Can someone try to explain to me - divorcee buying our house

frafferty

I'm struggling to understand tbh. Can someone try to help me figure it out?

We have a divorcee buying our house and his ex-wife is being difficult with paperwork that is needed etc. Originally he was keeping on his existing mortgage and getting a new one and I think she was eventually going to buy him out or something.
The new lender was not happy with the 2 mortgage situation so our buyer had to sign a declaration to say that he would not be making payments to the old mortgage and his ex-wife was supposed to be doing the same. She hasn't. For almost a month.
Our buyer has decided to eliminate his ex wife from the proceedings and has decided to change his existing mortgage into a buy to let mortgage and will be taking out a fresh mortgage to fund the purchase of this property.
Can someone please help me to understand?

He must be sole name on old mortgage surely? Or if it is in joint names how would that work? Would the new lender still need to wait for ex-wife to sign something in order for mortage offer to be made on this place? Aaaaargggh! I'm so confused and annoyed. We are now almost 3 months down the line, rest of the chain has been ready to exchange for 3 weeks now :mad:
We have been told that new mortgage offer will take 24 hours but I can't see how that would work if the ex-wife needs to still sign stuff. I just want to move house please!!!!!

bryanb

I'd put your's back on the market, if he comes up good- OK, if not you've got to anyway.

frafferty

I had thought that bryanb but I don't want to annoy him so that he goes elsewhere. He is keen to buy the property and is as annoyed with his ex-wife as the rest of us are. I think he thought we would all be done and dusted by now too

Richard_Webster

I think he thought we would all be done and dusted by now too

Trouble is that people don't get divorced very often! So what can appear a simple process to them inevitably takes longer than they think. I am always wary when I find there is a matrimonial situation in a chain my clients are involved in as things can so easily go wrong and get delayed, even if the people concerned thought everything was fine - there's usually some complication somewhere that slows things down.

SouthCoast

there's usually some complication somewhere that slows things down.

And in matrimonial situations some of these can be caused by solicitors.:)

Emmzi

put it back on the market. there is no point hanging on to an unproceedable buyer. It may encourage him to compromise a bit with the ex - these things usually drag out because someone is after revenge/ being bloody minded.

Richard_Webster

Quote:
there's usually some complication somewhere that slows things down.
And in matrimonial situations some of these can be caused by solicitors.

Yes, some examples below.

Quite common for H & W to do a "deal". H is going to remortgage house a and give W £XX,XXX. All very straightforward. H goes to see his solicitor who says that he shouldn't sign anything until there's a court order "rubber stamping" the deal so that way she can't come back and ask for more later. This takes 2-3 months. H feels he has to take his solicitor's advice. So if my client is selling to W there is a delay before she can proceed.

There are variations on this theme with the matrimonial home being sold to my buyer client and H not being prepared to sign until court order comes through that ratifies "the deal" about how the proceeds are to be split.

It can be quite difficult to get a message through to H in these cases to the effect that "Your solicitor is going to tell you not to sign anything until there is a court order - you are not going to wait for that are you?" In most cases it is simply not possible for others in the chain to interfere like this.

Having said that these delays can be caused, and as a conveyancer I think they are a nuisance, from the matrimonial lawyer's point of view he is protecting his client.

frafferty

So we are probably best just to sit tight and ride it out then? And hope it is not too much longer:(

goldengirl28

frafferty wrote: »

So we are probably best just to sit tight and ride it out then? And hope it is not too much longer:(

sorry can't offer any advise, just wanted to say good luck, we're in a simular situation and struggling to know what to do

hope it works out for you