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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 10105
Experience:  30 years as a practising solicitor.
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I'm Sebastian , I get DIY divorce last year but on mortgage

Customer Question

Hi! I'm Sebastian , I get DIY divorce last year but on mortgage agreement is still me and my ex , I'm not able to re-mortgage and make agreement just on myself because I'm on iva program also , we both contact NRAM (mortgage) and ask them too take off my ex from that contract so they know and been aware , but because I'm not able to have re-mortgage , or contract just on myself , it looks like we can't do much about that , my ex get all info and letters from NRAM about mortgage same as me , I always pay for mortgage myself and from about one year I pay all bills myself , my ex move out in 2014 November and we been together for 10 years and have mortgage together for 7 years , so My question is : do I have to make any extra agreement between me and my ex , so after few years she can not change her mind and claim anything from me (or take half of the flat) or after DIY divorce i don't have to worry cos she Is not able to claim anything from me?
Submitted: 11 months ago.
Category: Scots Law
Customer: replied 11 months ago.
(Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  clairep80 replied 11 months ago.
HiThank you for your questionMy name is***** shall do my best to help you but I need some further information firstHow much is the property worth and how much is outstanding on the mortgage?Clare
Customer: replied 11 months ago.
Property at the moment is worth around 120000 GBP and outstanding balance is 90000 GBP. Sebastian .
Expert:  clairep80 replied 11 months ago.
HI Sebastian
I have just noticed that you are in Scotland - my apologies for not seeing that before.
I shall opt out and transfer you to the correct section - it will take a little time - but my colleague is well worth waiting for.
Clare
Customer: replied 11 months ago.
ok thanks
Expert:  JGM replied 11 months ago.
Thank you for your question.
Hello Sebastian. I am a solicitor in Scotland and will help you with this.
As your divorce has been granted, the issue of the house and mortgage is purely one of property law and not divorce law. The position is that you are no longer husband and wife; you are simply two people who own a property jointly. Technically your ex wife is entitled to half of the value of the house by virtue of her one half ownership. You could make an argument for some of that to be offset to take account of what you have contributed by way of the mortgage payments and other costs of it came to it.
However, the main problem is that you can't take the mortgage in your own name because of your personal circumstances. I presume that an alternative lender would not lend to you either because of the IVA.
The only thing you can do at this stage, short of selling to someone else, is to have an agreement drawn up formally between the two of you to say that she is holding her half of the property in trust for you, that she has no financial interest in the property and that she will transfer the property to you on request at any time in the future. If there is a survivorship clause in the title you both have to agree to waive that as well in case one of you dies. The document I am referring to will be called a Minute of Agreement but is sometimes called a Deed of Trust. It is very important that you get this done soon.
Happy to discuss further.
I hope this helps. Please leave a positive response so that I am credited for my time.

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