Joint property and court process

Hi

Ex and myself have a joint mortgage on our former home, which is also in joint names. I have moved out and currently living with parents whilst she remains in house with our 8 year old daughter.

I am still paying half of the mortgage plus full child maintenance.

There is approx. £60k equity in house, and I have told ex that I will accept £20k now in full settlement for my half with house and mortgage then being transferred into her sole name.

The most she can afford to pay me now is £11k as that''s all she can raise from a remortgage and has said that, if I don''t accept it, I will either have to wait until our daughter is 18 for my full £30k or take her to court.

£11k wouldn''t be enough for a deposit on my own home so would need to either rent or stay at parents until I have saved enough.

if I took it to court, what would the process be? would the court order ex to pay me £11k now plus the remaining £19k in the future?

Any advice re the above, the court process or any other suggestions would be gratefully received.

Thanks

It depends. The Court could order a lump sum now, and charge back for a further lump sum later (normally the charge back would be for a % of the value of the house, not a fixed lump sum)

If at the time it went to court she was saying she could no longer get the £11K you might end up with a charge back for the full amount, instead.

What is your ex''s mortgage capacity? Would she be able to rehouse if the house were sold with you having £20K and her having £40K from the sale proceeds?

Has she actually checked with the mortgage lender that they will let her take on the mortgage in her sole name?

thanks for your reply.

ex has been told she can get a maximum mortgage of £103k. Existing mortgage is £92k, so excess of £11k is what she would pay me. she doesn''t have any other capital or savings.

she wouldn''t be able to say she can''t raise £11k now as mortgage company has said they would lend it.

she has 3 children in total so i think she would struggle to find a suitable 3 bed house for £40k lump sum and £103k mortgage. she certainly wouldn''t agree to a sale.

what is my worst case scenario if i took it to court? presumably it would be nothing now and a lump sum in future, although this seems unfair given that ex can borrow £11k?

would i have to accept the courts decision?