Re-Finance for a Separation Settlement

Separation of a relationship is never relationship-break-ups-dealing-with-grief-of-separationa pleasant thing to go through.  Each party will have their own reasons for the separation and as a professional acting for one of the partners it is important to respect each party and try to do the best you can to resolve the issues in the separation as swiftly and professionally as possible to allow both parties to move on.

We recently helped a client who was in the middle of separation proceedings, and as part of settlement had agreed to payout his ex-partner for the property that they both once owned.

We worked with the client to discover which lenders would be able to help him and then presented the client a number of different options to choose from.  We had to keep in mind the circumstances around the re-finance and ensure that the lenders selected allowed a re-finance in the circumstances.  The client chose the lender he was happy with and we lodged the application, which included a re-finance of the client’s current loan plus cash out to pay out his ex-partner.  Given the nature of the case, there were delays in receiving documents from the other party however we worked with both the client’s lender of choice and solicitor to help ensure that all parties acting for the client knew where we were at and required adjustments could be made, which in the end resulted in a smooth settlement of funds from the lender.  As this was a difficult time for the client we like to think we played some small role in helping him, and making the situation and the stress that little bit easier.