Divorce and house

[Workitbabe]

Hi all. Bear with me, as this is long.

Stbxh and I in the process of divorce. He wants me to keep the house for the sake of our 2 children. Currently both our names are on the mortgage, but he is not paying anything - I pay half and my new partner pays half.

Understandably dh wants his name off the mortgage.

Not sure what to do. This is where it gets tricky. I don't think I earn enough to just have my name on the mortgage, and sadly my new partner is on a debt management pay back scheme (bloody ex partner never paid him back 40k after a failed business venture) and has a low credit rating, so will probably not be able to get a mortgage, even though he can well afford it.

So, any ideas what my options are??

My friend mentioned that when her friend was in the same boat, she had to get her Dad to act as a guarantor.

Any help would be greatly appreciated, as I am literally sick with worry.

Thanks

But if it isn't a joint mortgage (?), I'm not sure you would have had to sign? (not sure on that as perhaps he needed to declare anyone with an interest in the property)

It's perhaps not fair upthread to have called him a twat, although I'm suspicious.
But paying half the mortgage and bills and giving you a lump sum (depending on what it was) plus about half the house (albeit it sounds like he basically got cash out of the house whilst your equity is tied to the mortgaged part and all that entails) may have been fair settlement.

But if you're still faffing around with solicitors and money owed, it sounds like nothing has been finally signed off in a Consent Order? So he could stop paying half the bills and mortgage tomorrow - especially common when an ex moves their new partner in. One reason why higher equity in a clean break is often preferred.

I'm still about Mr £70K but end up in DMP over £40K. I mean this in the kindest way... but you missed some key financial stuff over this remortgage. Don't have the wool pulled over your eyes by someone in debt. Might be all very reasonable and easy to explain. But then again, might not. Tread carefully.

Thanks all. Just want to get this sorted out fairly and squarely. I am no money grabber by any means, but I just want fairness.

Oh I just saw he's been giving you £800 for the children and only reduced his mortgage payments by half when your boyfriend moved in.
He doesn't sound like he's definitely out to shaft you, tbh.

You might not have signed anything or remember discussing an amount. But you must have known when he bought a house so you really should have been asking how much then. Yes he should tell, but you should ask.

You've got £800 a month in maintenance, when 50/50 care doesn't entitle you to it, if I understand the new rules correctly.

Sadly I don't think it is a no-brainier for one party to give up work, given how often marriages fail

If you haven't worked in all that time and he's been on what, about £80K?, then your pension equivalent lump sum should be pretty sizeable. Unless he really hadn't bothered with one?
If you use that, plus include the £800 a month in your income (I think you can, for mortgage applications though maybe not all lenders) are you sure you can't take over the mortgage?
Much better to take it over yourself without your boyfriend anyway, if you can.

Agree about getting it sorted fairly.
Don't feel pressured about getting him off the mortgage.
It sounds like you have a case for a Mesher order, and frankly it's not about whether he'd like that.

I'd just be a bit careful about your solicitor. Obviously, if your interim lump was £5m I'm talking out of my arse here! But so far, it doesn't sound great. I don't mean he's shafted you. He pays maintenance, has been paying your bills, has given interim payment... If he wants to go in low, well - I would if I were him, as long as not to detriment of my kids. But it's your solicitor's job to tell him to jog on when it's too low, and advise you.
I don't think your solicitor is much good if you've come this far without having a clear understanding of what equity is, given it's a big part of what you were negotiating.

Am seeing a completely different solicitor from a different firm. The guy I saw has not returned my call or responded to my email.
To make it clear I have worked part time since both dd's turned 7 months so done my bit so to speak.
As I say I just want whats fair.
Would be great if they do take child maintenance into account re the mortgage.

www.savvywoman.co.uk/c8-pages/c8s2.php?art_id=1081

I don't know how up to date that is, but it gives a bank by bank list of policy whether they'll include maintenance. Not that they all say to include it, it must be court ordered or via CSA backed agreement.
So don't miss a trick getting that included in your Consent Order.

(even if you don't take on the mortgage now)

So he got £100k equity released on your joint mortgage and you never had to sign anything?

I do not recall signing anything no. Thanks for the link.

If you did not sign, then I suspect he has committed fraud. You might want to keep that up your sleeve if he "doesn't want" a Mesher order. Or you might want to report him, because that's pretty flipping bad!

How would I find out? I guess I just need to ask stbx for papers. I asked to see the papers from natwest as I needed to call them. Still not got them. We were with Intelligent Finance originally so not sure whether the remortgage took place then or when he moved it to NatWest.

Honestly, I'd go to your solicitor and talk about this.
I'm not an expert on mortgage applications, but it sounds to me like he has forged your signature.
I don't see how it could have been done without your signature - even if he remortgaged in his name only (presumably as he's by far the higher earner it could be approved on him only) you would have been signing to redeem the other mortgage.

Incidentally, my XH took over our old joint mortgage. Even though it was the same bank, it was treated as a new mortgage. As a result, when the old one was closed, a cheque for about £300 came back when they worked out the final numbers (just timing I think, overpaid interest from us). So there's a possibility he's pocketed something too.

And another thing to watch: we were Woolwich, and although it was a new mortgage application they let us keep the rate. This was important, because we were among those lucky enough to have fixed on a very favourable lifetime rate.
How are you going to feel (and afford it!) if you remortgage now and get told that your 2% is now 6%?
When you decide what is fair financially, don't forget to consider things like that.

