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Old 6th Nov 2018, 13:31
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Join Date: Apr 2004
Location: Richard Burtonville, South Wales.
Posts: 1,804
Asset Sharing on Divorce- A Question

My daughter is at home with us separated- looks like divorce. They have 2 properties, the 'home' and an investment flat in liverpool. Both are joint mortgages. The home is up for sale, and will go at some point. Probably!

The Liverpool pad, one bed, 8th floor of a noughties tower block in Cheapside, was bought on an interest only mortgage and is in negative equity (100K vs 138k mortgage). The neg equiity means they cannot transfer it to a repayment mortgage without a 38k cash injection. So they are told.

The question. Can he, 'give' the flat to her, so that she can work to get it on a repayment (he has no disposable income, she does) and start paying down the debt? She thinks he would agree, since both would like rid of it, IF it can be done. She can certainly afford to service the debt.

As it stands, both will be hit (again) with the 2nd home stamp duty thing. Another reason we think he's agree.


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