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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?


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

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