I can't imagine that in the space if what, a year? He has remortgaged with IF, and then remortgaged again with Natwest.
I expect the remortgage was with Natwest.
Seriously - speak to your solicitor, this sounds like fraud.
But - are you SURE it was a joint mortgage before? Not just house in joint names, mortgage in his?

The reason I ask is that you're asking him for Natwest papers. Natwest should be writing to you regularly if you have a mortgage with them.
And as you earn only a small percentage of his salary, it seems logical that you would not have gone for joint mortgage in the first place.

I can tell you now, if he has committed fraud, his solicitor is not going to be impressed with him.

You need to tear up this financial agreement and start again, I think.

I still don't understand though how you knowingly let him go through a remortgage without ever expecting to sign anything
Or see some paperwork. Or know how much it was for.

Are you SURE it's a joint mortgage? Given that you agreed to him doing it, I'd be surprised if he'd do something so stupid as to forge your signature.

I've remortaged on a couple of properties, they ALWAYS needed a signature for both me and my DH as they were joint mortgages.

They need to see it because you are BOTH then liable for the payments.

Good luck with the other solicitor OP, sounds like your original one is shit!

They have def been a joint mortgage bith times. I have a letter from NatWest in both our names. I am sure I never signed anything tho. Will call them when I get home from work.

If you're just calling for paperwork, fine.
I would seriously talk to your solicitor before you give ANY hint to the bank that it was a fraudulent application.
If you want to blow him out of the water on that, do it in your own time. I'd imagine last thing you need right now is the bank calling the police.

See a solicitor.

Like the other poster, I am very concerned about your new partner earning 70K but being on a debt management plan. There is something very wrong there.

My gut feeling is that you are being taken for a second ride.

You really need to step up and learn about finances otherwise you are going to be shafted.

I would seriously talk to your solicitor before you give ANY hint to the bank that it was a fraudulent application.

This. If an institution like a bank realise they've really messed up it's not unknown for them to massage their records to make any problem from their side disappear.

You need a good solicitor. Also you need to get a grip on what's going on.

I'm glad it's not just me that is to a high earner being on a DMP. It happens, but it's definitely a
Tbh, my cynical side (which is over developed I know!) wonders if the poor credit rating claim is an attempt not to get dragged into your mortgage.
I hope he's paying his way now he's living with you. But again - I am a big cynic!

I can't see how if the mortgage is in joint names he could have increased it by this massive amount without your knowledge. It's quite a complicated situation as regards ownership of a second property and how much of that property you own. You certainly need a good solicitor to unravel this. The one you have doesn't sound much good if they're not replying.

It's not clear when she mailed the solicitor though.
But in general, you don't sound like a solicitor has ensured your understanding.

I am slightly in the position of your husband, in that I left the mortgaged FMH to buy a new place.

I made damn sure it was communicated to everyone that this was part of our agreement being carried out before final CO was sealed!

But it seems to me that he has effectively taken cash out of your property, whilst intending you to take on the mortgage.

So he takes £100K and owns a place outright, then you take on the equivalent equity in your house, but with the rest mortgaged.

He'll say "I took £100K" but over time you'll PAY maybe £120K!!!

Please get a solicitor to go through it with a fine tooth comb and who will take the time to explain anything you don't understand.

I searched your posts, I know that's considered bad form sometimes! But based on a previous thread (that I was on too!) you don't have 50/50 split. This is important. Don't say you do if you don't. If you are 50/50, you don't get msintenance, so you're fucked if he decides to stop paying the £800.
If he is 3 nights per week, I don't think your solicitor should have let you put 50/50 on the Childcare Arrangements form.
Personally, I'd get the £800 written into the CO too, with a comment that it is 4/3 days. Just to set up a paper trail of that agreement.

The main point is her house + kids.

So far, the Ex has been good in paying the mortgage + paying out maintenance.

There is some confusion about the mortgage. This needs clearing up ASAP. A divorce solicitor may not be able to help you with this.

If the mortgage was held in two names the OP has either forgotten she signed for the re-morg, or the OP's Ex has committed fraud, making him v bad.

If it was only in the OP's Ex name then he's been a dick. A dick operating legally but a dick.

Then there is the new partner with a 70K + DMP. This is very strange.

He either earns 70k but has a lot of ongoing commitments on his income.
Or he is lying about how his income and the OP is seeing £££££ rather than sense. The OP needs to have a serious sit down with the new BF and find out how much he earns, what debt he has and why, and what ongoing financial commitments he has.

Its is possible for someone on 70K to be a complete financial fuckwit but it is very, very, very rare.

A solicitor will not be able to sort out the above. The OP needs to pull her finger out and find out where she + the people around her stand financially. She cannot carry on with her head in her arse, expecting her divorce solitor to untangle her finances.

Well said hereandtherex
But a solicitor should stop her from accepting what sounds like a poor deal. And can check with a colleague on the repercussions of the possible fraudulent mortgage application.

Frankly, I'm aghast that the OP knew about the remortgage but never thought to ask "how much?" let alone asked where her paperwork was for signing.

I did ask stbxh about papers for remortgaging but seriously do not recall seeing them and signing them.
I will call NatWest tomorrow and see whats what.
Re new dp the debt management plan came in to play about 15 months ago. He is paying 750 a month to stepchange. As I say this has resulted in his credit rating being poor. I seriously do not see anything untoward going on financially.