Spouse to be Jointly Owning a Property with Ex Partner
Posted on 11 February 2009
MY PARTNER HAS BEEN DIVORCED JUST OVER A YR BUT STILL HAS A JOINT MORTGAGE AND DEEDS TO A HOUSE HIS EX STILL LIVES IN. WE ARE SET TO MARRY SOON WILL THIS POTENTIALLY AFFECT ME OR WOULD I BE ENTITLED TO ANY OF THE HOUSE. IF WE HAD A CHILD WOULD HE/SHE BE ENTITLED
How the previous matrimonial home, and the mortgage thereon, is to be dealt with will have been part of your partner’s divorce settlement. I presume, as you are asking this question, you haven’t yet seen a copy of the financial arrangements. I suggest you ask your partner to show you copy of the divorce settlement so that you know what his financial commitments are in respect of his previous wife and any children, as well as the terms of his entitlement, if any, to any share of his previous property.
Whilst he remains on his previous mortgage your joint ability to obtain a mortgage will be inhibited as any new lender will require your joint income to be sufficient to cover both mortgages. If your partner is paying maintenance that will also be taken into account when a lender assesses how much they are prepared to lend.
In view of this if you want to buy a property and you have a good income you may be able to obtain a larger mortgage by buying in your sole name. There is no reason why your partner can’t contribute towards the mortgage, even though he will not be a party to it in these circumstances.
Categories: Legal matters, Separation or Divorce, Special circumstances
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