Family & de facto law, financial agreements, consent orders
Others will help with your substantive question, but one point you need to consider is the refinancing?
Are you able to service the mortgage? Be aware that banks have tightened up their lending rules and it is possible that these rules will be tightened up even more in light of the findings of the royal commission.
It might pay to get your financier signed up early in the piece or you may need to rethink your plans completely.
Thanks for replying.
I am able to service the mortgage. There is enough equity in the property that it shouldn't be a problem (we've been there almost 9 years) and I can afford the repayments without a problem. If all else fails I am in the incredibly fortunate situation of having family who can guarantee the loan. The current mortgage payment is quite a bit less than what I would be paying in rent for the same property.
I have spoken to a broker already, but they want to see the draft consent orders (to assess the amount I will be borrowing on top to pay out my ex) before going any further. He believes that given I have a good credit rating, no other debts but have always paid out loans on time, steady income (been in the same job 10 years), then it shouldn't be a problem.
And if all of that fails, I'm quite prepared to sell and start over.