up and start contributing . Look for interest only mortgage with low early exit fee for 2 years. That will be cheaper than svr even if you manage to sell house in 6 months ( which is unlikely )

Go onto a fee-free tracker? No idea about the divorce part of it, but that’s what we did when we knew we wanted to move soon and would need to borrow more etc. Not as good a rate as a fixed term but far better than SVR

Thanks - I'll take a look at mortgage options with an advisor.