Equity on sale

[Dockydooda]

Good morning all,

In my financial order after divorce it states that I get 70% and ex gets 30% on sale of house.
We have both agree that my 70% isn’t enough to get a suitable property so ex wants to loan me his equity and I pay him back monthly,
does anyone know how equity sharing is checked on sale as i can’t afford to pay a solicitor and would it go back to court even though he will still get his 30% but just monthly x
thank you all

The equity will be divided by the solicitor to each of you in the appropriate amount to an account in each name. Any further loan arrangement after that is up to the 2 of you to organise as a complettley separate agreement.

Sounds like you need a loan agreement with ex, but it does need advice to do properly. Also check if mortgage companies, if you need a mortgage, will accept the arrangement. You may have to disclose it and some won't want it.

Thanks so much, do they ask to see your financial agreement or do they just ask how you would be both like it split?

Thank you!
I wouldn’t need a mortgage with the equity, just a bit more of his share, the order doesn’t specify if I have to give him his share as one lump sum or in instalments…. I’m just trying to avoid going back to court or spending a lot of money on solicitors when we both agree but I understand that it has to done properly 👍

Hi, just wondering how this all panned out for you as in a similar position...

Edited as hadn't seen this is an old post!