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Ask Clare Your Own Question

Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33304
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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Me and my wife have been separated 2 and a

Customer Question

hello
me and my wife have been separated for over 2 and a half years , she left me and I'm in the family home , she wants me too sell the house its in joint names , I'm self employed and work from home, if we sell now , there will be practically nothing left after fees, leaving me homeless and without a workplace, and with the added stress of trying to get money together to find a deposit for rented accomidation .
I've asked her , that a postponed sale would be a more sensible proposition at this time , so that we both would benefit with the housing market rising and that within 3 years i would sell the house.
she refuses this option , so I've been told she can apply for a court order to sell the house , would my current finacial circumstances be taken into account if she does this, my work has been pretty thin on the ground the last 5 months
leo
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 the house worth and how much is outstanding on the mortgage?
What other assets are there and what income do you each have?
How long have you lived together and are there any children involved?
Clare
Customer: replied 1 year ago.

hi clare

i am 60 years old and have 5 years left on the interest only mortgage

we bought the house 8 years ago for 125,000 at the height of the market

theres 117600 outstanding, we had 3 valuations done 120000,129995, and 130000 estate agencie fees range from 1.25 to 2 percent plus vat , and it also needs a energy certificate.

other assets we have , we both have cars, furniture and electrical items

i am self employed video editor and have a studio at home my income is varible obviously with what work i get in , my income varies from 12000 to 30000 per annum my wife works part time and has a small antique business i don't know what her income is, i paid all the bills , we got married in 1987.

we have 2 grown up daughters , one is 25 and a single mother and lives in liverpool the other is 17 and lives with her mum

Customer: replied 1 year ago.

just an extra bit of info

during the period of our seperation the house was in negative equity , i spent between 5000 and 7000 doing the house up new bathroom ,kitchen ,floors,etc to try and add a bit more value to the house

Expert:  Clare replied 1 year ago.
HI
May I ask why the mortgage is so high bearing in mind the length of the marriage?
Clare
Customer: replied 1 year ago.

hi we SOLD our house right at the bottom of the market and made only 5000 profit in 1999 we moved to cheshire and was renting for years till we bourght the house in 2007

Expert:  Clare replied 1 year ago.
Hi ***** see
Is your wife currently renting?
Clare
Customer: replied 1 year ago.

yes

Expert:  Clare replied 1 year ago.
HI
What would be the benefit to your wife of any delay?
Clare
Customer: replied 1 year ago.

she would get some more equity out of the house,and i would as well to hopefully give us a bit of money to get a deposit and pay for moving costs, at this time i have nothing ill be homeless, and without a place of work, I'm a video editor and have a lot of equipment in my job ,

Expert:  Clare replied 1 year ago.
Hi
I am sorry but unless you can arrange for your wife to be released from the mortgage she can indeed apply to the court for an Order for the Sale of the property
You can certainly try and persuade the Court that the sale should be delayed but there is no real argument for doing so and it is unlikely to be successful - but it will delay the actual sale which should give you time to sort out rented accommodation
I am sorry not to give better news - please ask if you need further details
Clare

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