[Solved] House - not sure what to do?

Hi James,

Hope we can be of help.

First things first, £500.00 dependant on your location seems about right. Cheapest i've encountered is £345.00 for everything.

In her wanting to stay in the house, i would be very careful how this is approached.

I have a few questions first:
- Is there currently equity in the property and if so, approximately how much?
- Who currently pays the Mortgage?
- Have Divorce Proceedings commenced?

Thanks in advance...

Thanks Yoji,

I haven't had the property valued yet but i think it could be anything from £8k - £20k, i am really unsure. Should this be my first action to get the property valued?

Currently my ex pays the mortgage as i can't afford to pay rent at my new place, childcare and the mortgage on top.

We are not married but i was advised that a deed of seperation should still be used as an agreement to arrange future plans for finances and an access schedule, does this document stand up in court if required?

Hi James,

If you are seeking to have the house sold or an Order of Sale put on the property, then having a valuation would be a good idea. This way, if there is equity you could say that it will mean once the sale has gone through then each party will get £X,000 under the agreement.

So am i right in thinking that you have an agreement that you will pay Childcare and Maintenance rather than a portion of the Mortgage?

Your Deed of Separation (aka Clean Break Agreement) will still form a legally binding document yes. However, in terms of Maintenance, after 12months the agreement can be overruled by the CSA/CMEC. This is the same for any Court Order too.

If writing a Deed of Separation and regarding your ex, your Solicitor should have advised that if you are giving 18months, you need to give a closing date for the house to be vacated, i.e. XX/XX/2014. If the house does not sell, you will be expected to meet an equal/more of the Mortgage than your ex. Your Solicitor will no doubt have more knowledge of how to get this forced through. If she is not in agreement to this, it may need a Court Order to be made... this of course in the interests of fairness. Its not fair for you to perpetually rent/house share, while she can live in a Mortgaged property.

Try and have your Solicitor bring about a quick a resolve as possible.

Hi Yoji,

I have been told I should get three valuations and take the average value of the three, is this right?

Thats correct, i pay childare and maintenance but nothing towards the mortgage but the Deed of Seperation states that because i am at risk and still liable for the property even though my ex has to pay the mortgage I am still entitled to a 50% split of the equity at the time of sale. Apparently if i let the duration of time she is in the house pass 5 years the aplit will change due to recent legislation changes?

I have given a date at the end of January 2013, the problem is she is refusing to leave the house, even though she is agreeing to mediation I have a feeling she has no intention of playing ball. Is it possible that the mediator may suggest that they stay in the house? I am just worried about being held liable for the property when i don't live there anymore but i also don't want to cause upset to my son.

Do you know approx how much a court order would cost and any attached legal fees to make this happen? Is it likely to cost more than the equity in the house and if so, what would you recommend, or do you think its still worth forcing a sale so i can be free of this situation?

thanks for your help, have a great weekend!

Hi James,

Yes, usually its always a good idea to do that. It just makes the proposal seem more fair and more likely.

Can i just ask, does your wife claim Tax Credits, as this funds towards Nursery a nursery place.

It is possible a mediator will say that staying in the house because of the child could happen, however, again i stress that is not a reasonable expectation and likewise as you say, if she falls into arrears/fails to pay the mortgage... you are liable for a portion of the debt. Even if there was a Court Order in place stating she will pay the Mortgage, there is nothing that will stop the lender approaching and holding you liable too. You need to speak to your Solicitor to have an Order of Sale be raised, this can be expensive short term, but can save you long term. This is an important thing to consider here.

Its unlikely to cost more than the general split of equity you are stating (£8-£20k) that you would be entitled to. However be aware, as she has your Son living there... she could still outright refuse. In which case you need to be looking at other means in which the Judge can make a direction. Ultimately, you need to be able to prove that in having the Order of Sale, this will not be a major detriment to your Son, first and foremost. You could argue that you would agree to her having a higher split of the equity if she agreed to sell the property to use as a deposit on a new home...