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Clare, Solicitor
Category: Law
Satisfied Customers: 34886
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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I think I'm in a mess. I am in the UK. My husband and I have

Customer Question

I think I'm in a mess. I am in the UK. My husband and I have sold our house. The new house will be in my name only because we need a small mortgage and has has historic debt so the lenders would not consider him.
Assistant: Thank you. Can you provide any more details to help us find you the right Expert?
Customer: On Friday we exchanged on the sale on the house and the purchase of the new house. On saturday I was told (& have since verified that my husband is having a serious affair and has been for the past 6 months. & that he is planning to divorce me. If I pull out of the sale now I will be indebted to the person I am buying from for £90000 ... I don't have this so I guess I just have to get on with it. ... So 1st quetion. The final form I need to send in for the purchase is the Royal Bank of Scotland Morgate deed. I sign this so that is ok. THere is also attached an 'Occupiers consent form' For some reason he doesn't seem keen to sign this (although) I would have thought it would acknowedge is interest in the property and therefore, protect him. Does he absolutely need to sign it? if the answer is no ... am I actually better off him not signing it. Needless to say I have 1000s of questions as what to do next !!!! ... I am still processing the gravity of my situation.
Submitted: 1 year ago.
Category: Law
Expert:  Clare replied 1 year ago.

Thank you for your question

My name is Clare

I shall do my best to help you but I need some further informtaion first

How much is the new house worth and how much are you borrowing?

What is the equity in the old house?

What is the early redemption fee on the new mortgage?

Customer: replied 1 year ago.
I am paying £950,000 for the new house
I am borrowing 75,000
We are selling the old house for £900,000, we don't currently have a mortgageEarly repayment: (mortage is fixed rate for 5 yrs)
repay before
30/9/2017 5% if outstanding balance
30/9/2018 4% if outstanding balance
30/9/2019 5% if outstanding balance
30/9/2020 2% if outstanding balance
30/9/2021 1% if outstanding balance
Expert:  Clare replied 1 year ago.

If you had the choice would you wish to go ahead with the purchase?

Customer: replied 1 year ago.
I don't think I have a choice as I have exchanged contracts on the house we are selling and the new purchase! I don't have the £90000+ which I would be liable for.
Expert:  Clare replied 1 year ago.

How long have you and your husband lived together, what other assets are there and what income do you each have?

Customer: replied 1 year ago.
We have lived together for 14 & half years .. marrried for 13 in october.
We both have cars but no other assets that I am aware of. He has bad debt which he didn't keep up payment on so he now has to pay £50 per month but can't go on mortgage.I lived at his house for about 1 yr then I sold the flat I already owned and put the £123000 toward the 1st house we purchased jointly. My aunt & uncle gave me an additional £60000 towards it. When we sold the house in 2013 we had approx £550000 equity and my aunt gave me £60000 towards our current property. When we (I) move to our next house - next week aunt is again giving me £56000 toward to purchase cost.
Expert:  Clare replied 1 year ago.

What capital contribution has your ex made and what income do you each have?

Customer: replied 1 year ago.
my husband hasn't made any 'capital contributions'. When he evetually sold the house he had orginially owned there wasn't much equiquity (may be 20k) .I was working full time prior being with my husband (I was pregnant by his child by the time we decided to live together ).. I worked as much as the doctors would let me - up to 8months pregnant (I had been very ill with my previous pregancy and afterwards - my 1st born at just over 6th months - so I was told to be careful) Husband has some self employment which continued for about the first 18months.
In 2013 I decided to open a small business (shop) .. I worked in the business successfully for the next 10 years, drawing approx £3000- £4000 to provide the income for the family. Husband has a couple of very brief jobs, during this time but most of the time did not work - I don't think he has to ever pay tax on the small amount he earned.
I liquidated the business in Feb. 2013 - I was unable to find employed work until we moved to our current area. (I didn't claim any benefits - just supported all from my savings and then a bank loan).
I started working again in January 2014 - about 20-24 hours per week. From Aug 2015 I have been full time and continue to be so.
From May - Oct 2015 Husband got some work abroad on a tv programme
again from April - Sept 2016 my husband worked on the same production on the tv programmeMy husband's mum died recently and i presume left him a small sum, but he has not discussed it with me so I thought if improper to ask.
Expert:  Clare replied 1 year ago.

How old are the children now?

Customer: replied 1 year ago.
Oliver 19 at ubuversity
Tom 14Danny has Daught (she used to live with us 50% of the time ... She is now 21 and working and has a flat she shares with a friend
Expert:  Clare replied 1 year ago.

How much does a one bedroom property in the same general area cost to buy?

Customer: replied 1 year ago.
Between £260000 and £400000+I am failing to understand why you don't ask all relevant questions at once ... rather than 24hrs apart
Expert:  Clare replied 1 year ago.

I am sorry - the fact is that one answer sometimes raises other questions and usually this is a more effective way of getting the information - my apologies I know it is not right for everyone.

If he is going to live in the property he needs to sign the form - without it the mortgage monies will not be released.

I note that in fact the penalty that you will face if you redeem the mortgage early is less than the penalty that you will face if you do not go ahead with the purchase - so on that basis yes it is better to go forward.

I am afraid that despite his complete lack of financial contribution to the marriage your husband does have a financial claim on the property - given the various capital gifts from your family this will not be a 50/50 split - but sadly 20% is possible - with 30% as your worst case scenario

So the first step is to go ahead with the purchase - and point out to him that if he does not sign the form and the purchase fails then you will seek to have the "extra cost" deducted from his settlement.

I hope that this is of assistance - please ask if you need further details