Splitting up and not paying mortgage

[Jackit2013]

Hello,

My wife wants to split up, I don't, I'm not going to go into the details of that. But we have a mortgage, 2 kids. She is moving out and says she won't pay towards mortgage cause she has rent to pay elsewhere. While I can just about afford it, it will leave me financially very very tight. In a year or so if we have not got back together it will probably mean we sell the house. So if she has not be contributing to the mortgage, do I have any rights to the equity gained for the time she is not contributing?

Joint debt or not, the party that leaves is not legally obliged to pay. If you don’t pay, they will chase them for the debt but then you end up with a bad credit rating as well.

In a two children/ divorce situation, fussing about the equity gained in one year of paying the mortgage solo is a waste of time.

It’s like painstakingly splitting a bill to the lasts penny whilst your money is still coming from the same pot.

Assume she’s not coming back and concentrate on what the arrangements for children are. From that, work out equity split and any maintenance.

Don’t worry about pettifogging increments of anything.

In the current climate I think I wouldn't worry about the equity between now and when you sell, it's not likely to increase very much.

My exH refused to pay the mortgage the moment he walked out because "it was my decision" I also know if I'd pushed it he would have simply moved back in and made my life hell so I sucked it up until I could complete the transfer of equity.

The reality is, you néed to start taking steps for your future, including working out of you need to move rather than sitting in limbo waiting for her to change her mind, and even is she did, would you want her back after all this?

I would get it sorted now, whilst things are reasonable and amicable - solicitor should be able to sort the details quickly for you both to sign an agreed and fair understanding of how things will work in the future.

You're thinking of a year or so into the future but it may be the case that you choose to stay for several years and then equity situation may will be different.

What @TottieandMarchpane said - unless your house is going to go up in value by 10s of thousands of pounds. Plus she’s right in that she will need to pay rent and her own bills . And presumably you want her living somewhere decent for the DC to stay.

This is the harsh reality of splitting up - 2 homes, 2 sets of bills etc. Don’t get so fixated on one aspect that you end up involving court and spending thousands on fees - own goal.

It’s totally shit but seeing the bigger picture will help you both get through it.

I know for unmarried couples anything you pay after she leaves and doesn't pay is taken into account when equity is divided. I imagine it's the same for married couples. You must contact the mortgage provider and change the names on the mortgage payment. I think this means you have to apply for a new mortgage though based on your salary only. Either way she needs to come off the mortgage if she is not paying into it and the mortgage company informed. It's complicated though, and the children's residence is to be considered etc.

Who will the children be living with, because presumably one or other of you will also need to pay child maintenance too won't you? Unless 50/50.

If the children are staying with you, and she pays maintenance, will that make the mortgage more affordable for you op?

If they move out, with your wife, can you afford to pay maintenance and the mortgage?

My ex pays nothing towards our joint mortgage of £600 a month or towards our joint debts of £150 a month on a DMP. He pays CMS of £70 pw and think that's fair.......my solicitor doesn't. Mortgage co don't care so long as they get paid. If less than min payment is made it'll mess up both our credit and it's not worth the hassle

Best speak to a solicitor. Most will give a free 30 min consultation and use it was for your questions.

Continuing to pay doesn't mean that you will automatically get more. Once you get to the point of divorce and completing the financial section is based on joint assets and liabilities and more then house will be included.

You need to keep paying to keep the asset. Can you talk to your mortgage provider and see if you can go interest only while the house is sold etc?

My ex refused to pay the mortgage and emigrated without telling me until the day before.

I'd already moved out 18 months ago.

It was a joint mortgage.

My solicitor and the bank advised as it was joint regardless of who paid or didn't pay they would come after both of us for the debt as in joint names. It didn't make a difference if I paid my half, if it wasn't paid in full, the bad debt/credit would also be jointly mine.

Luckily it got sold in three months as the bank gave me three months to sell with a three month break in the mortgage payments (massive interest accruing daily).