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Ask Clare Your Own Question

Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33942
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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Own a house with 7 years left to pay on Mortage. Husband has

Customer Question

Own a house with 7 years left to pay on Mortage. Husband has moved into rented property and I am now responsible . I can afford it and husband said as he paying rent I pay mortage and stay. Where do I stand legally please
Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 years ago.

Thank you question.

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 and are there any minor children involved?
Clare
Customer: replied 2 years ago.

House worth £150,000

Outstanding mortgage £36,000 comprising of £30,000 repayment and £6,000 endowment.

The £6000 is a shortfall and needs to be paid from savings in 7 years.

Husbands income £20,000 per year

My income £30,000 per year

No minor children involved

Customer: replied 2 years ago.

When should I expect a reply please?

Expert:  Clare replied 2 years ago.

My apologies delay
How much does a one bedroom property in the same general area cost to buy?
Clare
Customer: replied 2 years ago.

one bedroom apartments not available in my area but a two bedroom property close by is £30,000 up to £45,000

Customer: replied 2 years ago.

I maybe should have told you that my husband is committing adultery incase that is important.

Expert:  Clare replied 2 years ago.

So the house could be sold and you would have more than enough to purchase an alternative property?
Could you raise extra capital to buy your ex out?
Clare
Customer: replied 2 years ago.

Selling the house is most definitely not something I want to do. I have lived here years and I most assuredly do not want to move from a four bedroom house to a small apartment . At this stage my husband says he is happy to stay in the house and has no wish to cause disruption. Now that this option is out of the way can you please advise on my other options.

Raising capital would be difficult at this moment as my disposable income is now having to go into the running of the house.

Please also answer these questions;

Does the fact that I will pay 7 years of the mortgage affect his share of the property? Does the fact that he is committing adultery have any bearing ?

Thank you

Expert:  Clare replied 2 years ago.

The fact that he has committed adultery makes no difference to the eventual settlement I am afraid - although if he is feeling guilty it may mean that he will agree a more advantageous settlement if you resolve matter sno - unfortunately the guilt tends to rub off which makes now the best time to agree a settlement.
the fact that you will be paying of the last £36,000 of the mortgage alone IS something that should be taken into account and means that you should be given credit extra £18,000 when the proceeds are eventually divided
My major concern on your behalf is that at some point he will wish to realise his capital - and given the amounts involved he will be able to show the court that if the house was sold you would have ample funds with which to rehouse yourself.
A signed Separation Agreement now could set a future date of the equity = possibly at a time when equity release could secure your future in the property
Please ask if you need further details
Clare
Customer: replied 2 years ago.

Thank-you Can you please explain what equity release is?

Expert:  Clare replied 2 years ago.

You can read more here
https://www.moneyadviceservice.org.uk/en/articles/equity-release
It has many draw acks - but I have had clients use it to allow them to remain in their home
Clare
Customer: replied 2 years ago.

Should I get the house valued now?

reason being that if in 7 years I decide to buy him out , can it be at the value the property was when he left and I took on to finish paying mortgage.

Customer: replied 2 years ago.

Is my Husband free to come back in to the house at any stage ?

Expert:  Clare replied 2 years ago.

You can certainly value it now - but usually the value used is the value at the time of sale as you have had the benefit of living in the property until then
I am afraid that as a joint owner of the property he remains free to return at any time
Clare
Customer: replied 2 years ago.

Thanks I am nearly finished my questions and thank you so far. To prevent him coming back what do I need to do ?

Expert:  Clare replied 2 years ago.

I am afraid that there either needs to be a Court Order within divorce proceedings - or you need to have a written agreement with him that you will have sole use of the house
Clare
Customer: replied 2 years ago.

My Husband has a pension with Prudential which he said he can no longer afford to pay into. I have contacted the Prudential and they say they will pay out 25% of the value now and the remainder monthly. Is it legal to have this split in two?

The pension was paid from our joint account although it was only in his name.

Secondly Can I insist he pay half of the mortgage as long as he remains joint owner ?

Expert:  Clare replied 2 years ago.

If your ex agrees to the split then all is well - if not then it can only be achieved by way of a Pension Sharing Order as part of the Financial negotiations.
Clare
Customer: replied 2 years ago.

I am nearly finished with my questions Please just advise me please I am entitled to 50% of my mothers house when she dies. I am named in her will along with my brother. Does my husband have any claim to this?

How much approx would I expect to pay divorce?

Expert:  Clare replied 2 years ago.

Assuming that she is still alive at the time of your divorce then your husband has no claim on it at all.
If she dies after your separation but before your divorce then the Court will take your inheritance into account - but it is unlikely that that you would have to share it - but it does mean that any split on the matrimonial home would be a straight 50/50 split
Clare
Customer: replied 2 years ago.

Can you advise me what the approx cost of a divorce would be

Expert:  Clare replied 2 years ago.

the Court fees come to £460 in total - how much you pay the solicitor will depend on the solicitor that you choose - but to simply end the marriage (not deal with the financial aspects) I would expect to pay between £500 and £750 plus VAT and Court fees
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33942
Experience: I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
Clare and other Family Law Specialists are ready to help you
Customer: replied 2 years ago.

You have been most helpful and I thank-you . I will rate you as excellent service.

Regards

Elizabeth

Expert:  Clare replied 2 years ago.

You are most welcome - I hope that all goes well
Clare

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