Mesher Order

[BifBof]

After a very messy divorce I have just been granted a Mesher Order to allow me and my child to remain in the fmh for the next 10 years or so.

Although I am unemployed, I have been able to pay my joint mortgage without any trouble alone for the past few years.

However, the bank is now saying that they will not allow the mortgage to be placed in my sole name, and as I am unemployed will not offer me a mortgage. So, I'm at a loss at what happens next. Will I have to sell up after all?

[STIDW]

What are the exact terms of the order? Often there is a clause that the person remaining in the former matrimonial home will use their 'best endeavours' to release the other party from the mortgage. I they can't the other spouse will need to remain on the mortgage.

[mumblechum1]

As STIDW says, standard practice is for the wife to undertake to use her best endeavours to get the husband off the mortgage account. In practice, she makes an appln to the lender which is rejected. She has therefore used her best endeavours so fulfilled her undertaking.

There will usually be a clause in the consent order saying that she will indemnify the husband in any event. This means that if she gets behind on the mortgage and the house is repossessed, she'll take full responsibility for the arrears. In a Mesher arrangement, she'd have to pay the arrears from her share of the proceeds.

As you've been paying whilst unemployed (how on earth have you managed that btw?), and assuming that there's a reasonable amount of equity in the property, it is likely to work out fine. Only problem really is that your ex won't be able to get another mortgage till the current one is redeemed,unless he's a very high earner with a large deposit.

[BifBof]

thanks for your help!