Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • scottishtraveller23
    • By scottishtraveller23 17th Jun 17, 3:44 PM
    • 2Posts
    • 1Thanks
    scottishtraveller23
    Mortgage after separating
    • #1
    • 17th Jun 17, 3:44 PM
    Mortgage after separating 17th Jun 17 at 3:44 PM
    Hello

    My husband and I have recently separated. He's agreed I can keep the house and he wants nothing. The house is currently worth less than we bought it for and we've been in it for five years.

    Can anyone please give me some advise on where we start on getting things sorted? Does it all have to get through a solicitor? or if there are no money arguments do we both just have to go to our mortgage provider?

    Any advise would be appreciated.

    thank you
Page 1
    • Thrugelmir
    • By Thrugelmir 17th Jun 17, 4:29 PM
    • 58,448 Posts
    • 51,817 Thanks
    Thrugelmir
    • #2
    • 17th Jun 17, 4:29 PM
    • #2
    • 17th Jun 17, 4:29 PM
    If the property is in negative equity. Your lender maybe adverse to releasing one party from the mortgage. If you remain in the property and continue to pay the mortgage. Then it's worth obtaining a properly worded agreement as to what will happen in the future. Equally your ex will no doubt wish to move on with his life. So won't wish to remain financially tied longer than necessary.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • caronoel
    • By caronoel 17th Jun 17, 6:06 PM
    • 850 Posts
    • 1,090 Thanks
    caronoel
    • #3
    • 17th Jun 17, 6:06 PM
    • #3
    • 17th Jun 17, 6:06 PM
    Are you separating or divorcing?

    If the former, then stamp duty may also be payable:
    http://www.coles-law.co.uk/news/tax-for-transferring-a-property
    • Gloomendoom
    • By Gloomendoom 17th Jun 17, 6:36 PM
    • 13,917 Posts
    • 18,295 Thanks
    Gloomendoom
    • #4
    • 17th Jun 17, 6:36 PM
    • #4
    • 17th Jun 17, 6:36 PM
    To keep costs down I used a conveyancing firm to remove my ex-wife from the deeds when I remortgaged following our divorce. In retrospect, a solicitor would have probably money well spent as the conveyancing firm took so long that I nearly lost my mortgage offer.
    Never argue with stupid people, they will drag you down to their level and then beat you with experience. - Mark Twain
    • scottishtraveller23
    • By scottishtraveller23 17th Jun 17, 8:48 PM
    • 2 Posts
    • 1 Thanks
    scottishtraveller23
    • #5
    • 17th Jun 17, 8:48 PM
    • #5
    • 17th Jun 17, 8:48 PM
    We will be getting a divorce yes
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,715Posts Today

6,596Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line? https://t.co/kwjvtd75YU

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin