Remortgaging with a charge on the house

Sorry for this being ever so slightly random, dont know who else to ask!!!

Im in the process of divorcing my husband and in order for him to pay me anything like a reasonable amount of maintenance for our 3 kids he needs to re-mortgage his (our!) house to reduce his monthly outgoings. My solicitor has recommended i place a charge on the house so if he ever sells it i would receive a certain percentage of any profits.

The problem is that my ex is saying he is unable to remortgage with a charge on the house, that no lenders are prepared to consider it.

I'm just wondering if anyone knows if this sounds true, cos i cant believe a word he says!!

Thanks for taking the time to read this xx

Can't advise you on it.

All I can say from experience (the younger end), don't let the battle thats about to commence between you and your ex effect your children, nor should you use them as bargining tools in terms of money.

I see so many divorced people using their children as a means to get money (not saying you before doo gooders start), it destroys the kids.

Bear that in mind when your at each others throats sorting those last few quid out.

Oh yeah, sorry, can't help. In all honestly my mum remortgaged to buy out my dad outright. but given the current times, mortgages are hard to get. Esp if your now single, and the house is worth quite a bit and theres quite a lot outstanding.

Sounds likely. As there would be two parties after the property or sum should anything happen. You might be able to get something drawn up to say that the mortgage company gets their part 1st, then you get the extra.

I've bought and sold many properties so feel free the pm me for further help.

No residential lender will be happy with anything other than a first charge.

So you could agree to postpone your charge to the lender's charge, ie you come second. You'd want to agree the amount of the first charge so that you know that there is still equity in the house. Whatever, being second can be an exposed position to be in as you're the first to lose, so make sure that any deed of postponement holds water.

Ed

Thanks guys, im just at my wits end with this!!
All i want is enough cash to provide for the kids, im quite happy to go without.
Ive already agreed to waiver my right to £80,000 of his pension if he agrees to pay me a very basic £300 a month for his three kids because the kids and i need help now and not when he retires in 15 years. It seemed fair enough that i place a small charge on the house so that maybe one day i might get some further financial reward, even though it may only be a few grand.
Hes got the kids at his house now and hes telling them how hes going to have to lose his house if he cant remortgage it and then he'll only be able to see them every other weekend (at the moment he has them 6 nights out of 12) because he is more than willing to involve and upset them.

So what do i do? Give in even more and forget the charge so he can remortgage to pay me the £300, or risk that hes telling the truth and will ultimately have to sell up and will make sure the kids think its my fault, or do i let the courts decide. I am frustrated, angry and and the end of my tether with him.

id have him speak to your solisiter and sort things out with them ,have him explain the curcumstances and come to a agreement with your brief, then when your brief is happy they will phone you to give the go ahead
thats why your paying the brief

Originally Posted by kellyjo

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Hes got the kids at his house now and hes telling them how hes going to have to lose his house if he cant remortgage it and then he'll only be able to see them every other weekend (at the moment he has them 6 nights out of 12) because he is more than willing to involve and upset them.

See what I mean.... Typical, the kids are always abused in these situations. Theres already propogandar there. He shouldn't be talking the the children about adult conversations.

Far better to only see them once a week then drag them into the ins and outs of something they won't understand yet. The children can adjust. Dad blaming mum and vice versa will only cause more seperation.

Sorry, really gets on my goat people using kids in seperations.

Not that this helps whatsoever but My brothers wife left him.
He had to remortgage the house to buy her out, buy her a car etc.
She left him with two kids and to this day she has not paid him a single penny in maintenance
Sometimes there really is no justice!

you should talk to your solicitor, if my ex was ever to sell our house i get 35% and her 65%, very fair that i thought, solicitors are worse than politicians, *******s.

[Bri w]

Kellyjo, as Ed sez.