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Original poster

Separation - husband remaining on mortgage

39 replies

helen1122 · 12/05/2019 07:28

Hi, I’m after some advice or help where to find the best advice please.

My husband and I are separating and he will be moving out of our home. He has said that he will remain named on the mortgage to enable me to continue to live here with our daughter.

Whilst I can afford all of the household bills (inc mortgage) on my own salary (with money left at the end of each month) I wouldn’t meet the lenders criteria of salary multiples to enable me to get the mortgage changed into my sole name.

Although he has said he’ll remain on the mortgage I have no guarantee that he won’t change his mind in the future. Also, he will have a legal right to any profit should I choose to sell in the future (we only moved in/got the mortgage 6mths ago so it’s not like he’s paid into it for years)!

I wondered if I have any legal options available? Could I get something written by a solicitor for him to sign that says he will have no financial rights/gain should I choose to sell the property in the future despite him being named on the mortgage agreement?

I don’t suppose that I have a legal leg to stand on in terms of making him stay named on the mortgage and that if he changed his mind he could be removed?

Many thanks for any insight.

OP posts:

Original poster

helen1122 · 12/05/2019 07:45

I should have said, he will be paying the minimum maintenance (if that’s the right word) of £200 per month for my daughter with no other contribution towards the mortgage/ bills. I want to remain in the property for various reasons but just can’t unless he remains named on the mortgage.

OP posts:

Treacletoots · 12/05/2019 07:54

By remaining on the mortgage he'll also retain a right to any equity in the property until he's removed.

If he's keeping his name on, you want him to pay half, otherwise this is a disaster waiting to happen. What will he do when he wants to buy a new house?

Sorry OP you really need to consult a solicitor on this.

Itsallchange · 12/05/2019 07:54

you are best to seek advice from a solicitor you can normally get 30 mins free advice x

StrongerThanIThought76 · 12/05/2019 07:56

I don't mean to burst your bubble. But if you can't afford to live there by your own means, it might need to be sold. Him staying on the mortgage - jointly and individually responsible for the payments each month if you don't pay - WILL severely restrict his ability to afford another place to live. Most lenders/landlords will take that mortgage liability out of his available income.

You need legal and financial advice. If he stays on the mortgage he could well argue that this limited his own potential to gain from property investment and claim equity on your home.

Please do some research op - some lenders (mine is Newcastle b/soc) will take into account tax credits and CMS maintenance agreements as income. You might be surprised that you can take it on yourself

SimonJT · 12/05/2019 07:58

I’m on an exs mortgage as despite being able to afford to pay it and providing all of the deposit, his income isn’t regular so we got a joint mortgage so he could buy somewhere.

We did however make sure to protect ourselves, I recently bought a flat and per our agreement he paid the stamp duty due to it technically being a second home.

Redtartanshoes · 12/05/2019 07:59

I don’t think he can just have his bake removed from the mortgage, even if he wanted to as you’ve said you wouldn’t be able to have it in your name. He could possibly force the sale of the house though. It’s not an ideal situation as he won’t be able to get another mortgage else where while he is still in yours... and circumstances change a lot.

Some mortgage lenders will take the maintainace paid into consideration when deciding on amounts available... are you far off being able to get it do you think?

Tbh you need proper legal advice. While you could get something that says he has no legal interest in the property for today onwards if he met someone else and wanted to buy, or similarly if you met someone and moved them in then things would change pretty quickly and you’d be in a wobbly position. It’s best to get full and final settlement as soon as possible, a clean break, so that each party is completely independent of the other.

Legal advice and go see your mortgage provider.

LemonTT · 12/05/2019 08:02

All cases are different and you need to see a solicitor. It will be all part of an agreement you both reach that splits assets when you divorce. If he remains on a mortgage then he will retain an interest in the home and have liabilities and costs. If you do this, get it legally agreed and do consider other options.

You are right that once he gets advice, good and bad, he will change his mind.

mikado1 · 12/05/2019 08:03

I would speak to a solicitor and your bank manager to see what's possible. Has childcare reduced since taking out mortgage, can you rent a room out? These gains could be taken into account. For now it seems smoother to leave him on but obviously it's messy long term. If he's very reasonable perhaps there is a legal agreement you can put together.

MarieG10 · 12/05/2019 08:05

I think you can deal with the equity issue in the house if you address it in the consent order or separation agreement. But as another poster said, it may restrict his ability to get another mortgage so he may not be happy doing this once he realises the implications

Legal advice required I guess

Everytimeref · 12/05/2019 08:07

The situation you requesting would only happen if it is the only way the children can remain homed and you would be expected to be able to afford to stay there. Your STBX would be entitled to a share despite him not contributing to the mortgage. His share of the mortgage would be paid by you as this would considered to be payment in lieu of rent.

Shouldbedoing · 12/05/2019 08:12

I used a mortgage broker to find me a mortgage that took into account tax credits and maintenance plus a small self employed income. Ended up with a Santander mortgage.

MQv2 · 12/05/2019 08:14

So you want him to retain all of the legal responsibilities but forego all of the rights

Seems reasonable

magoria · 12/05/2019 08:17

This is a tricky one.

If he stays on the mortgage but not living at the property you are sort of paying half the mortgage plus half to him for rent to live there alone. Your rent to him is his half of the mortgage payment.

If it is a very new mortgage like you say it is crazy for him to stay tied into it for the next 20+ years affecting his ability to move on.

It could get messy when either of you meet someone else.

If you default the mortgage company will come after him for payment and he will also be stuck with a rent contract he has to pay. If he is lucky to earn enough money to pass credit checks for mortgage and rent in the first place.

