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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33821
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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I have just got my absolute through and now have until 1st

Resolved Question:

I have just got my absolute through and now have until 1st April to honour the financial order. I have since be declined the mortgage I have been promised and now find myself unable to release my X husbands name from the mortgage or make the lump sum payment we agreed... what can I do?
Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 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.
What are the exact terms of the Order and may I ask what made you think you could achieve this?
Clare
Customer: replied 2 years ago.
The terms are that I pay my x husband £30,000 lump sum and I take on the existing mortgage which is a very low sum, this in turn releases him from the mortgage and in return he signs the house over to me. I believed this was possible because the mortgage adviser I had spoken with on several occasions lead me to believe that my getting a mortgage wouldn't be a problem! My application was turned down because I had one late payment on my next directory account in January despite this, my Expedian credit record still stands in the excellent rating ratio.
Expert:  Clare replied 2 years ago.
Hi
Have you looked for alternative lenders?
Clare
Customer: replied 2 years ago.
I am currently working with two independent brokers in hope that they can help.. What I'm really asking you is what can I do should the worst happen and the brokers can't help me? I will point out that my X and I are in very good speaking terms and we have been amicable thought the divorce process.I should also probably point out that I have my 13yr old son living with me.
Expert:  Clare replied 2 years ago.
Hi
How much is the house worth and how much is outstanding on the mortgage?
Clare
Customer: replied 2 years ago.
worth £225,000, out standing balance £27,000
Expert:  Clare replied 2 years ago.
Hi Amanda
I can see why this should not have been a problem.
I have to ask - is there any family help available (exploring all avenues here)
Clare
Customer: replied 2 years ago.
my parents have said they will pay the lump some as a last resort but this still doesn't allow me to release my x from the mortgage and for him to forfill his agreement to me by signing the house over to me.
Should my parents pay the lump sum, would an additional contract need to drawn up to bind the final agreement re house?
Expert:  Clare replied 2 years ago.
Hi
Thank you for that
Who is your current lender?
Clare
Customer: replied 2 years ago.
Santander.. who also won't honour the mortgage as a single applicant and remove my x husbands name from the mortgage. Their reason is purely that the mortgage was taken out as a joint policy so there for it must stay as one.. when speaking with them they were trying to count business expenses twice I.e car ect although these have already been taken into account and reflect my yearly net income.. My yearly income is £20,000.
I have been paying this mortgage on my own for 5 years and very recently payed a £3000 lump sum off.
I feel there, as I'm currently on 1.25% it isn't in their best business interests to keep me as a customer as they are making very little money from the loan.
Expert:  Clare replied 2 years ago.
Hi
I suspect that you are correct and that you will in fact find it relatively easy to remortgage elsewhere
How much would a cheaper two bedroom property in the same school area cost to buy?
Clare
Customer: replied 2 years ago.
They are all of a similar price bracket, I live in Oxfordshire!So, going back to my original question!!.. if all else fails and I am unable to get a mortgage and honour my court order at this time, where do I stand legally? can I apply for an extension on the court order? ect ect.. what can I expect to happen? do the courts check you have honoured the order on time?
Expert:  Clare replied 2 years ago.
Hi
The Court does nothing of its own volition so the only person that you need to worry about is your ex.
Only he can actually start any enforcement action.
Your starting point is to discuss the matter with him and to try and agree some alternative arrangements - it could be that if he has the lump sum he would be willing to remain on the mortgage at least for a few years longer
If relations sour and the matter does go back to Court then you will face the problem that you agreed to the Order BUT the fact remains that the priority for the Family Court are the housing needs of your son - so you will be able to remain until he is 18 - but it may mean that your ex will get a larger share of the equity
I hope that this is of assistance - please ask if you need further details
Clare
Customer: replied 2 years ago.
Thank you for this advice! This has put my mind at rest and I know how to move forward should the worst unravel re mortgage difficulties. Luckily relations with my Ex remain very healthy. I was more concerned about mine/our position from a legal point of view, you have been able to explain this adequately.. Thanks again!
Amanda
Expert:  Clare replied 2 years ago.
H
You are most welcome - I hope all goes well
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33821
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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