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House agreement is this feasible?

(4 Posts)
daisymai08 Thu 16-Feb-17 17:43:06

My STBXH and I have come to an agreement.
My DB will loan me the equity due to him and then once the redemption is up in Aug 19 i will either sell the home or I will take it over. I will take over all the mortgage payments in the interim and he will have no claim on the house.
Is this ok? Am assuming we can do what we like but it has to be legal!!
Help greatly appreciated

Blobby10 Thu 16-Feb-17 21:05:06

You can do this but need to speak to a solicitor - presumably your STBEx is giving you all the equity in the house? If so what is he getting out of the split? It has to be fair to both parties and take into account pensions and savings and all that sort of thing.

jules179 Thu 16-Feb-17 21:13:34

You will have to do it legally in order for him to give up his ownership of the house.
You will also need agreement from the lender that you can take over the mortgage.

daisymai08 Thu 16-Feb-17 21:57:17

He's getting 40% at solicitors Thursday thanks guys x

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