House Buying During a Divorce

mrsides

The question is -

Would you buy a house for yourself whilst you are getting divorced? The former marital home was sold and the equity split between my soon to be ex wife and myself.

Just curious....thanks

arbrighton

How long is the divorcing process likely to take?

Will you be able to get a mortgage of the size needed on your own?


I probably would but they do say that some of the most stressful things in life are divorce and house buying so it may not be wise to combine the two.

tea_lover

I did. Didn't have any problems.

bigheadxx

I am currently doing this. Waiting for my "wife" to arrange a mortgage, she will buy me out and I will be putting an offer on a house this week.

amistupid

The best MSE solution is to find a new partner with a place of their own.

LandyAndy

tea_lover wrote: »

I did. Didn't have any problems.

So did I, although that was in 1989/90.

TBagpuss

the only issue is that until you have a final financial order either one of you could, potentially, change your mind about the financial split, and any new property you buy will still be considered as part of the marital assets as it is bought with proceeds from the former matrimonial home.

If you can't wait to buy, then it would be wise to get a separation agreement drawn up to cover the financial agreement, if you are not going to be at the stage of getting a formal order before you go ahead with the new purchase.

Of course, if everything is amicable you may feel that is not necessary, and only you can judge how big a risk you'd be taking.

bigheadxx

TBagpuss wrote: »

the only issue is that until you have a final financial order either one of you could, potentially, change your mind about the financial split, and any new property you buy will still be considered as part of the marital assets as it is bought with proceeds from the former matrimonial home.

If you can't wait to buy, then it would be wise to get a separation agreement drawn up to cover the financial agreement, if you are not going to be at the stage of getting a formal order before you go ahead with the new purchase.

Of course, if everything is amicable you may feel that is not necessary, and only you can judge how big a risk you'd be taking.

I considered this especially as I may not put the full sum into a new property. I may get an interim separation order drawn up.