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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33818
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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My partner and her Ex- Husband bought their property

Resolved Question:

Hello, my partner and her Ex- Husband bought their property for £210,000 in November 2005 on a 30 year repayment mortgage.
They Divorced in2006, with no financial settlement with regards ***** ***** house made at the time.
Her husband met the fixed rate mortgage payments of £1100 per month until leaving the property in September 2006.
The house remained in joint-name and my partner took on the mortgage payments and household bills from this point with her ex-husband making no further contributions.
My partner due to her low income and a child( now aged 11) from the marriage to support, had no option but to rent rooms in her house to cover the mortgage payments.
Due to unreliable tenants and spiralling childcare/cost of living expenses my partner accumalted debts and as a result fell into debt management(approximately £6000) which she currently pays £30 per month until 2030.
My Partner and I moved in together in April 2013. I have two children aged 9 and 12 from my marriage and am currently separated from their mother and will start divorce proceedings immimnently. My children stay with me on average three days per week.
I also have a property currently in joint name with my children`s mother.
My Partner`s ex-husband owns a two-bedroomed flat and has two further children with my partners Sister., He is now wanting to remove his name from the mortgage of my partner and receive a sum of money in order to purchase a larger property.
As no financial settlement could be agreed with my partner and ex-husband the matter will now be decided by the courts.
My partner has been asked to attend a court hearing on July 13th 2015 with regard to the financial settlement.
The current valuation of her property is £405,000
My Partners ex-husband also bought land in Mauritius(in his name only) at the time of her marriage.
Our intention is to remove my partners ex-husband name from the mortgage and add my name to it once my name is ***** ***** my mortgage I have in joint name from previous marriage.
Based on the information I have provided you please could you clarify the following:
1) How much could my partners ex-husband realistically expect to receive?
2) In any event could my partner be asked to sell the property in order to enable her ex-husband to receive a settlement.?, ( This is particularly concerning given theimpact it would have on the three children.
3) What implications could arise from my partner being in debt management at the time court proceedings commence?
4) If the debt of £6000 is repaid prior to court proceedings commencing I understand that it would take some time for my partners credit rating to be restored, might the court delay any payment to her ex-husband until she was in a position to obtain a mortage with me?
5) In the event that my own divorce/ name removed from my mortgage has not been completed by the time court proceedings commence, how could this affect the outcome?
6) Does my partner have any claim with regard to the property in Mauritius?
Submitted: 1 year ago.
Category: Law
Expert:  Clare replied 1 year 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 currently outstanding on the mortgage?
How much would a cheaper two bedroom property in the same school area cost to buy
How much is the land in Mauritius worth and what is the equity in his current property?
Clare
Customer: replied 1 year ago.

Hello Clare, thank you for agreeing to answer our questions.

There is £157,945.96 outstanding on my partners mortgage.

The cost of a two bedroomed property in out area I will come back to you on. But our three bedroomed end of terrace is valued at £405,000

The land in Mauritius cost £30,000 when bought in 20 03, but unsure what it is worth now but value would have risen considerably.

My partners ex- husband bought his property for £175,000 in 2008, am not sure of the equity but will try to find a current valuation of his property and get back to you.

Thank you.

Expert:  Clare replied 1 year ago.
Hi
Thank you I look forward to receiving the balance of the information
Clare
Customer: replied 1 year ago.

A two bedroomed property in our area would cost a mimimum of £300,000.

My partners ex- husbands property was bought for £175, 000, with the current market value being approximately £230,000.

Thank you.

Thank you.

Expert:  Clare replied 1 year ago.
Hi
Any idea how much of a mortgage he has?
Clare
Customer: replied 1 year ago.

Sorry Clare but we would have no way of knowing how much mortgage he has.

Expert:  Clare replied 1 year ago.
Hi
I suspected as much - but it was worth asking just in case
How soon are you likely to be in a position to go on the mortgage?
Clare
Customer: replied 1 year ago.

Hi I'm looking to get the ball rolling this week, but not sure how long the process will take.

Expert:  Clare replied 1 year ago.
Hi
When it comes to deciding on the financial issues the court will take all the assets held by each or both of them into account - including the property in Mauritius and also his financial interest in the home in which he lives
Whilst her ex is under a duty to help her house their child until the child is 18 the fact that she is cohabiting does mean that a sale is more likely - and I am afraid your children are not relevant to the issue at all
So to answer your questions
1.Hard to assess - but between 10% and 20% of the equity is possible
2. Yes since she is cohabiting - but the court may agree a shortish delay (say a year)
3. Since she cannot get a remortgage this may assist
4. see above
5. see above
6. Yes
I hope that this is of assistance - please ask if you need further details
Clare
Customer: replied 1 year ago.

Hello , thanks for responding.

I just wanted to clarify the 10-20% equity that her ex- husband is entitled to isn't that calculation made based on when he left the property and made no further contributions , I. e September 2006, rather than the current valuation of £405,000?

Expert:  Clare replied 1 year ago.
Hi
No I am afraid not.
The fact that he left the property in 2006 is not relevant to the settlement figure as all assets are valued at the time of the final hearing- but it does help it make the 10% more hopeful as a settlement
Clare
Customer: replied 1 year ago.

Ok thanks.

Is she able to stake a claim on his pension ?

Expert:  Clare replied 1 year ago.
Hi
The proposed figure takes into account her capitalising her pension claim
Clare
Customer: replied 1 year ago.

Ok - so she can still stake a claim on his pension despite her divorce being finalised?

But presumably by doing this the settlement figure he is likely to get will increase?

Expert:  Clare replied 1 year ago.
Hi
A pension sharing order cannot be made - but the fact that he has it will be taken into account in the settlement and was one of the factors I considered when I gave the guideline
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33818
Experience: I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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