Transfer of equity question/divorce

Inforapennyinforapound

i agree and whats more in this difficult climate some employees may be cutting their own throats.If santander lose business then people will lose jobs...tough titty on those faceless decision makers(who i am told are non-customer facing so i cannot make direct contact)

Thrugelmir

Inforapennyinforapound wrote: »

My wife and i are divorcing.She has agreed to let me keep house and i will give her some money.So far so good(no kids involved)

Have you had an agreed financial settlement drawn up ? i.e. a legally binding agreement signed by both of you.

Inforapennyinforapound

In answer to the above post a Consent Order is being drawn up which we are both happy to sign(although the highly paid solicitor has made some errors!)

And yet another warning...try to settle amicably otherwise the only winners are the very greedy Solicitors who actually,it seems,want you to squabble/fight and line thier pockets with money that you should be sharing.

Thrugelmir

Inforapennyinforapound wrote: »

In answer to the above post a Consent Order is being drawn up which we are both happy to sign(although the highly paid solicitor has made some errors!)

This may well satisfy the bank. Until it is signed, the bank will consider itself at risk. As nothing to stop your ex claiming a share of the jointly owned assets from you.

Simon_gloster

Inforapennyinforapound wrote: »

i agree and whats more in this difficult climate some employees may be cutting their own throats.If santander lose business then people will lose jobs...tough titty on those faceless decision makers(who i am told are non-customer facing so i cannot make direct contact)

Look, seem like you failed the credit score. There are many positive factors in your situation, however this would need to go to a higher authority to put their name against and agree.

If it did get agreed by x, and for whatever reason you fell onto arrears, it would be more problematic for them to repossess. Also they would only have one person to chase now.

Albeit £40k outstanding, whose to say you wont apply for further lending in the future? No-one on this earth could guarantee that.

Low LTV, sounds good income, change providers and stop slating them and solicitors.

meer53

Will your ex definately agree to a transfer of equity ? If she will, then you have to remortgage in your sole name, which, as you've found isn't that easy these days. A default on your credit file will affect any lending decisions. Do you have any other accounts with Santander ? If you do, how are they run ?

I've just remortgaged in my sole name and gone through a transfer of equity with my ex, (it was an amicable agreement) i used a mortgage broker. It took 6 months and my mortgage completed 10 days before my mortgage offer expired !

Inforapennyinforapound

maybe i will go down the mortgage broker route.I do have lots of accounts with Santander,no problems and a lot of savings.This is why i have problems understanding the decision.
I dont think they look at the other business i have with them.In fact i have enough savings to even halve my mortgage!! I wonder if paying some of it off would sway them?

And just for info my default was in the princely sum of £90...settled 2 years ago.

getmore4less

Look at your savings, what sort of rates are you getting?

Might be worth looking at offsets rather than reducing the debt.

Good opportunity to get away from Santander.

with credit issues a good broker will help filter appropriate lenders.