Separation and family home

wardrobes2

Hi,

Im looking for some advise regarding the family home and mortgage.

Im separated nearly two years with 2 girls 8 & 13. I'm currently renting and paying €800 per month. My 2 girls stay with me 4 days one week and 3 days the next week. Maintenance is being arranged by my ex husband. All is fairly agreeable at the moment. He is still in the family home and paying the mortgage.

I would like to try move back into the family home and try take over the mortgage if possible, only problem is i'm on an invalidity allowance . I can afford the mortgage of €600 p/m but when I put this to my ex he said that the lender wouldn't agree to this as I'm unemployed.
Is there a way around this?? Does the lender have to know that I now want to pay the mortgage solely and he signs something through our solicitors that he signs the house over to me?? I would not be able to get a mortgage in my name and he works full time in high paying job and has an option to move into a relatives home which is un-occupied for the last number of years.

Any advise would be really appreciated. Thanks in advance

Xterminator

Does the lender have to know that I now want to pay the mortgage solely

Hi Op

Not sure you have thought this through well. You want to take over the mortgage payments but keep your husbands name on the mortgage so that he is financially responsible for it should you fall behind in you payments? Can you see anyone in their right mind agreeing to that one?

if you take over the mortgage then you need to take the legal responsibility too. Otherwise you get the advantage of living on the cheaper rent, but he keeps the risk of the bank coming after him if it falls in arrears.

I think you are simply in the same situation most renters are in ireland where private rent costs more than a mortgage would be you havent a snowballs chance of getting a mortgage in your name.

I hope you have got yourself on the waiting list with the council, you seem a good candidate for social housing.

Markcheese

What happens if the interest rate goes up and the mortgage repayment goes up a lot.. Can you handle that,
Have you had legal advice ( or have a mediated separation agreement),as to what you can reasonably expect to be entitled to,
And no, I wouldn't just hand over the house I'm living in, to be 100% on the hook for the mortgage.. Especially if I'd already agreed otherwise...

LegacyUser

You've child career split 50/50 it sounds like with your ex as i assume they are 3 days with him one week and 4 the next etc So what happens if he moves to his relatives house is there enough room for the kids there?

Ignoring issues with making the payments now what about the future OP? When your kids move out is the plan to sell the property? Even if you take over paying your OH is entitled to half the property. Would it better to sell now and split the money? I assume you fear renting long term but why would your ex sign half the property over to you?

singledad1979

Any Update?