Talk

Advanced search

Mumsnet has not checked the qualifications of anyone posting here. If you have any legal concerns we suggest you consult a solicitor.

DIY Separation agreement for Bank

(6 Posts)
CandleWithHair Wed 08-Jun-16 11:08:05

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!

MarlowWills1 Wed 08-Jun-16 15:51:21

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!

Familylawsolicitor Fri 10-Jun-16 09:24:24

A signed draft consent order even if not approved by the court yet would do it - it's essentially the same thing as a separation agreement - a financial agreement signed by you both, but not approved by the court
Then you won't have to pay twice to be drawn up

Familylawsolicitor Fri 10-Jun-16 09:27:28

Or rather draft signed consent order and separation agreement has same effect in law before people come on to say they LOOK different - I'd argue the draft consent order holds more weight

MarlowWills1 Fri 10-Jun-16 10:35:26

Agree with FamilyLaw smile

CandleWithHair Fri 10-Jun-16 14:21:36

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

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now