Divorce, selling marital home and a 2nd charge

[plinketyplonkety]

Can anyone help with this please?

I’m currently in the middle of divorce, we are selling the house with completion due in mid April so it’s all happening soon.

Our house has a second charge which my ex-husband has agreed to take responsibility for. This is around £22k.

However, we are having problems negotiating the financial settlement and Ex refuses to instruct a solicitor so communication with him around money is very difficult.

Does anyone know what happens at the completion stage, when the money comes in?

I’m presuming the first charge, our main mortgage, is taken first, then the second charge, then the agent and conveyancing fees get paid after that. Is this right?

If my husband has agreed to take responsibility for the 2nd charge (around £22k), does anyone know if this amount then gets put back into 'my' funds by the conveyancing solicitor?

We are currently disputing who gets how much from the remaining capital - I want 62.5per cent, he is offering 60 per cent but is a much higher earner and we have a young child - and he is refusing to budge. However, I have worked out that if the £22k second charge money then gets put back into 'my' pot, it comes out as the 62.5 per cent that I am asking for!

I'm a bit confused by it all - I will ask my solicitor about it but she has rather overlooked the second charge aspect, which is a bit worrying.

thank you for any advice.

I should add that the second charge was taken out for my ex-husband's business. I was very unhappy about it at the time and was pressed against my will to accept it. He also increased the amount without my consent, which caused a lot of unhappiness in the marriage.

Did you have separate legal advice on the second charge? If not it may be invalid as against you actually which may be why he's agreed to take it on.

What is the 2.5% worth? If not much not worth arguing over probably.

Normally the solicitor receives the payments from house sale and then pays everything out on the same day - lenders - then things like estate agents etc.
Has your ex agreed to pay the bank the £22k on sale of the house? I assume so in which case the solicitor will pay both loans at the same time. If instead your husband has persuaded the business' bank that even though the security is going your ex will take on the loan without any house as security and make the payments (I very very much doubt the bank would accept that) then that is different. If that is the case you need to see all the confirmations from the bank that even though the security is being sold the bank does not want to be paid from the proceeds!

What you might do is not allow the completion to take place unless you and your husband have a signed financial consent order ready to be sealed by the court which you cannot back out of. I can think of no other solution which avoids the £22k being paid from proceeds of sale to be honest.

Thanks LotusLight. As far as I know my husband has not agreed with the bank to simply make payments with no security - and yes this is myfear, that the solicitor will simply pay out the £22k, leaving me short. I was not due to pay the £22k, he was, and he is refusing to budge on the % so I will be seriously out of pocket if I don't do something urgently.