Potentially messy divorce

claretmatt

You will only be able to take on the mortgage if your current lender will allow it. This generally depends on whether you pass their affordability criteria. There is also the option to remortgage to a new provider if the current one doesn't allow and another lender will.

You would need to complete a transfer of equity, whereby your ex would effectively transfer his 50% ownership to you. These cost in the region of £200 ish through a solicitor.

The ability to do it would depend on your salary, credit history, other debts, current mortgage balance, house price, number of dependents etc.

Sunnylooloo

Hi I am in the midst of a very messy and very expensive divorce and my partner is also inthe final stages of his divorce.

It makes me sick the amount of money that I have already spent on solicitors in my farce of a divorce (arguing about debts it is a joke! and ex cross petetioning my divorce.... don't ask)

Anyway my partner's divorce has been slightly more straight forward,he left his wife and they have 3 children, he is not allowed to force a sale on the house until the youngest children have finished full time education. He pays the mortgage on the property (they have got it on interest only at present) and the equity will be shared out and mortgaged paid once the house is sold.

Have you tried speaking to CAB maybe they could give you some advice or as someone else has already stated most solicitors offer a free session of half an hour to an hour??

I don't think he can force you to sell the house no more than you can force him to sign it over to you. Also as already mentioned by someone else will the mortage company let you take it over on your own?

My partner and his ex attended mediation which helped (and saved an awful lot of money) not sure if this is route you and your ex can go down (I am sure emotions are very raw at the moment)

Sorry not sure if this is of any help

whowants2brich

Just to add to this...

The divorce process itself is generally not very expensive, and neither are solicitors. The only reason that divorces cost so much, in legal fees, is because the two parties rarely ever reach any agreement - and it is up to the solicitors to be effectively mediators and to try to help the (soon to be ex) couple to agree on terms.

If the couple agree to what should be shared, and the solicitors agree that the division is shared in the interests of both parties, then the costs will be kept to a minimum.

If you can talk to your ex (or exes because there are a few examples here), and agree to how the equity etc should be shared, then go talk to a solicitor, tell them what you've agreed, and the solicitor will tell you if it's fair or if there are any implications as a result of what you intend to do...

Oh, and from recollection, 99% of home insurance policies do not pay out for family lawyers, including divorce law, they normally only cover the contract/employment/criminal side of things, and a few other more specialist aspects - never usually divorces!