Mesher order and changes to mortgage

[northwestcoast]

Close to signing a Mesher order allowing children and I to remain in family home. Mortgage will go solely in my name and I intend to extend mortgage terms from current 13 years to 23 years in order to reduce monthly payments. Ex is not willing to sign of on Mesher order as he is saying this will greatly reduce the equity in the property once a selling trigger point is reached. Neither of us have any savings, pensions very similar, all assets are in the property. Anyone have experience with Mesher Orders and changing mortgage terms? Thank you.

I don't. But I'm not sure I follow his logic. He currently has 50% of the equity. Let's say that's 10k. He is now going to stop paying into it. So whether you pay 200 or 800 in a month...the money HE put in pre split remains 10k , doesnt it?

I'm not a legal eagle though. Hope someone helpful comes alone soon!

Thanks Dirtybadger. His argument is that he would prefer to have a clean break now, however by agreeing to a Mesher order he is giving up the opportunity to invest his share for at least 7 years. The agreement will be a % share of equity when property is sold so he wants the loan against the property to be paid at the current rate.

What does your solicitor say?

I just wrote on another thread that the court ordered the sale of the house in my case and I had two small children.

The property is still jointly owned under a Mesher Order until the trigger points have been reached regardless of who is paying the mortgage. His argument will be that by extending the mortgage terms you are reducing the likely equity in the property that will be divided upon the trigger of the sale (as you are paying less in per month).

I'd strongly suggest you take some legal advice on how to respond to this but I can see his reasoning.