Hello, I wondered if I could get some advice from anyone who might have knowledge about a joint mortgage on a house so I can proceed with a financial consent order?
In a nutshell, my soon-to-be ex-husband moved out of the family home almost 4 years ago. From that point on he has only ever paid child maintenance. We are still joint on the mortgage as I cannot afford to buy him out or take his name off the mortgage. He has agreed I can stay in the house for a number of years to come and we have agreed a 60/40 split in mine and the children’s favour once the house sells.
my question are:
1. When we do sell, does he get 40% of the market value at that time? Even if he hasn’t paid the mortgage at all?
2. I’m due to remortgage and I can’t get a fixed rate in just my name as I don’t earn enough, he’s still on the mortgage but not on the electoral register etc, I can’t afford the variable rate payments. Any suggestions as to what to do?
Thank you for any advice any of you can give. It’s hard work trying to do all this alone and I don’t have the money for a solicitor.