Separation and joint mortgage advice

[PeterParker]

Hi All,

Thank you for accepting me into the group.

Just looking for some advice on the post title and wondered where would be the best place to post.

Thank you.

[atticus]

By all means post here.

[PeterParker]

Thanks Atticus.

My Wife and I are currently going through the process of separation with mediation provided via Relationship Scotland. We own our house jointly and she wishes to keep the house as we have 2 young children and it would be more beneficial to them to stay in their settled home. She claims her financial advisor has told her we would be lucky to get £20,000 each if we sold the house, so she has offered me £20,000 to buy me out. Last night I was unexpectedly presented with a document which I have copied below with personal info omitted for privacy.

We, myself and wife, residing at our house registered proprietors of the subjects and others hereinafter disponed IN CONSIDERATION of the sum of TWENTY THOUSAND POUNDS (£20,000) STERLING paid by me the said wife to me the said myself DO HEREBY DISPONE to and in favour of the said myself and to his executors and assignees whomsoever ALL AND WHOLE the subjects known as our house registered in the Land Register of Scotland under Title Number 123; WITH ENTRY and actual occupation as at the date of execution hereof; And we grant warrandice: IN WITNESS WHEREOF this document is signed by the granters and witnessed as shown below:-

……………………………………… …………………………………………………
Signature of Witness Signature of Myself

………………………………………………….
Signature of Wife

……………………………………... ………….………………………………………
Name of Witness Place of Signing

……………………………………... …………………..……………………………
Address of Witness Date of Signing

………………………………………

If I were to sign this would that mean the house was instantly hers from the moment of signing? I am increasingly sceptical of the figures being said to me so I did a bit of calculation shown below on my findings, would there be any other costs I am missing that would come into consideration here?

Current valuation of property = £185,000
Scottish Government help to buy scheme 20% to be paid back = £37,000
Balance outstanding on mortgage = £65000

Cost of selling a house I'm not sure on but a quick Google search tells me the average cost of selling a house in Scotland based on a house value of £187,000 is around £6200?

So if my calculations are close to the mark that would leave approximately £76,800 so £38,400 each so nearly double of what is being offered.

I am being pressured into signing even though nothing else has yet been agreed with the kids being used in an emotional sense to influence my decision. I should also add that she has had 3 confirmed affairs with other men in the time we have been a couple so I feel like I cant trust anything she says, the latest affair is still ongoing.

I apologise for the rather long winded post and will be extremely grateful for any advice anyone can offer me.

Kind regards.

[atticus]

OK, I am going to ask you to post this in the Scotland forum - https://legalbeagles.info/forums/for...orums/scotland