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Found 2 results

  1. I'm hoping for a bit of advice please. My husband and I separated 2 years ago and I moved out of the family home 14 months ago. I am renting privately and my husband is still in the family home paying the mortgage. We are due to attend court for our final financial hearing in October. We have two young boys who are residing with me 60/40. We have little assets. Our home which has been valued at £315000 with a mortgage of £168000 left. Our pensions are very similar. Mine is £39k, his is £30k. He has made me an offer of 50% of the house equity minus the early repayment fee and the cost of sale. He is also taking 50% of the difference in our pensions (£4.5k minus cost to get pension statements). He has been lent money from his family to buy me out and pay off the remainder of the mortgage. He is now telling me that he is struggling financially and can't afford to pay the mortgage anymore. He has stopped the mortgage direct debit and says that unless I accept his offer out of court, he will default and we will both have bad credit going forward. I suppose he's not bothered because he has his family's money and won't need a mortgage or to rent if he buys me out but I will need to. This has ovbiously scared me and I have spoken to the lender who have advised me that we can switch to an interest only mortgage for the next 6 months and that will take us (almost!) up to the court hearing, but my husband has to agree. I've spoken to him and told him this but he is refusing and says if I change it to an interest only mortgage he will cancel it. I am completely stuck and don't know what to do. He's essentially trying to bully me into accepting with the threat of defaulting. He has access to his family's money but won't use it to pay the mortgage until the hearing and is saying that we have to put it up for a quick sale (below lowest valuation) so I will essentially get less than what he's offering so it's in my best interest to accept. What can I do in this position? My Dad has offered to lend me the money to buy him out but I know he will refuse this straight away. What happens if both parties want to buy each other out but one is saying he now can't afford to pay the mortgage? Will the court order us to sell to a 3rd party or say I can buy him out (even if he refuses)? Any advice would be greatly appreciated please. Thank you!
  2. I found this article which you may find helpful https://www.gulbenkian.co.uk/do-i-have-to-pay-mortgage-and-child-maintenance-payments/
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