my partner is separated from his wife and she lives in the marital home with their daughter.
My partners name is still on the mortgage, as she is unable to get a mortgage on her own. The law as we understand it states that she is entitled to live in that house until their daughter is 18, but this is preventing my partner moving on with his life, as he is unable to get a mortgage as he effectively already has one.
His dad currently has a mortgage on a flat that he lives in, but that mortgage comes to an end in a year as he will have reached retirement age, which is going to force him into renting which is much more expensive, this will put him in financial dilema as he will struggle to live then.
His daughter stays with him for around 6-8 nights per month and she and his ex wife stay with her father for prob 2 nights a week, so effectively his daughter only stays in the marital home maybe 3 -4 nights a week.
I think she is being unreasonable that he should live in almost poverty while she lives a great life, food shops in Waitrose, goes on holiday, buys new furnishings for the house.
any advice anyone can provide will be gratefully received, he is worrying himself sick over this, she is the one that split up the relationship due to infidelity. We know now that he should never have left the house as she moved out initially, but he was just trying to do the right thing for his daughter.
When the former matrimonial home is much bigger than required it may need to be sold to release equity to enable both parties to rehouse. The priority is keeping a roof over the heads of children, but a court wouldn''t expect children to be kept in the FMH if it larger than required and it leaves the other parent destitute. Your partner''s needs are for a property where the children can stay with him.
If the property isn''t that large and downsizing isn''t an option there may be no other option than for him to maintain an interest in the property in the form of a chargeback. Then certain conditions trigger paying out the charge back such as the youngest child reaching 18, or his wife remarrying or dying.
A good starting point is to consider local house prices and mortgage raising capabilities. If his wife can afford mortgage repayments he need to stay on the mortgage until she can release him from it. Sadly when there are children it isn''t always possible to just move on with life, their needs have to be met.
Thank you Fiona. I wouldn''t say it is much bigger than they need (a 3 bedroom detached) but it is an expensive house, there are much more reasonably priced 2-3 bedroom homes in the area that she could quite comfortably live in, and besides its not as if they stay there all the time.
So it would be reasonable for him to ask for the house to be sold, so that she can release his name from the mortgage, divide some of the equity and for her to move to a less expensive property?