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Divorce/separation

Here you'll find divorce help and support from other Mners. For legal advice, you may find Advice Now guides useful.

Can I buy a new house with proceeds from house sale before divorce

4 replies

PoppyRose101 · 20/12/2022 18:28

Last year I discovered My husband of a 16 years cheated on me. I told him I want to separate and we have spent the last year going through the motions. We are both still living in the family home along with our 2 kids (11 and 14). We tried mediation which we found useless. We saw a financial advisor who really helped us. We have agreed a 60/40 split of all equity in my favour. The majority of this will come from the house, he would rather keep his pension which suits me as I’ll have a smaller mortgage going forward. We are still on fairly good terms. The house is on the market and today we’ve received an offer. My question is can we move forward and physically split the finances without having a financial order in place? We haven’t actually applied for divorce yet as I was just thinking we could do this one step at a time and sort the divorce out once we’ve moved out.

OP posts:
isthistheendtakeabreath · 20/12/2022 19:35

My solicitor told me not to release any monies until the financial consent order was signed as otherwise he could come back down the line and try and renegotiate (I'm in the stronger position financially)

wobytide · 21/12/2022 00:40

It's possible even if not recommended. If the financial split of the house monies has reasonable grounding that it's likely to be signed off in court then it lessens the risk. But will still require you to acknowledge the risk you are undertaking to get the funds released.

If your circumstances change after that point before you finalise finances then you have the risk you may need to sell to release funds which is the risk basically,

The closer you are to a signed agreement the less likely something could go wrong in summary

Jas683 · 21/12/2022 07:28

Hi

I asked the same question day's ago too. Whilst I think it is not preferable my solicitor referred to the funds "possibly being held" until such times which lead me to believe it is possible for funds to be freed up earlier.

I am in the cooling off period which ends in March 2023 but home under offer and hoping to be processed by end of February. I want to start the process of looking for a new home so it would be real helpful for me.

Good luck for you.

liarliarshortsonfire · 21/12/2022 08:10

I wouldn't as I believe, if you've not got it sorted legally, your dh could then go after half of your new house as part of the divorce

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