Husband guaranteed his friends mortgage so I want to separate.

[HoveactuallyBrighton]

Exactly what the thread title says.
Our home's at risk if his friend can't pay the mortgage.

What happens to the mortgage guarantee when we separate?

The departing point is 50/50, then the court would consider the circumstances. But saying that a wife has no right to any part of the marital home because she is not in the deeds is what is an utter lie.

She has not mentioned anything about signing a pre nup, and even those are not necessarily written in stone.

When DH and I bought our home, i was a SAHM with no income at all; I’m still on the deeds and the mortgage. But there again, DH isn’t a cunt

I never said that.

I said there's no entitlement to 50/50, which there isn't. It's misleading when posters suggest there is.

More fool you then.
If I had given birth to & raised his children, facilitated his career at the expense of mine then he'd have to lick My boots.

If you had checked the quote history before jumping the gun you would have noticed that I was replying to some uninformed person who told the OP she had no right to the house as not on the deeds.

Quite.

My ex tried to remortgage to cover his debts. All unknown to me. A letter from me to the mortgage company stating I knew nothing of this, and did not consent, soon stopped his plans.

Then he became an ex😁

The irony lol

It was you who should have checked the quote history.

My reply was to Muskrat who stated it was 50/50. You then replied to me first. Perhaps be more careful before you accuse people of jumping the gun when it's your own error.

Yes, definitely seek to have your name on the deeds so that you can veto foolish actions like this.

The fact that the friend was assessed by a financial institution for the bridging loan and turned down indicates it’s not a great idea to “just trust” DH and his friends. It was deemed as too risky for the bank, even as ana organisation that can afford to take risks. The fact you weren’t even informed by DH and friend does not bode well.

I only know about guarantors from having been a landlord many years ago.
There was no charge against the landlord’s property.
There was a contract drawn up by the letting agent that said should the tenant fail to pay their rent they could claim the rent from the guarantor. From memory it was the rent only, if the tenant trashed the flat that didn’t land at the guarantor’s door. The guarantor signed it and it was witnessed.
There was no expiry date on the agreement, it ran for the length of the tenancy so I expect the same will apply to the length of the mortgage.
Your husband must have signed an agreement and you need to see this. Then you’ll know the legal position and can go from there.

If the husband had wanted to stop op having rights to a chunk of the house, wouldn’t he have had her sign a pre and post nup?

Also, isn’t a guarantee for a loan based on chasing the guarantor with bailiffs and not an actual charge on the house?

I suppose we have different life experiences and my perspective is skewed by the fact that my DH after 12 years of me looking after him was outraged by me getting (accidentally) pregnant and treated me like a slag that had tried to ruin his life. And partners after that milked me dry financially. And I am by no means an unusual case. There aren't a lot of good men around. In OP's position, I'd be thankful for what he had given me rather than keeping a beady eye on the prize. She sounds very keen to cut all ties and cash in; maybe there's a back story.

There you go, he won't put you on the deeds. So he's an arsehole and he doesn't value your contribution. I think you should definitely separate.

I'm safe and upset.
I feel gaslit cos husband and friend are trying to make me think I'm unreasonable and irrational for being angry about the guarantee.
And call me selfish for thinking I have any claim on our home after 12 years of marriage.
He bought it before we met and told me he could afford the mortgage on his own.

So your next step is to jump to how much money you could make if you split up?

No, not to make money but money to live on cos he's stupid guaranteeing a friends mortgage and I've lost 10 years of my income being a mum and housekeeper.

This is so sad to read. Your husband has no respect for you. He does not value you, nor does he see you as an equal. He got you to stop working to be a SAHM, leaving you without an income, yet won't add you to the deeds to your home. This is so disrespectful.

Please ignore the people who think you are just after money. You are rightfully after what you are entitled to as a mother raising children, to put a roof over their heads, after your husband has left you without an income for the past decade. I'm not sure why people are not getting the vulnerable position he has put you in.

He sounds awful OP, I really hope you get a good solicitor and come out of this with what you deserve. He is so disrespectful.

I think if he has made any kind of guarantee which affects your rights in your own property offering it as security for the friend’s mortgage, he needs your signature to ratify the transaction. I think you need to clarify your legal position immediately.

Anyone, but anyone who stands guarantor for a loan are a fool - loans that require a guarantor are offered (often by the rougher end of the finance industry) to people who don't have anything to put up as security or have poor credit ratings - as guarantor you get nothing out of it and stand to loose, whether it be a few hundred quid or your home - its reckless behaviour, you might as well lend them the money yourself, you take the same risks with less control.

You have my full sympathy. I would have reacted the same as you have done and would have an appointment with a solicitor booked. He’s an inconsiderate, thoughtless, selfish knob. You’re supposed to be a financial unit. He has breached that.

So your husband bought the house you live in before you got together ??

Let’s rephrase that another way shall we? To avoid being legally jointly responsible for potential debts from a foolish choice, due to being bound via a marriage contract.
Makes sense now, doesn’t it? If the bank rejected it, then it’s a risky decision. The poster had a right to have a veto of this decision due to the financial implications to her.

She doesn’t have to ‘make’ the money, it’s half hers already 🙄

Have I missed something? He is using his equity, to which OP has contributed zero, to help a friend in a difficult situation, and she is asking all about what she's entitled to when they split because of this. And this sounds fair to everyone?

Sorry that should say “ no charge against the guarantor’s property”

I think if you decide to divorce your husband’s decision to be a guarantor is a separate issue to you claiming 50% of the marital assets.

Wish you all the best for the future.

I didnt think you could guarantee a mortgage.