Myself and wife are separated but no agreement yet, still living together with our 3 kids.
We have family home which is in my name only. 400K value 220k tracker mortgage.
We have rental property in joint names.
300K value 150k tracker mortgage.
Neither of us wants to live in the rental property as it will be far from the kids.
We are reluctant to sell the rental property as the mortgage will be finished in 10 years giving us 150k each approx.
My ex has suggested buying a 3rd property for her to live in which we have been advised may be possible. We would get the deposit from family as we have little savings.
I am reluctant to put my name on a mortgage and write away any claim to it (mediation agreement?)when the bank can come after me for missed payments.
I am also thinking that 150k in 10 years from the rental property will be very helpful as I only have a very small pension.
Our incomes are similar at 50k each.
Any advice appreciated.
We have family home which is in my name only. 400K value 220k tracker mortgage.
We have rental property in joint names.
300K value 150k tracker mortgage.
Neither of us wants to live in the rental property as it will be far from the kids.
We are reluctant to sell the rental property as the mortgage will be finished in 10 years giving us 150k each approx.
My ex has suggested buying a 3rd property for her to live in which we have been advised may be possible. We would get the deposit from family as we have little savings.
I am reluctant to put my name on a mortgage and write away any claim to it (mediation agreement?)when the bank can come after me for missed payments.
I am also thinking that 150k in 10 years from the rental property will be very helpful as I only have a very small pension.
Our incomes are similar at 50k each.
Any advice appreciated.