FMH

Ex wife ,thinks she cant get a mortgage ,because her income has doped because covid .she wants to keep the FMH their is 60k on the mortgage left to pay .she still has 20k a year with benefits and child maintenance .without including her income from her part time job . she is 52 me 61 we have 2 kids youngest is 12. i make about 15 k a year . do you think a judge would make me stop on the mortgage for 6 years till youngest reaches 18 .it would mean i would have no chance of getting a mortgage. i told her she can have the house and i would keep my pension and use the 25% lump sum as a deposit which is about £43000 for my housing needs.. but if she cant get a mortgage what to you thank the outcome could be if it went to a final hearing . thank you .



Edited 1 time(s). Last edit at 11/30/2020 05:31PM by bigman60.

You don't say how much the FMH is worth or what sort of property it is. Figures like these matter because the figures are what usually determine the outcome.

the FMH is worth 125k making the equity in the property is 65k with 60k mortgage my pension for the period of the marriage is 53 k hope this info helps

Bearing in mind that there are two dependent children, that there is not enough equity to provide homes for two people if the house is sold now and that your wife very likely couldn't get you released from the mortgage anyway I think it is quite likely that the house will be transferred to your wife with a charge in your favour for a percentage of its value. However, you will not be able to force a sale and realise your charge until one of various trigger events which are typically your wife's death or remarriage or the youngest child ceasing to be dependent. On the figures you have given I doubt that any other solution is practical.

Pensions are a separate issue. On the face of it your wife is entitled to half the pensions which have been built up during the marriage.

You and your wife could agree some sort of different outcome but I think if a court had to decide this that is how things will go.

I don't suppose this is what you want to hear but if you think about the figures in your case it is hard to see any other outcome. Your wife's need for a stable home for herself and the children will carry a lot of weight in the context of figures like these.

Thanks for your input David .hopefully we sort something out with the pension lump sum