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JGM, Solicitor
Category: Law
Satisfied Customers: 12185
Experience:  30 years as a practising solicitor.
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Hello, Everyone detailed here lives in Scotland. My husband

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Everyone detailed here lives in Scotland.

My husband (Mr B) divorced his wife 5 years ago (I am his second wife). Their mortgage was in joint names and in the divorce paper Minute of Agreement it states that she will be responsible for all of their home bills ie mortgage etc and will relieve Mr B of all responsibilities. In the MOA it states that she will complete the conveyance within 6 weeks of the date 4/12/2008.

However, the bank would not take Mr B off the mortgage because her earnings were too low. Her lawyer explained this at the time and to complete the divorce the issue was never completed.

5/6 years later Mr B asked her again to take him off the bank mortgage. Again she cannot prove she earns enough and she will not pursue the issue.

I want to know what liability Mr B has ? Worst case, she cannot pay the mortgage & gets repossessed, what claim have the bank over his personal assets outside of that old house ?

The house we currently live in is in his name only (Mr B purchased before his divorce) & we have 3 houses we own together. Could these be effected at all ?

Kind regards
Thank you for your question.

If the mortgage goes into arrears the bank will repossess the house and sell it on. If there is a shortfall in the sale proceeds then the bank can pursue both obligants under the Standard Security (mortgage deed) granted by both of them in favour of the bank. That means that your husband and his assets, and any assets in your joint names are vulnerable.

Worst case scenario is that the shortfall is such that the debt can't be repaid and assets would have to be sold as a result or the lender applies for your husband's bankruptcy which of course would be catastrophic.

Your husband may want to decide that his ex wife has breached the Minute of Agreement of Separation by not transferring the title to her and taking on the mortgage in her sole name. His remedy would be to insist that the house is sold if she still can't take it on. If she refuses he can apply to the court to have an order for sale made.

I hope this helps. Happy to discuss further.

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