With regard to the mortgage payment, as the loan is in joint names, then both you and your husband are "jointly and severally responsible" for the monthly payment. That is to say that in the eyes of the lender you are both equally liable for the mortgage payment, and in the event that the mortgage falls into arrears, it will serioulsy damage both of your credit profiles.
Typically most maintenance agreements run until the child leaves full time education, but this is something which you will need to come to agreement on between you.
I would suggest that you and your husband arrange some mediation on this subject as the advice that you are both getting from your individual solicitors is liable to end up damaging your credit profiles, and in turn your ability to obtain further credit.
If you would like to talk through your mortgage options in more detail, then please let me know and I'll arrange for one of our consultants to contact you.
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Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.
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