Inevitably this is the case and we will always do our best to help clients in this situation. However, it is very important that there is a sealed financial consent order in place before we will be able to progress your case and in this regard, we would recommend that you take independent legal advice and that your spouse does the same thing.
Your Lender will want evidence that both parties to the divorce have had the benefit of legal advice and that both parties have come to a financial agreement that the Court has sealed. Once they have this and have the relevant undertakings from the solicitors acting in respect of the divorce, then the transaction will be able to proceed.
If both parties are on the title to the property and there has been no independent legal advice for both parties, your transaction will be unable to move forward.
Your Lender will want the security that they are providing you with your equity release and that there will be no legal come back from any estranged party who may say that they did not receive the correct legal advice.
Should you have any questions in this regard, then please do not hesitate to contact one of our team to discuss.
