Buying a home during a divorce

NornIronRose

Has anyone done this? 

Specifically before the consent order has been signed off. Ex husband’s solicitor has told him he can’t proceed to buy a property until the consent order has been signed by the judge. 

I have spoken to my conveyancing solicitor who says that we can get everything done in preparation and as soon as it is signed we can exchange and complete. 

I am concerned about losing my buyer as their mortgage offer will run out before that date. 

I have been given conflicting advice. One solicitor says that I have nothing to lose as the judge will not award me less than 50% equity which is what I need to buy the new property. Ex’s solicitor says nothing can be done until it’s all signed off. 

From what I understand, he would be taking a massive risk as the judge may decide that the financial agreement is unfair and award me more than 50% of the equity. 

I can’t find anything in law that would stop us selling the house and me buying on. 

Sorry if that is not clear but it has been a very, very long day. 

Has anyone sold and bought during a divorce? FWIW we are both wanting to get it all done asap. 

anselld

Why is that advice conflicting?  Both Solicitors have confirmed that nothing can proceed to exchange or completion until the order is signed.  Any work prior to this would be "at risk".  The only difference is that your solicitor is happy to proceed at risk, the other is not.

NornIronRose

Sorry. Just to clarify. I have two friends who are solicitors but not acting officially for me. One says it is a risk, the other says to go for it. Will discuss more fully with the conveyancing solicitor whom I am paying. I am realising more and more that I need to cut financial ties with my ex asap. 

NornIronRose

Managed to speak to the conveyancer at last. I can't go ahead til the consent order has been signed off. 

Really hope that the judge will sign it off and not make it go to court. 

ThisIsWeird

Good luck. A 'mare upon a 'mare

NornIronRose

Just a bit! Will be glad when it is all done and dusted. At least my conveyancer came highly recommended by people that I really trust and he seems on the ball. 

NornIronRose

UPDATE: divorce won't have gone through until beginning of November at the earliest. If we don't exchange by then,  the chain will collapse and all back to square one. 

I rang my conveyancing solicitor and asked him for the legal reason why he said we couldn't exchange before the divorce went through.  
He said that it is not possible when there is a restriction on the property. My ears pricked up at that one, because there is no court-ordered restriction. Apparently that is when both sides disagree on the equity split and the court is going to decide so puts a block on the sale of the house. 

As we have a written agreement of 50:50 then there shouldn't be an issue. Ex's solicitor has got him to sign a disclaimer as he didn't want to work with her any more as it has already cost him £4k. Some of which has been his own fault for lying to her about my financial circumstances so the consent agreement had to be amended a few times so I have zero sympathy. 
She has made it very clear in the disclaimer that the financial agreement is very heavily weighted in his favour. She has quoted him a further £15k to fight it out in court if it goes to that. I have been assured by my solicitor that the minimum I can get from the property will be the 50%, so there is no risk to me in using that equity for my onward purchase. Ex can't afford to take the same risk. Not my problem. 

Once we clarified that there is no court-ordered restriction on the property, it has been all systems go.