Re: divorce & new mortgage in sole name

[Confusedmummy2017]

What is it called please when you get a new mortgage in your sole name & have a consent order that you will pay the ex husband an agreed amount on certain milestones (youngest leaving full time educaton) what do they still have in the property?

I'm filling out mortgage forms & am very confused.

Thank you

Is it a charge over the property?

Depends where you are. The consent order could be registered as a Caution or an Inhibition in dealings. Speak to the solicitor handling the remortgage and they will advise.

It's called either a Mesher Order (linked to end of education of a child) or a Martin Order (linked to your death). That is where the property is placed in trust. The other alternative is a transfer in to your sole name with a charge back in his favour.

What is the difference between the mesher order and the transfer into my sole name with a charge back in his favour?

Thank you

In one, you jointly own the property on the stated trusts. In the other, It's put in your sole name, subject to the charge.

In mesher order can the court order him to sign for a fixed rate ? Or to remortgage to extend the term to make payments cheaper? that's currently what's crippling me it's on svr. Also in mesher order who normally makes the mortgage payment is it then both or just me? Thank you