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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33325
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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Left husband 12 months ago and now living with partner. My

Customer Question

Left husband 12 months ago and now living with partner.
My husband continues to live in the family home.
The family home is in joint names and there are 2 years left on the mortgage. It is an endowment mortgage and there are considerable terminal bonus’s projected.
I am continuing to make contributions towards the mortgage with an allowance for the fact that my husband is still living in the family home.
We have an 18 year old son who is in his second year at University. We jointly fund tuition and accommodation fee’s from University primarily with funds donated by my parents.
There is a need to ensure our son has a home when not at University.
My finances are completely separate bar the transfer I make each month to cover my agreed contribution towards the mortgage.
My husband continues to use our joint bank account as his main bank account. This account is an offset account with the mortgage. The overdraft on this account has risen from £12,000 to currently being at the overdraft limit of £17,000.
The family car which we shared has been sold by my husband. He has reluctantly agreed that my share of the proceeds is £2000 but states that he is not in a position to make any payment to me. From the proceeds of the car he has purchased an Audi convertible.
It was my intention to allow the mortgage to run to completion, which would coincide with our son finishing university.
I am concerned that:
1. my husband continues to live in excess of his income. That I may be jointly liable for the increased overdraft ( including payments to bookmakers!).
2. That my husband refuses to make a payment for the car proceeds.
3. If these problems are being experienced now then I anticipate difficulties in sharing the proceeds when the family home is sold.
I would appreciate any advice or suggestions resolve the current position.
Submitted: 3 years ago.
Category: Family Law
Expert:  Clare replied 3 years ago.

Clare :

Hi Thank you for your question.

Clare :

My name is Clare and I will do my best to help you but I need some further information first.

Clare :

How much is the house worth and how much is outstanding on the mortgage?

Clare :

How much is the Endowment policy worth?

JACUSTOMER-nw4lnhd2- :

Hi Clare

Clare :

hi

JACUSTOMER-nw4lnhd2- :

The house is worth approx £300K. I am not sure what the balance left on the mortgage is as my husband has all the papers. It has been running for 23 years.

Clare :

best guess?

JACUSTOMER-nw4lnhd2- :

It is an endowment mortgage so difficult to obtain a balance outstanding. The mortgage has been increased several times to cover additional spending on fund an extension. I think the monthly repayments are in the region of £800 and due to run until Nov 2015

Clare :

have you not seen a Statement?

Customer: replied 3 years ago.

My husband receives the statements and is reluctant to share them. Does the value outstanding on the mortgage have a major effect on the best way to proceed?

Customer: replied 3 years ago.
Relist: Answer came too late.
Expert:  Clare replied 3 years ago.
Hi
Yes because it goes to the heart of how safe it is to leave things as they are
You speak of the mortgage having been extended - but was the Endowment?
Are you certain there will not be a short fall?
There is no reason for you to pay the mortgage on a property that you are not living in - and not paying will not effect your interest in the proceeds of sale
If there is going to be ample equity in the property when it is sold then any extra overdraft can be reclaimed from the husbands share - but for safety the joint account should be frozen now to ensure that the position cannot deteriorate - especially with the figures still unclear.
When the time comes the starting point for division of all the assets is 50/50
I hope that this is of assistance - please ask if you need further details
Clare
Customer: replied 3 years ago.

Thank you.


Can I really stop making contributions to the mortgage and not affect my position or interest in the property?


There should be no shortfall on the mortgage - probably a surplus.


Should I be worried that the family car was sold and the proceeds not shared?


I suspect a seperation agreement may be a good short term solution?


Regards

Expert:  Clare replied 3 years ago.
Hi
The fact that he did not share the Car proceeds suggests that it is unlikely that he can be relied on to behave well when it comes to the final division and on that basis if no other it is essential that your partner gets full details of the amount outstanding on the mortgage and the current value of the endowments
If she is not living in the property then she doe snot have to pay towards the mortgage and it does not effect her claim to a full 50% share
A Separation Agreement would be one option - a financial order within Divorce Proceedings would be an enforceable one
Clare

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