re-mortgaging/legal gift/declarationof assets????

He is trying to do all the finacial agreements via mediation but ex wife not cooperating...he is the leaver though. At the same time I am trying to remortgage a property I own and seem only to be able to do this by including him in the application...lenders are getting very tight and I am self employed.Its a BTL mortgage so no risk for him as already have tenants paying twice the mortgage...my question is though..if he has to swear a form E( if mediation breaks down/doesnt get started) can we avoid his being assessed as having this as an asset by my pre-empting this in his gifting the property to me? He is willing to do this if needs be. I did this with my ex within a Clean Break agreement and all we did I think was sign a contract in the solicitors office. and how likely is it that anyone will discover it? It is a post separation asset to, so does it count??

The main problem here is that there is a deceit to begin with as you are misrepresenting the position with the mortgage lender.

I have seen similar schemes and the first thing the wife will ask is "what is the husband''s interest in the joint property?". If he answers "nothing", the next question is likely to be "does the mortgage lender know the true position? Can we have a copy of the mortgage application?" - at which point your finances will be known to the wife.

Charles

thanks for your prompt reply..the situation is that we are however living together ( not known by ex or kids as too early for kids) and are life long friends..I thought as it was a BTL mortgage people often entered into such agreements as kind of a business arrangement.

maybe I''m being blonde but is there at any point in a mortgage application a question concerning the nature of the relationship between the two applicants? I had a previous mortgage with 2 college friends, that was very much a business/investment thing.

You would have to be crazy to get a mortgage with a man who has not got a financial settlement regarding his marriage. Sorry but I would not do anything like this until there is a final and formal agreement in place.

Close one door before opening another.

I understand that but as I stated its a buy to let and I will be making money not paying it out, its not where we are living, which is rented and we are both sharing costs.If I was dependent on his paying the mortgage I would indeed be certifiably mad!! do you know anything about ''gifting''/deed of trust? He is willing to do this if necessary.

It''s nothing to do with who will pay or whether the property will make money. In fact that makes it worse!

His wife will no doubt see pound signs in her eyes if you go ahead with this. Your partner will have a assets and additional income whether they ar "gifted" to you or not. Imagine you are in his wife''s position, if he bought a new house and gifted it to his new partner then would you not be saying "hey hang on a minute!!!!!"??

Doing this will adversely affect his divorce settlement and may be dangerous for you too. You should make sure he has a Consent Order before doing this kind of thing.