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I divorced 3 years ago. All amicable but at the point of attempting to draw up a court order my ex suffered a severed meltdown and has been battling depression since. We had verbally agreed all financial matters and to this day are happy with what is proposed. I know hindsight is a wonderful thing and this should all have been sorted!
She is in the old family home and I have since re-married and am renting. The mortgage she is now paying and has been since divorce went through but I have remained on mortgage so that she can bring up our girls under the roof and foster which is her main income. She is currently unable to get a mortgage on her own. I have agreed with her she can have the equity in the property.
I am now ready to buy and have been advised I can obtain sufficient mortgage even with name on existing mortgage. However quite rightly my new wife is uncomfortable with the liability. Is my best option to draw up a court order now which offers transfer to her with an indemnity for me against the mortgage.
She is in the old family home and I have since re-married and am renting. The mortgage she is now paying and has been since divorce went through but I have remained on mortgage so that she can bring up our girls under the roof and foster which is her main income. She is currently unable to get a mortgage on her own. I have agreed with her she can have the equity in the property.
I am now ready to buy and have been advised I can obtain sufficient mortgage even with name on existing mortgage. However quite rightly my new wife is uncomfortable with the liability. Is my best option to draw up a court order now which offers transfer to her with an indemnity for me against the mortgage.
