Waiting for final divorce papers/buying house and mortgages situation

[Loracina]

Hi, I'm trying to work out logistics of buying new property as part of the divorce.

My soon to be ex is buying me out of the family home and I need him to put the current mortgage in his sole name as well as wait for the money he will give me before I can apply for a new mortgage and get my own place.

He is a pain and I'm worried will make the transition difficult.

Has anyone been through this and is there anything I could do now instead of just wait for the money? I don't think I can apply for my new mortgage whilst my name is still in current mortgage, if he takes my name off now can he say I have to move out or until divorce is final there isn't much he can do about me staying in the house? I know buying properties takes weeks and I'm worried about how to manage the transition period.

Thank you x

Bumping up in case anyone can add any insight 🙏

I’m just a little confused by the situation - Are you currently living in the family home?
He’s going to buy you out, take ownership of the family home, and you move out?

It will depend on how he’s funding the buy-out - whether he’s doing an internal remortgage, complete remortgage, a combination of both, or a combination of one and a different loan. It’s not just as simple as taking your name off the mortgage.

I’d guess once his finance is in place, the sum he’s paying you will be transferred to the solicitor, they’ll sort taking you off the deeds, then pay you the money.

I'm possibly about to do this too; my concerns are that he could change the locks (he is a nasty piece of work).

Or that I'm homeless if I can't find somewhere quickly (either renting or buying).

Assuming that your ex-h has an agreement in principle in place for the increased mortgage? And can definitely buy you out?

It leaves you in quite a vulnerable situation.

Hi, thank you for replying.

We are all still living in the family home - I'm not leaving until the divorce is final and I have my money so I can buy my own place.

We already agreed how much and he told me his family will help financially so he can get the house and the mortgage over to his name - at the moment I can only hope that is true and he will have the money, but as we are also getting a clean financial break as part of the divorce, the payments breakdown will be on the paperwork so I'm hoping it will be ok.

I'm just feeling stuck as, while I have got a mortgage in principle for what I want to buy, I can't apply for it yet as my name is still on the joint mortgage. I imagine I need to come off it first before applying for another mortgage - it just feels like it will take forever?!

Then when my name comes off and he gives me the money, what do I do in the meantime while I wait for new place to be ready (mortgage, purchase process, etc)? Either we agree that I will stay here for another few weeks and help paying the bills etc (not sure he will agree as sometimes he is very nasty with me!) or I will need to live somewhere else while I wait? If it was just me I wouldn't mind but don't want to confuse DS even more by not having a place ready to go when we tell him about the divorce.

So confused 🤷🏻‍♀️