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Divorce and mortgage

edited 30 November -1 at 1:00AM in Mortgages & Endowments
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yoyo123_2yoyo123_2 Forumite
8 posts
edited 30 November -1 at 1:00AM in Mortgages & Endowments
Hi

I have been separated from my wife for 2 years, and my divorce is currently being processed. I want to buy a house with my new partner but am concerned about the fact that I am not currently a single legal entity. Although the divorce between me and my wife is very amicable, neither my partner nor I want to open up the possibility of my ex wife claiming 1/4 of the house i want to buy in the divorce settlement.

As such my father has agreed to be co-signatory on the mortgage with my partner. When my divorce comes through at the end of the year I want to take on the mortgage in my own name.

I have two questions:

1) How do i go about changing my father's name to mine on the mortgage in 4 or 5 months when my divorce comes through

2) Does my father's name have to be on the deeds of the house if it is his name on the mortgage, or can it be mine and my partners, or I guess, just my partners

advice would be much appreciated

Cheers
«1

Replies

  • edited 30 June 2010 at 9:29PM
    Senior_Paper_MonitorSenior_Paper_Monitor Forumite
    2.9K posts
    edited 30 June 2010 at 9:29PM
    Sorry, but I have alarm bells going for for several reasons here.

    Too complicated and case specific for you to obtain valid advice here (and I suspect actions already being taken/considered on 'bar room solicitor' advice).

    Go to good Broker/IFA/Solicitor with full declaration of circumstances to ensure you all understand the implications of the various options available (it may be the best money you ever spend)
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • ValliValli Forumite
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    If your divorce is being processed surely you already have the Form E completed and an agreement of what the financial situation was AT THE TIME of separation or shortly after...
    Don't put it DOWN; put it AWAY
    "I would like more sisters, that the taking out of one, might not leave such stillness" Emily Dickinson
    :heart:Janice 1964-2016:heart:

    Thank you Honey Bear
  • My ex wife submitted the divorce papers, we have agreed that there would be no dispute over finance or property and therefore no financial order was applied for on either side. The decree nisi will be heard at the end of this month, so all that is left really is the decree absolute. As such we haven't completed a Form E
  • ValliValli Forumite
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    well if the NISI is so close don't complete just yet...

    England or Scotland BTW?
    Don't put it DOWN; put it AWAY
    "I would like more sisters, that the taking out of one, might not leave such stillness" Emily Dickinson
    :heart:Janice 1964-2016:heart:

    Thank you Honey Bear
  • ThrugelmirThrugelmir Forumite
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    yoyo123 wrote: »
    My ex wife submitted the divorce papers, we have agreed that there would be no dispute over finance or property and therefore no financial order was applied for on either side. The decree nisi will be heard at the end of this month, so all that is left really is the decree absolute. As such we haven't completed a Form E

    Have you come to a financial settlement regarding the division of assets ?

    "No dispute" is very vague.
    It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
  • England. When the nisi is through, does that make us separate legal entities, I thought we had to wait for the absolute?
  • Thrugelmir wrote: »
    Have you come to a financial settlement regarding the division of assets ?

    "No dispute" is very vague.

    We agreed to divide the assets of our marriage 50:50, which has already been done. I was concerned about safeguarding future assets outside the marriage (i.e. a potential property that may be in my name)
  • ValliValli Forumite
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    But if you have already agreed and settled division there shouldn't be a problem.

    My (unfortunately somewhat extensive:rotfl:) experience is within English Law BTW
    Don't put it DOWN; put it AWAY
    "I would like more sisters, that the taking out of one, might not leave such stillness" Emily Dickinson
    :heart:Janice 1964-2016:heart:

    Thank you Honey Bear
  • I guess that's what I wanted reassurance on, if the decree nisi is through then I am right in saying that all the division of finance and assets is already decided, and any future acquisition between nisi and absolute doesn't is not at risk
  • ThrugelmirThrugelmir Forumite
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    yoyo123 wrote: »
    We agreed to divide the assets of our marriage 50:50, which has already been done. I was concerned about safeguarding future assets outside the marriage (i.e. a potential property that may be in my name)

    Unless you've decieved your ex regarding your financial assets at the point of seperation then you should have nothing to worry about. If you've hidden assets by squirrelling them away then its a different matter.
    It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
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