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Legal matters

DIY Separation agreement for Bank

5 replies

CandleWithHair · 08/06/2016 11:08

I am hoping someone might be able to help me here. Facts are:

  • H and I are in early stages of divorce, being handled by a solicitor. No kids, very amicable and we've already agreed how we want to split finances
  • I intend to buy H out of the house. I have successfully applied to remortgage, including tacking on a chunk of the equity owed to H in the loan amount.
  • solicitors for bank have written to say they need Consent Order or Separation Agreement to proceed with transfer of equity and removing H from deeds.
  • Consent Order is a few months out and current mortgage payments are unpleasantly high due to our fixed mortgage ending so I'm keen to hurry the process up if I can.
  • Don't want to pay solicitor for the same work twice, so could H and I draw up our own separation agreement for the benefit of the bank?

If so does this document have to be ratified by a solicitor or court for the bank to accept it or can we just write it up and send it off?

Help!
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MarlowWills1 · 08/06/2016 15:51

A separation agreement/deed isn't sealed by the court and isn't as watertight as a consent order, however it does need to be properly drafted.

Often clients agree a separation agreement and then incorporate that into a consent order later on (adding in any pension sharing arrangements etc).

So you shouldn't be charged full whack for both documents, if that helps!

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Familylawsolicitor · 10/06/2016 09:24

This reply has been deleted

Message withdrawn at poster's request.

Familylawsolicitor · 10/06/2016 09:27

This reply has been deleted

Message withdrawn at poster's request.

MarlowWills1 · 10/06/2016 10:35

Agree with FamilyLaw Smile

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CandleWithHair · 10/06/2016 14:21

Thank you both for the advice, that's really helpful. I'll talk to my solicitor about getting the draft worked up a little earlier than originally planned

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