Mortgage and Divorce

Mortgage and Divorce

This is now quite common with in financial services i.e. Mortgage And Divorce, here at KPM Financial Services we are experienced in this area and take a view that we will remian stricktly neutral between both parties and our objective will be to adjust the currnet mortgagge arrangement for the benefit of both parties. Our adjustment of the mortgage will be focused on each partner gaining equal benefits.

When a Marrige has broken down and two people decide to split generally one of three situations will appear

1. They have a small family, here the morther tends to keep the property and the farther usually will be taken off the mortgage (this is called a transfer of equity)

2. There is no Dependents (children under 17) and both parties have decided that they would like to sell the proeprty outright and split the surpless (is there is any) the split is usualy on a 50:50 Basis

3. One of the parties has decided they would like to remian in the property and they are prepared to re-mortgage and rasie enough monies to pay the other partie off (again transfer of equity) this will be subjest to their current mortgage provider agreeing to this objective.

The list above is not exhausted but it is the most common three situation we come across, regardless off any situation an Independent Mortgage Broker from KPM Financial Services will be able to help

Mortgage after Divorce

Once the divorce has taken place and the property and been split up as both parties wanted it is now time to move on and if there is children involved, both parties need to work together as if they can't get on it will have a negative effect on the children

How To Take A Name Of A Mortgage

Hopefully both parties have agreed what they intend to do with regards to how the proeprty is going to split up, once you know what you are doing, we can instruct our legal team to start what is called a transfer of Equity which basically means who ever has decided to take there name of the mortgage will have to sign these documents once finished their name will be removed from the deeds and land registery

Data Protection

KPM Financial Services staff are just like you, we hate been cold called and our email in box been full of spam, on this basis we promise to process your data in accordance with the UK Data Protection ACT 1998, we will never sell/share/swap/ your data under any circumstances, your personal details are very safe with our Independent Mortgage Brokers.