Transfer of equity problem.

swstevewil

chanz4 wrote: »

if you go for b, wont that allow her then a further claim at a later date as not a divorce settlement amount

We don't want to live together anymore but that doesn't mean we don't trust each other. Her name is coming of the deeds to our house and it will become mine.

swstevewil

Thrugelmir wrote: »

Normally people do separate well before the formalities of the divorce are formalised.

That's what we are trying to do.

swstevewil

kingstreet wrote: »

Perhaps because the broker has never come across the perfect storm of your circumstances, your solicitor and your lender?

I know a lot, but I'd never think I know everything.

He doesn't need to. a lot of remortgages are for the purpose of transferring equity so some knowledge of this area should be expected.
My broker was informed of my situation.
Seeing as he was losing documents and asking for them again, then listening to one figure on the phone but writing another one down on the application form along with adding amounts for debt consolidation to mortgage amount to make the affordability section better, but leaving those debts as still being paid monthly at completion, on the application form. I suppose it was a bit much for him to have remembered much from previous dealings from similar cases.

Thrugelmir

swstevewil wrote: »

That's what we are trying to do.

The Consent Order being a pivotal part of the process.

swstevewil

Thrugelmir wrote: »

The Consent Order being a pivotal part of the process.

We haven't started the legal process tough. I have explained our reasons for this.

ethank

Please update us with the legal advice, when you get it.

swstevewil

ethank wrote: »

Please update us with the legal advice, when you get it.

I contacted the lender this morning and their opinion was if it's legal we don't care so go speak to the solicitor.

I then spoke to the solicitors who informed me that it was only an issue if the current outstanding mortgage being redeemed plus the equity being transferred was liable for stamp duty. My amounts fall short of this threshold so all good.
The advice was tick box B which is not part of divorce proceedings e.t.c or
tick box A which is it is but add a note that there were no documents.

No delays incurred (shame there is still a £300 transfer of equity fee)

lonestarfan

One of your comments is about the costs of a divorce. Why do you need to pay a solicitor for a divorce anyway. You can do it yourself. I only say this as none of your posts mention children.

swstevewil

We have only tentatively looked at divorce so far. we will be exploring the options fully once my wifes house purchase is complete. We are both earning roughly the same and are just looking split everything equally.
We do have 2 older children and will be splitting any costs accordingly.
To be honest we don't see why a judge has any say in how we arrange our separation and can't see the point in shelling out for this.
We are grownups and still trust each other so don't need a piece of paper for guidance.
The problem is we will need one in the near future as my son's student loan's entitlement which is next to nothing is based on our joint income. We will need formal documentation to base his entitlement on a single wage and then again for my daughter in two years time.

swstevewil

If it wasn't for the student loan issue we would have just drawn up wills and not bothered with the divorce proceedings.