How do I split the equity in my property for a divorce with my wife?
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I am getting a divorce and need to split the property I own with my wife.
andy1234
1 year ago
Expert Financial Adviser Answer
Darren Smith
answered 1 year ago
There are many ways to split the equity. A clean break can only be achieved where both parties agree the amount involved and one of them has the cash to pay the other off.
it may be possible for one party to buy out the other by taking on a mortgage and raising the extra capital but this will be limited by that person's ability to get a mortgage and the lender's opinion of the value of the property.
a good divorce solicitor will help with the initial steps but you will need to use an IFA to sort the mortgage side of things as your current lender (if you have one) might not be willing to help whereas another lender might.
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it may be possible for one party to buy out the other by taking on a mortgage and raising the extra capital but this will be limited by that person's ability to get a mortgage and the lender's opinion of the value of the property.
a good divorce solicitor will help with the initial steps but you will need to use an IFA to sort the mortgage side of things as your current lender (if you have one) might not be willing to help whereas another lender might.
