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Taking out my first mortgage at 45

Last post Tue, Oct 13 2009, 7:05 PM by al2rst. 2 replies.
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  •  Tue, Oct 13 2009, 7:05 PM

    Re: Taking out my first mortgage at 45

    Thanks for your support Skywalker...we men should definitely stick together, just as the women do, at times like this.

    I have no idea why the courts blatantly seem to favour the female in divorce situations. Given that they are supposed to be impartial, it never ceases to amaze me. The only explanation I can give is that the whole equality thing has gone way too far, and it now seems to be ingrained in people's perception of women as the poor down-trodden sex for so long... so it's payback time.

    I suppose there are a lot of women who will agree with that view, without considering that these are individual circumstances we are talking about here - for instance, it was not my personal doing that women didn't get the vote for so long, that they often don't get paid the same as men for doing the same job, etc., etc.!!

    • Post Points: 5
  •  Tue, Oct 13 2009, 5:15 AM

    Re: Taking out my first mortgage at 45

    Alistair, you have my commiserations over your position.

    "Basically, she was going for a 50:50 split on everything, even though we were only married for just over 2 years when she left me."

    Whilst I cannot help you with your question regarding your name on the mortgage, what is very clear is the sheer anguish that you are suffering. So I have a general question.....

    Why do men compromise themselves so completely by getting married? It has to be the worst financial decision ever, going by the way the Courts are heavily weighted in favour of the women in divorce cases. This may well get me a lot of "hate male" (sic) replies, but can somebody explain it to me?
    • Post Points: 20
  •  Sun, Oct 11 2009, 8:01 PM

    Taking out my first mortgage at 45

    Hi All

    It's difficult to know what to name the subject of this post, but now you're here I'll explain my situation if I may.

    I'm currently going through a divorce and I've finally come to an agreement with my greedy ex-wife over the finances.

    Basically, she was going for a 50:50 split on everything, even though we were only married for just over 2 years when she left me. However, as I said, we've come to a compromise I believe.

    Anyway, to get to the point of the post, we bought our first house together with her having a mortgage (105k initially, now about 70k) and me having no mortgage but just cash from a previous house sale. Throughout the time she lived here, she paid the mortgage on the property as it was her mortgage. However, I had to have my name put on the mortgage in order for the building society to agree to the loan, even though I agreed with her that she would continue to pay it.

    After 10 months of her trying to offload half of it onto me, she has finally agreed to take responsibility for it as the situation is wearing us both down. Foolishly, by the way, when we married I had nothing drawn up legally to cover myself - just honesty and trust of the woman I married (ha, ha!)

    We have now accepted an offer on our house (which I am still living in), so I have started looking for a house of my own. I have realised that I will need a small mortgage of my own of about 30k to buy the house I would like (yes, I do realise how very fortunate I am in the whole scheme of things).

    My query is... can I apply for a mortgage of my own while I search for a property, even though my name is still on the one for the house I live in at the moment? What are the repercussions of this once the house sale goes through, i.e. at what point could I have my name removed from her mortgage (I don't think it's possible while solicitors are still finalising the agreement)?

    Many thanks in advance.

    Yours stressfully

    Alistair

    • Post Points: 20