Financial Agreement before divorce

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dodo

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Looking for advice on Financial Agreement before divorce. As would suit both of us rather than possibly waiting over a year for divorce to go through the courts.
Agreement we have reached with help mediation and both happy with this.
Husband buying ex out of house and house price agreed, ex needs her share of house now which Husband has .
So what is best way to go about this and what type of cost involved. Tks
 
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Which party are you?

Are you looking to buy out the family home?

Do you have children? Pensions? Savings? Other investments?
 
dodo said:
So what is best way to go about this and what type of cost involved. Tks
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I am not a lawyer, but this is what I understand happens:

Each of you goes to a separate solicitor.
Her solicitor will do up the legal paperwork to sell you half the house.
You pay her the money.

But if there is a mortgage on the house, you will need to clear it - probably with a new mortgage from the existing lender or another lender.

Brendan
 
DannyBoyD said:
Which party are you?

Are you looking to buy out the family home?

Do you have children? Pensions? Savings? Other investments?
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Husband
Yes buying family home and ex moving abroad. Both have multinational jobs
Both will keep their own pension
Both will keep their own savings
Shares split 50%
No dependant children But they will live with father.tks
 
Brendan Burgess said:
I am not a lawyer, but this is what I understand happens:

Each of you goes to a separate solicitor.
Her solicitor will do up the legal paperwork to sell you half the house.
You pay her the money.

But if there is a mortgage on the house, you will need to clear it - probably with a new mortgage from the existing lender or another lender.

Brendan
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Mortgage is 60K and Both names on it and will try switch to new lender as on Pepper tracker 0.5% so I see better fixed rates out there.
Question, if I wanted to remove ex from current mortgage the cost is about 1200E Pepper said. If I switch mortgage is there a way to avoid that extra cost to remove ex from mortgage? Tks
 
Understood.

You can't do this without legally undoing your marriage.

You could opt for a legal separation agreement & then apply for divorce at the appropriate time.

Get a new mortgage & get away from Pepper.
 
dodo said:
if I wanted to remove ex from current mortgage the cost is about 1200E Pepper said. If I switch mortgage is there a way to avoid that extra cost to remove ex from mortgage?
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This is a very small amount in the overall context of things. Don't let faffing around over small savings interrupt with Getting Divorce Done.

It will be difficult to get a mortgage for €60k. If Pepper allows you to simply take her name off the mortgage for €1,200 go for it.

You may be able to do that before the actual conveyance.

Brendan
 
For the divorce one of the solicitors will need to draft up divorce consent terms which are then signed by both parties. Once the consent terms are signed in my experience banks are happy from a mortgage perspective and conveyancing can go ahead before divorce is ruled on. To apply for divorce both parties will also need to submit Affidavits of Means and Welfare(if any dependant children). For the pensions you will probably need the assistance of an actuary to draft up the "nil" pension adjustment orders which will be required to ensure neither party has any come back after the divorce. That will cost around €1-1.5K. Solicitors fees for an uncontested divorce for both parties will be in the region of €8-15K each.
 
Brendan Burgess said:
This is a very small amount in the overall context of things. Don't let faffing around over small savings interrupt with Getting Divorce Done.

It will be difficult to get a mortgage for €60k. If Pepper allows you to simply take her name off the mortgage for €1,200 go for it.

You may be able to do that before the actual conveyance.

Brendan
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Thanks Brendan
 
Flybytheseat said:
For the divorce one of the solicitors will need to draft up divorce consent terms which are then signed by both parties. Once the consent terms are signed in my experience banks are happy from a mortgage perspective and conveyancing can go ahead before divorce is ruled on. To apply for divorce both parties will also need to submit Affidavits of Means and Welfare(if any dependant children). For the pensions you will probably need the assistance of an actuary to draft up the "nil" pension adjustment orders which will be required to ensure neither party has any come back after the divorce. That will cost around €1-1.5K. Solicitors fees for an uncontested divorce for both parties will be in the region of €8-15K each.
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Actually, doing DIY divorce with with company that has good reviews, cost about 600E
 
dodo said:
Yes that is what we are doing via DIY Divorce with a company.
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You are about to take the most important financial decision of your life. I am not an expert but there are lots of things you or your spouse could get wrong .

In your shoes I would not seek to save money on fees above all else.
 
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