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Ask Clare Your Own Question
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34106
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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Both our names are ***** ***** mortgage but I am the one who pays

Resolved Question:

Both our names are ***** ***** mortgage but I am the one who pays it. We bought 13 years ago Our relationship has ended. I want to move on. Two children 13 and 12 are a result of the relationship. We are not married.
Do I just walk away and have the house taken by the building society and lose most of the capital?
What are my options
Submitted: 3 years ago.
Category: Family Law
Expert:  Clare replied 3 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
How much is the house worth and how much is outstanding on the mortgage?
What income do you each have?
Clare
Customer: replied 3 years ago.

Hi Clare,


The house is worth £200k and there is £90k outstanding on the mortgage.


Jan earns £5k I have just posted a loss for the year being self employed.


Dave.


 

Expert:  Clare replied 3 years ago.
Hi
How much does a cheaper three bedroom property in the same general area cost to buy.
How does you red propose to cover the mortgage?
Clare
Customer: replied 3 years ago.

A cheap 3 bed property in this area would cost approx. £110.


Struggling to pay mortgage at the moment.


Dave

Expert:  Clare replied 3 years ago.
Hi
So If the house was sold you would be able to purchase a mortgage free property for your ex and the children to live in?
Clare
Customer: replied 3 years ago.

Hi,


What happens when the children reach 18?


Does my ex keep the house for herself?


Dave.

Expert:  Clare replied 3 years ago.
Hi
Under Schedule 1 of the Children Act you are under a duty to help you house the children until they are 18 - and at that point the house will have to be sold and the proceeds divided equally between you.
If there is sufficient equity in the current property to allow for a sale and the purchase of another mortgage free property then this is what will happen
I hope that this is of assistance - please ask if you need further details
Clare
Customer: replied 3 years ago.

I totally agree with housing the children until they are 18. What worries me is if at that point the ex refuses to sell the property that she will have been living in for the last 6 years? I effectively would be making her homeless, how would the law look upon this.


Dave

Expert:  Clare replied 3 years ago.
Hi
That is fine - legally if one joint owner wishes to force a sale they are entitled to do so unless there are minor children involved (or they were married when other rules apply
Clare
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