MissMalice · 12/05/2019 08:19

Definitely see a solicitor. You also need to consider what happens if either one of you dies - is the property held as joint tenants? Also what happens if either of you remarry? Or remarry and then divorce - if he remarries and owns part of your property, his new spouse may have a claim on your property.
Definitely a question for a legal professional with full view of the facts.

ohyesohyessyyesyes · 12/05/2019 08:20

Hi. I thought I’d chip in because I did this for approx 3 years after separation.
Ex moved out but kept his name on the mortgage. That, as someone already said, meant he had a right to any profit made.
It wasn’t great tbh because the house needed doing up a bit. It was hard to come to an agreement about this and of course, ex didn’t really want to spend money on it as he didn’t live there. This led to some difficult discussions about what was necessary.
Far far worse than that though were the dynamics of our relationship during this time. I needed to see him and involve him far more than I wanted to die to house issues. Also, he kept a key and on occasions used it to access the house. It was a nightmare.
Eventually we sold it and, whilst I am now in a flat with 2 kids, we are all in a much better place mentally and emotionally. I am so pleased to finally be able to be as far away emotionally from him as possible, even though he lived 10 minutes up the road.
Based on my experience, I would really advise against keeping your ex-p on the mortgage.

ohyesohyessyyesyes · 12/05/2019 08:22

Unfortunate typo:
wanted to die = wanted to, due

Shouldbedoing · 12/05/2019 08:35

Even if the remainder of the mortgage years passed without any difficulty, he's effectively got a £200 pcm savings plan that matures to half a house.

Sunshineandflipflops · 12/05/2019 09:22

Hi Op
I am in a very similar situation and actually went to get legal advice on this last week.

Basically, I won’t be able to keep the house for me and the kids on my salary (as I went part time when we had kids while his salary rose and rose...)

If we sell, I can’t really afford anything big enough for me and the kids on my own so would have to rent. He already rents a house at the moment and is still on this mortgage. We are due to start divorce proceedings in a few months so I asked him what his thoughts were re: the house and he said he is not going to force me to sell so I think he will stay on the mortgage until my youngest is 18-ish (they are 11 now).

It’s not what solicitor’s would advise at it does prevent the other party taking on another mortgage but the alternative is us both renting so it makes more sense for us to bithbstay on the property ladder in some way. He will get his share of the equity when we sell (or before if my situation changes) and I don’t plan on spending silly amounts on the house in that time...just normal maintenance.

I will want to get something in writing though as although I am sure he won’t change his mind, I need security. He had an affair and I think the guilt from that is driving things a bit now but it works in mine and the kids favour.

Original poster

helen1122 · 12/05/2019 11:28

Thanks for the replies. To clarify, I don’t need the £200 to pay towards any household bills. I can pay everything and will have over £1k left of “disposable” income each month afterwards. Thankfully I’m in this position or the whole situation could be a whole lot worse!

My trouble is that lenders tend to work on salary multiples rather than disposable income. We are 6mths into a 25yr term (fixed rate for 5yrs).

Currently as he is the one deciding to walk away after 20yrs of marriage he is acting like dad of the year telling me that I can have the house and we don’t need to sell and that he will remain on the mortgage. Given the way he was clearly feeling about me/our marriage we shouldn’t have purchased in the first place but we can’t go back in time now....

I’m worried if I talk to the mortgage lender it could influence the current deal I have with them? Surely if I can afford it and he agrees to stay on the mortgage the lender can’t withdraw the mortgage though?

I have discussed with him the fact that it will affect his ability to get another mortgage for the time he remains on this one, his response was that I could downsize in the future. For now I suppose I need to take his word for it.

In terms of legal advice, what’s the best way to find a solicitor? I can’t exactly ask for recommendations, no one knows we are separating yet as we plan to tell our daughter next weekend.

He has found a flat to rent and will move out of the home at the start/middle of June.

Thanks again for the replies.

OP posts:

cstaff · 12/05/2019 11:41

It is in the bank's interest to have you both named on the mortgage as if anything goes wrong like losing your job they have 2 people to chase to repay rather than 1. And if this mortgage was only drawn up 6 months ago they are under no obligation to change it.

crappyday2018 · 12/05/2019 11:50

See a solicitor. I believe there is something called a 'Declaration of Trust' when you are tenants in common (don't quote me on this). I have no idea if you can do this now or not but it would clarify what portion of the home you both own. You could ensure that you have a much higher proportion than he does (see as you're paying the mortgage). It would also be worth having the house valued so you know how much the house is worth when he stopped paying the mortgage.
Please see a solicitor though, just google solicitors in your area - there will be plenty.

LemonTT · 12/05/2019 12:01

Having £1000 left over after bills sounds a lot but with a child you will living quite frugally. That’s why you probably can’t afford a mortgage in the eyes of the bank.

The bottom line is that he will have a legal and financial interest in the house. Which which grow. Neither of you sound young so when you do sell up it is unlikely you will be able to have enough earning years before retirement to buy Him out or afford a similar property. That is an issue you need to address. Both of you need to address it and face up to it. Otherwise this apparent goodwill will quickly turn to bitter acrimony. Basically after his first visit to a solicitor.

It is also worth remembering that neither of you can legally negotiate away responsibilities for CMS. He will always be legally liable no matter what you try to agree informally.

Original poster

helen1122 · 12/05/2019 17:44

Thanks for the further replies. I’m going to contact some solicitors tomorrow and make an appointment.

OP posts:

topoftheworld1 · 12/05/2019 23:44

Hi,

I am in a very similar situation to you.

From what I've read you can get your ex to sign something called a Deed of Trust which will mean he will no longer be entitled to a financial stake in the house.

Best of luck x

crappyday2018 · 13/05/2019 10:10

@topoftheworld1 yes I think deed of trust is what I actually meant (not declaration of trust) so this sounds like a route to investigate!

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