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My husband is taking out a mortgage in his sole name and I have to sign a consent to mortgage. As his wife what are my rights to the property? If he defaults on payment am I to understand the lender cannot legally come to me for any default payment?
Also in the future if he decides he doesn't want to be married to me or tries to evict me and our 3yr old son out of the property what are my rights?
We have been encouraged to make a will to ensure that in the event of his untimely death my son and i will be taken care of.
I am being asked to sign forms that i am unsure about.
As yet I haven't seen the forms but it is an unusual purchase which has family implications.
Basically we are buying my husband's grandmothers house for below market value. ie value is £350k and the purchase is £223k. This is being done to fund her care in a residential care home.
I am 15 yrs older than my husband and to include me on the mortgage would mean substantial monthly repayments so in the first instance the mortgage will be taken out in my husband's sole name. If in the future when our son goes to school and i take on full time work we would look to re mortgage to include me.
My husband has suggested that i sign forms so that i may not "steal" the family house should we break up.
Could you clarify to me the spousal rights i have should we separate?
I am also putting in £30k of my own money (inherited from my grandmother) Can this be protected in any way.
Obviously I don't plan on us separating but I would like to be clear in any eventuality.
Sorry if this is confusing
Still waiting for the family law expert to contact me.
Sorry if I am being impatient but I am unaware of the expected time frames.