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Transfer of Equity advice please?
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LisaW69
Posts: 1 Newbie
I was hoping to be able to get some advice please.
My partner and I have recently separated and he has moved out of the family home.
Thankfully we have managed to keep it nice and reached an amicable arrangement which we both agree to.
My father has been kind enough to release equity from his house to allow me to buy the house outright, paying off the existing mortgage in full plus an agreed sum which equates to my ex partners share of the equity after we had the house valued.
I am now in the process of finding a solicitor to draw up a fair legal agreement between me and my ex partner and to deal with the Equity Transfers for mortgage and my ex partner.
I would be grateful for any advice on this matter as obviously it is uncharted territory and I have no idea what questions I need to ask etc.
Is there anything I need to be looking out for?
Has anyone had experience of this before to maybe be able to pass on any relevant information or pitfalls I need to watch out for?
Thank you in advance any advice would be gratefully received.
My partner and I have recently separated and he has moved out of the family home.
Thankfully we have managed to keep it nice and reached an amicable arrangement which we both agree to.
My father has been kind enough to release equity from his house to allow me to buy the house outright, paying off the existing mortgage in full plus an agreed sum which equates to my ex partners share of the equity after we had the house valued.
I am now in the process of finding a solicitor to draw up a fair legal agreement between me and my ex partner and to deal with the Equity Transfers for mortgage and my ex partner.
I would be grateful for any advice on this matter as obviously it is uncharted territory and I have no idea what questions I need to ask etc.
Is there anything I need to be looking out for?
Has anyone had experience of this before to maybe be able to pass on any relevant information or pitfalls I need to watch out for?
Thank you in advance any advice would be gratefully received.
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