OK I seem to have managed to get myself into a real pickle. Everything I have is in joint names with my Ex husband and getting it sorted out is proving impossible! the first hurdle is the mortgage, I am trying ot buy him out of the house...but as we currently have a joint loan thats on a pretty high monthly repayment I keep getting told that I cant get enough of a mortgage.
I've tried applying for a loan that covers my half of the current joint loan but again keep getting turned down due to the current repayment, and the fact that I would still be liable for half of the remainder that he was to pay off.
Then theres the bank account, He gets paid mis month and I get paid end of the month. Ive opened up a bank account for my wage starting this month, but its difficult to know where to draw the line with paying for the direct debits which are all still coming from the joint account. I thought sensibly I should put in my half of the bills I am accountable for but he sees it that I have been using his money since the middle of the month and therefore should pay extra (At the beginning of the month the only money in there was my wage so I dont quite see where he is coming from)
We have been very good at keeping this amicable, but money has become a major sticking point which we just cant seem to fix quick enough!
Any hints from someone whos done this bit already?
The main point on the borrowing is that if you genuinely cant afford the repayments then u may be getting yourself into an even worse pickle by trying to take the whole house on yourself...you may have to downsize.
Alternatively if you think (by taking into account some maintenance you will receive from him) that you could afford it then it may be you just need to try a few banks that recognise maintenance from an ex as part of your income and will lend to you at decent rates. I think for example the yorkshire building society have a mortgage especially for newly divorced people.
2) The bills -start month vs middle month
The solution to this one is to buy two large fresh trout - (Waitrose has a nice fish counter). You need to both go out into the garden, stand 3 feet apart - each brandishing a wet fish by the tail. Now for the next 2 minutes you are free to take pot shots at each other - yep see if you can get a really good shot to his right cheek.
Repeat the above every time you both create a problem out of nothing.
Borrowing money is the most frustrating part. I can easily afford the monthly repayments, but many lenders wont give me enough of a mortgage based on my annual income - catch 22. I dont think I am entitled to any maintenance, we dont have any children, and we earn similar amounts although I admit I'm a bit baffled by this idea anyway... To be honest once hes moved out I really dont want to have anything to do with him financially! ( I know thats a pipe dream!) I'll have a look at that building society though... Thanks!