Five years after my ex left and I am still in the FMH. It took 2 years to get the financial order, one year to get him to sign it, two years of waiting for the house to sell. I have finally accepted that there will be no buyer for a long time and have offered to buy him out. He said he was agreeable so off I went to the building society to enquire about taking over the mortgage. While I was waiting for my appointment interest rates went up. It will cost me a lot to pay for the hosue as I have to get a repayment mortgage and start paying all over again, payements will be at the Absolute maximum that I can afford but I have got to get it started now otherwise I will have to pay even higher amount per month to get it all paid off before retirement. I will be paying to the end of my working life.
The building society gave me a form for him to sign to say he agrees to my application for the house to be transferred to me. They said to get it back by xxx date or the rates will go even higher. I was sure he would co-operate but he is refusing to sign the form until he gets his share of the equity and all the legalities are in place. There is no way this can be done in a week obviously. If I wait the fixed rate I had agreed to will no longer apply. He says he has talked to the building society and they said the form signs away ownership but they said to me that it doesn''t and nothing is finalised until he signs legal documents and land registry stuff goes through. I am really devastated at the thought of losing out on my chance of buying the house, my home for 15 years, or the thought of 3 years higher mortgage because of his refusal to sign. I don''t know why he would want to stay on the mortgage anyway as he refuses to pay his contribution.
Who is right? Surely it is obvious that you would need to do the transfer legally. Has anyone else done a buy out? How did it work? Thanks for any help anyone can give.
The building society is right and he is wrong. He needs to speak to a solicitor who will set him straight. Only an executed transfer, registered at the land registry, can transfer ownership. He''s not being asked to sign one of those at the moment.
Further to my previous query, months have gone by and still I don''t have the signed form. Ex is demanding that I send him a large sum of money before he will return it.
We have agreed a house value and the amount due to him is the same as my share of an endowment we have. I have suggested he keeps the endowment and cashes it in if he wishes but he absolutely refuses, He wants the money up front and then we should cash in the endwment. I don''t want to do tis as I think it will just give him a chance to drag things out further and keep the wrangling going. He could even refuse to cash it in until 2025 which would leave me in financial difficulties. I also don''t want to snd him money when he still owes me a fair amount and have spent thousands in legal fees to get to this point. So still it goes on.
Is there any way I can get the form signed? Is there any way to end this?
Definitely do not send any money as you will never see it again & IMO it will get "lost" - what money etc etc.
He cannot blackmail you into sending money just to get the form signed, look at your Consent Order, mine gave me 54 days (or best endeavours) to secure my new morg, & then gave x 43 days to sign the forms.
X did of course take longer, wanted wording (on official forms changing from the above named to my actual name!) then wanted a copy of my full morg offer statement from the building society!!! He got the first page not the bit with all my financial details on!
I then had to write & threaten court before he "decided" to sign in it - basically he had run out of stalling tactects.
Have a look at your CO, ring the court & ask their advice, by not signing the doc (in my case) was breaking the CO so I could action it - hope yours does too. PS I never saw this bit, owe that bit of luck to Dukey who pointed it out - Thanks Dukey.