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Harris
Harris, Law Specialist
Category: Law
Satisfied Customers: 2722
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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As part of my divorce settlement under a UK court order our

Resolved Question:

as part of my divorce settlement under a UK court order our family home was given to my ex wife and 4 children in order to secure a home for them, until 2020 when it is to be sold, with the proceeds to be used to pay the mortgage, and then the remainder to be shared between me and my wife.
however the term of the mortgage loan has ended and the lender has started repossession proceedings in court. lender has refused to wait 5 years when the mortgage capital is guaranteed to be paid off as per the court order.
I have been unemployed for the past 5 years and do not have the funds to pay off the £32,000 mortgage.
can the lender succeed in overturning the previous court order which guaranteed my ex wife and children a home until 2020 and succeed in repossessing the property?
if the lender fails in getting repossession of the home, can he then start proceedings to take my other assets to repay the mortgage, such as my current home which i bought a few years ago and reside in?
Submitted: 1 year ago.
Category: Law
Expert:  Harris replied 1 year ago.
Hi, thanks for your question.
The mortgage provider's interest in the property will supersede the financial agreement. Was the issue of the mortgage term ending now not raised in the divorce settlement?
Are both of you not able to raise a further mortgage to cover the next two years?
Customer: replied 1 year ago.
So you are saying that the lender will succeed in evicting the ex-wife and family?
of course my ex-wife's solicitors are already in contact with me and will take action against me to try to force me to do something due to the court agreement.No, the term of the mortgage was not raised in the proceedings.my ex-wife will decline to pay, and I cannot as i cannot find any lender to remortgage the property due to my unemployed status . I had a investment policy to cover the mortgage but I used up the proceeds to pay off a huge solicitors bill.
Expert:  Harris replied 1 year ago.
Thanks for the further information. I cannot for certain say whether the lender will succeed in evicting them, but they have a right to pursue repossession if there are arrears or the mortgage term expires without being settled. The process they have to follow is here: http://england.shelter.org.uk/get_advice/repossession/ways_to_prevent_repossession/steps_before_court_action
Depending on the wording of the order, she may no longer be able to make a claim for financial relief, therefore the option may be to bring forward the time for the "sale" of the property and split of the equity.
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