Just found this great forum. Would be really gratefull for any advice.My partner is nearly reaching settlement with his ex, she has agreed to a lump sum and the house to be signed over to my partner.We are not sure if he will be accepted for a mortgage alone, and I have a property to sell. What we want to do is for me and my childen to move into his house, but not sure if she would have any claim to the equity in my property. We want to use the equity to pay her off, and for maybe my name to go on the mortgage. My house is up for sale but she doesnt know about it.
Don`t do anything until your partner has a court stamped Consent Order, until then its all up in the air, you both need the court sealed consent order to give you finality only then can you be safe and move on with your plans.
Part of the settlement includes a commercial property due to go to auction next month, so can a consent order with conditions be set, for example if the commercial property reaches x amount of money, then I will pay x amount settlement?
Yes that is what a consent order is, it says who gets what and yes you can have set provisions to say if the property sells for £x it is distributed in the following way, why not call the wiki helpline and they will explain how it works.
I think we need a consent order then! The dilemma we have is that he may not be able to carry on with the mortgage alone due to his credit rating going down during hard times at work. Would we better to say on the consent for that we intend to cohabit. I have 3 kids, he has 4. We were going to use my equity to pay off my debts, his debts, and her settlement. Then we will start from scratch again really with quite a high mortgage and she gets a 60/40 settlement in her favour. If we say that we don''t intend to co habit, then we do, will the consent order be overturned?