Divorce question Post Reply

[Babybump]

Hi Mums,

Such a sad topic especially with children involved. I wondered if any of you would know what happens regarding a house for the mother & children to live in after the family home is sold as part of the settlement? A close relative is worried that as she's been a stay at home mum for the last few years she won't qualify for a mortgage. She's really worried about how she'll be able to buy somewhere. Her settlement won't cover a cash purchase of a home.

Has anyone any knowledge on this that I can pass on?

Thanks very much xx

[Roo]

oh dear that is worrying for her. But if the children are under 18 she could apply for the right to stay in the home. Gillian Tyndall is a divorce lawyer from Sutton Mattocks who could give some advice: 020 8939 6970 or have a look here: http://www.moneyadviceservice.org.uk/en ... settlement

But if they have to sell she could perhaps buy a shared ownership property i.e where she buys 35% or 50% of the value of the property and then would pay rent to a housing association on the rest. There are lots of lovely developments in the area: she could look at Thames valley housing, Notting Hill Housing, L&Q... X

[gruffalo's dad]

I am a father not a mum so I hope that it is okay that I answer this.

Babybump: Your relative is right to be worried. A mortgage can only be given based on income. If the income your friend will have isn't sufficient then she won't get a mortgage no matter how big the size of her deposit. Also, even if your friend moved into employment straight away a mortgage lender is likely to require some history of employment earnings - maybe six months, maybe a year, maybe longer.

Rionne noted that your relative could apply for the right to stay in the family home. That is possible and can be granted but: (i) from what you write it seems that the divorce settlement already provides for a sale; and (ii) in many if not most cases a sale is preferable to getting a court order for a right to reside in the family home.

Be careful re shared ownership property. Some of the issues that can come up are described in this article in the Independent:
http://www.independent.co.uk/property/h ... 05884.html

[AbbevilleMummy]

Hi, my hubby is a divorce lawyer and doesn't mind giving your friend a bit of a steer as to how divorce law works.

If she would like to give him a ring, just PM me and I'll give you his mobile number.

[Merton Mummy]

Hello I will be able to help if you PM me.

[Babybump]

Thanks so much to you all for taking the time to reply. I haven't told my relative that I was going to seek help in her behalf so I'll have to find a good moment to discuss all this with her.

I really appreciate the pointers & offers of advice, I will PM you individually.

All the best