Consent order transfer of property

[Speon]

I am going through a divorce process, it’s mainly DIY due to cost. I have to apply for a conditional order at the end of sept but in the meantime I need to pay for a consent order.

we’ve agreed that because I will have the children full time the family home should transfer to me, he keeps the pension and discharge of a large debt to me.

In practice I can’t take on the mortgage as my income is not high enough…any suggestions on what can be done instead? I was wondering about a trustee deed? Also is the consent order still legally binding even if I haven’t been able to transfer the property to my name or will he still own the property despite the consent order?

Thanks for any help

[atticus]

The mortgage will have to be paid. Have you and your ex discussed this? Or is it just an elephant sitting in the room and being ignored?

[Speon]

I can and will pay it (its been agreed between us), but am unable to get a mortgage due to a shortfall in income. I don't want to start paying it (i was already paying my income towards mortgage and bills so technically also a beneficiary i think?) if my ex can then sell the house and keep proceeds as I've been unable to transfer it into my name, even though the consent order should provide for that IYSWIM

Would a trustee deed prevent that? so I can start making payments to the mortgage knowing that the consent order and trustee document would protect my interest.

He is keeping the pensions and also is being relieved of a large debt to me in exchange

[atticus]

I see. I strongly recommend professional advice and assistance in preparing and agreeing a document that will protect your position.

[Pezza54]

You should speak to a good mortgage broker
If your future ex is agreeable to paying towards a mortgage to prevent his children from becoming homeless, then remortgaging with a tenants in common mortgage may be a possibility. You should make sure you have life tenancy
If your financial situation changes or interest rates fall you might be able to buy your ex's share (which doesn't have to be 50%)

[Speon]

So a trustee deed isn’t the best route then? Thanks I will look into tenants in common.

This has just put me in mind of the other issue, remortgaging now will cost over an extra £1000pm as it was fixed on a low rate until 2027. It’s so messy. Thanks I will look into all my options