Case study AIB won't extend tracker - partner in denial/depression

[patrick43new]

Hello again,

Time has passed, and the situation with the mortgage and the house remains unresolved.

Regarding the home loan:
Outstanding amount: 227,000
House Value: 345,000
Earnings: 75,000p/a

The decision now is to initiate the process and resolve this matter.

My current concerns are:
My earnings have improved, and I now meet the lending rules by 3.5 times.

To expedite the process, if my spouse and I were to divorce in another EU state (with her consent), and we temporarily relocate for this purpose, would it make it easier for me to secure a new mortgage from a different lender to take over the existing mortgage solely in my name and remove my wife from it? I can work from wherever I decide. Once I return to Ireland after the divorce, I will continue living in that house or perhaps sell it in few years time.

Regarding the ownership of the house, my wife consents to me owning it if I release her name from mortgage. Would it be more challenging to execute the transfer agreement, obtain mortgage approval, and complete the deed and title transfer to my sole name if we divorce in another EU country and I initiate this process upon my return (after the foreign divorce)?

Would you rather recommend doing the Irish divorce? We heard this process can be longer and more difficult for both of us if it is done here in Ireland.

Are there any consequences related to dealing with the house after the divorce?

We've decided that a foreign divorce would be faster, but I want to understand if this decision might create any complications with the lender.

Thanks all

 

[ClubMan]

To expedite the process, if my spouse and I were to divorce in another EU state (with her consent), and we temporarily relocate for this purpose

Why would you do this rather than get divorced in Ireland?

Would you rather recommend doing the Irish divorce? We heard this process can be longer and more difficult for both of us if it is done here in Ireland.

Heard from whom?
Compared to where?

 

[DannyBoyD]

Divorce is relatively straight forward; its the settlement terms that can take time.

Don't forget about pension adjustment orders also.

What you are proposing is only adding to your costs.

 

[patrick43new]

Why would you do this rather than get divorced in Ireland?

Heard from whom?
Compared to where?

It is quicker to do it abroad, cheaper, and easier for both of us

Here in Ireland we need to get solicitors and solicitors will try to convince us to get best deal for each of us.

We almost decided to do it abroad, we want clear cut and want to get divorce in the country where we got married.

Unless it will complicate property situation in Ireland after the divorce... Can someone shed some light if the bank will deal with me if I return to Ireland divorced?

If I decide to sell in few years time, what issues are coming my way (for instance if wife decides to claim that she wants part of the house)?

 

[ClubMan]

It is quicker to do it abroad, cheaper, and easier for both of us

That's not what you said earlier:

We heard this process can be longer and more difficult for both of us if it is done here in Ireland.

Unless it will complicate property situation in Ireland after the divorce... Can someone shed some light if the bank will deal with me if I return to Ireland divorced?

It should be the same whether your get divorced abroad or here:

Getting a divorce in Ireland

A divorce decree allows both parties to a marriage to remarry. However, special conditions must be met before a court can grant a divorce.

www.citizensinformation.ie

I got divorced in another country – is my divorce recognised in Ireland?​

Divorces granted in most EU member states are generally automatically recognised here without the need for a court application. However, if there is a dispute, an application can be made to have the divorce recognised or not recognised here.

Foreign divorces (including those granted in non-EU member states) will be generally recognised in Ireland if either of the couple was living permanently in the state granting the divorce at the date when the divorce proceedings were issued.

...

If I decide to sell in few years time, what issues are coming my way (for instance if wife decides to claim that she wants part of the house)?

Divorce is, in pratcical terms, supposed to settle such matters.

You seem to be averse to getting legal advice but that's definitely required in a divorce situation in my opinion.

 

[DeeKie]

If you get a divorce abroad and the order of the court there says she must transfer the house to you then the Irish system will generally recognise and respect the order. That’s my understanding. Well done Patrick.

 

[Clamball]

Can you and your wife deal with the mortgage now, if she consents as you say. You can make the repayments now, well done on improving your salary significantly, and you have reduced the loan significantly. Your wife seems to be Co- operating again which is hugh. It can do no harm to ask.

 

[DannyBoyD]

You will 100% require legal advice if you choose to divorce abroad.

Legal separation and divorce law across the EU - Your Europe

Understanding which country's rules apply if you get a legal separation or divorce while one or both of you is living or lived in another EU country.

europa.eu

As far as the Irish courts 'following' any overseas order - that can be challenged, its not guaranteed; particularly if your non-Irish divorce is viewed as a means to circumvent Irish law.

 

[ClubMan]

As far as the Irish courts 'following' any overseas order - that can be challenged

The snippet that I quoted and linked to above already said that.

particularly if your non-Irish divorce is viewed as a means to circumvent Irish law.

Who ever suggested that the were trying to "circumvent" Irish law? My understanding is that the foreign divorce was being considered because it might be quicker and less costly than an Irish one.

 

[DannyBoyD]

That might indeed be the OPs intent; there's no guarantee a judge will not view it differently.

 

[DannyBoyD]

The snippet that I quoted and linked to above already said that.

Great, so we both come the same conclusion; ain't that grand!