Helping my sister financially

[MeeMeeMoo]

My sister is going through a divorce. She will not be able to get a mortgage for the house she shared with her husband as well as giving him his 50k. She can do one or the other. I don’t want her to lose her house, other houses she can afford are awful in our area and I don’t want the kids going through the upheaval.
We can’t raise 50k as a family, none of us have it. However I could potentially afford to go in with her mortgage. I have my own mortgage though. Can I release 50k from my mortgage to go in with her? Does it work that way? My house only has 112k mortgage and we could borrow up to 150k for a house.
Is this something that can be done? I’m so lost with how to help her right now.

I guess you could always extend your mortgage and say it's for home improvements or something then lend it to her. otherwise I think yes you could just borrow against your home but it might depend what equity you have and your earnings .

The DC need to be housed her Ex May have to wait for his £50k!!! Where are they in their financial settlement?

Yes she needs to speak to a soliciter . It may be that the house can wait to be sold until the youngest turns 18.

May I ask, why is she required to give him his £50k now? My solicitor said I had a choice - pay him off straight away(ish), OR get a 'mesher order' which put off that event until the youngest was 18 or I remarried.

Staying in the house is an option until kids are 18. However, her earning power is not going to increase dramatically and she has 10years until they are 18. In 10years she will still need a 3hed house as the kids won’t have left home and will still need a mortgage but will have 10years less time to pay it off over. Plus the stress of having to deal with him again when her life will have moved on. She is extremely unlikely to marry again after the turn of events. I just want her to be sorted now I don’t want it hanging over her head and being a problem for future her. There is a hold up for the financial side for a few legal reasons I can’t go into. We are currently looking at options before putting anything to him. Sigh.

Also she can’t afford the current mortgage and would need his permission to extend the term to make it more manageable and he may not give that. I just want her free of him.

Some of this will be decided by the court though. The harsh reality may be that she needs to sell up and rent or look at shared ownership.

Her house is not affordable. One of the biggest mistakes women make in divorce is trying to hang onto a house they cannot afford. What you propose is not and in no way a financially sound decision for you, it's a very, very, very bad idea.

I know you feel for her and the kids, but kids go through this sort of upheaval all the time and cope. When they are 18 they will need to contribute to living costs to live there same way they'd have to pay a landlord, many young adults don't have a free place to live at home as their parents cannot afford it. Besides that is years away and this is now.

I know she can’t afford it, that’s why I’m trying to find a solution. I think she would be better off selling and buying a cheaper house than leaving it for 10years and having to solve the problem then. He has shattered our lives and she is only just becoming stronger. I think we need to just accept that she will need to sell and buy a house she can afford. Thanks for the perspective.