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  • FIRST POST
    • scottishtraveller23
    • By scottishtraveller23 17th Jun 17, 3:44 PM
    • 2Posts
    • 1Thanks
    scottishtraveller23
    Mortgage after separating
    • #1
    • 17th Jun 17, 3:44 PM
    Mortgage after separating 17th Jun 17 at 3:44 PM
    Hello

    My husband and I have recently separated. He's agreed I can keep the house and he wants nothing. The house is currently worth less than we bought it for and we've been in it for five years.

    Can anyone please give me some advise on where we start on getting things sorted? Does it all have to get through a solicitor? or if there are no money arguments do we both just have to go to our mortgage provider?

    Any advise would be appreciated.

    thank you
Page 1
    • Thrugelmir
    • By Thrugelmir 17th Jun 17, 4:29 PM
    • 55,160 Posts
    • 48,357 Thanks
    Thrugelmir
    • #2
    • 17th Jun 17, 4:29 PM
    • #2
    • 17th Jun 17, 4:29 PM
    If the property is in negative equity. Your lender maybe adverse to releasing one party from the mortgage. If you remain in the property and continue to pay the mortgage. Then it's worth obtaining a properly worded agreement as to what will happen in the future. Equally your ex will no doubt wish to move on with his life. So won't wish to remain financially tied longer than necessary.
    “ “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.” Sir John Marks Templeton
    • caronoel
    • By caronoel 17th Jun 17, 6:06 PM
    • 734 Posts
    • 929 Thanks
    caronoel
    • #3
    • 17th Jun 17, 6:06 PM
    • #3
    • 17th Jun 17, 6:06 PM
    Are you separating or divorcing?

    If the former, then stamp duty may also be payable:
    http://www.coles-law.co.uk/news/tax-for-transferring-a-property
    • Gloomendoom
    • By Gloomendoom 17th Jun 17, 6:36 PM
    • 12,696 Posts
    • 16,893 Thanks
    Gloomendoom
    • #4
    • 17th Jun 17, 6:36 PM
    • #4
    • 17th Jun 17, 6:36 PM
    To keep costs down I used a conveyancing firm to remove my ex-wife from the deeds when I remortgaged following our divorce. In retrospect, a solicitor would have probably money well spent as the conveyancing firm took so long that I nearly lost my mortgage offer.
    Advice; it rhymes with mice. Advise; it rhymes with wise.
    • scottishtraveller23
    • By scottishtraveller23 17th Jun 17, 8:48 PM
    • 2 Posts
    • 1 Thanks
    scottishtraveller23
    • #5
    • 17th Jun 17, 8:48 PM
    • #5
    • 17th Jun 17, 8:48 PM
    We will be getting a divorce yes
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