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JimLawyer
JimLawyer, Solicitor
Category: Family Law
Satisfied Customers: 10634
Experience:  Senior Associate Solicitor
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I need some advice regarding a joint mortgage that I hold

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I need some advice regarding a joint mortgage that I hold with my ex wife, post divorce.
JA: What steps have you taken? Have you filed any papers in family court?
Customer: the divorce was finalised years ago and we didnt include any financial agreements at that time.
JA: Family Court normally sits in a local County and Magistrates' Court. Do you know the location of the court? If not, what county do you live in?
Customer: Blaenau Gwent
JA: Anything else you want the Lawyer to know before I connect you?
Customer: I just need some help deciding on whether I hang on for equity (if entitled) or whether I let it go.

Hello, this is Jim and I am a dual-qualified lawyer (UK and Republic of Ireland) and happy to help you today.

Is your ex Wife agreeable to dealing with the property? Or does she want a share of equity?

Customer: replied 7 months ago.
she has lived there on her own with the kids since we separated and is looking to move to a bigger house I guess, she has asked me about signing a TR1. so I need to have a picture of my mind of what if any equity should be mine. she put down quite a substantial deposit (of her own money) when we first mortgaged and we spent the rest on renovating (which I did). when she fell preganant with our first, she stopped work and we lived on my salary until we separated, since then she has paid the mortgage and I have paid maintenance.

Thanks, ***** ***** and deposit would be taken in to account but that is only one factor the family court would consider. You should ask for 50% of the property however if you wanted the family court to get involved, the court will consider the factors contained within Section 25 of the Matrimonial Causes Act 1973 when it assesses a financial settlement. Therefore your ages, length of marriage, any children under 18, your earnings and earning potential (same for your ex Wife), the assets including the former matrimonial home and pensions if applicable, any debts, financial and non-financial contributions to the marriage, your standard of living enjoyed before the marriage breakdown, your financial needs in future and your housing needs, and so on.

The starting point is 50% but if there is a disparity in earnings or you have paid more in the way of mortgage/rent, etc, you can ask for more than 50% of the former matrimonial home. It would be worth speaking with her to see if she would agree to any split without having to involve the court.

If nothing can be agreed then you would need to issue financial remedy proceedings - I note you are already divorced. Until a consent order is signed and approved by the court then either party can make a claim on the other for finances. It is therefore important to deal with a financial order in the near future.

Before you involve the court with the finances you need to contact a local mediator which is compulsory before you ask the court to intervene in the financial aspect. You can find a local mediator here :

https://www.familymediationcouncil.org.uk/find-local-mediator

As I say, my view is you would be entitled to equity.

I hope this helps – if you can please give a positive rating by clicking 5 stars (at the top of your screen), I can answer any follow up questions at no extra charge and I will be credited for helping you today.

Many thanks,

Jim

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