Want to leave a mortgage

hellokitty08

hello,

I have said that he can have the house, i dont want any money. I am lucky enough to get a deposite for my rental flat from a parent. (Even though they keep thinking they are going to get rid off me, they never do)

I want and my partner has agreed, that I give him my rights to the house, inlcuding been taken off the mortgage and him, if possible taking it all on, and then i sign the deads over to him (for which i have agreed to pay for)

He said he might just get a lodger and sit on the property for a fews years, to be honest, i dont care.

£130 is our new asking price, having marketed at £135. I dont care if his stuck with it forever, as long as im not.

Have already seen our solicitor, he said cant do anything until we have spoken to the mortgage company. The solictor said though that it could take upto 4 months and cost around £400, but cant see this being the case if all we have to do is sign over the deads. Maybe £400 if OH had to re-apply for the mortgage.

lisyloo

A re-mortgage can take up to 3 months and occassionally longer, but this usually involves a valution.
This might be what he soicitor is thinking.
If it's just transferring names then it should take a few weeks for crorrespondance between mortgage company, land registry and solicitor to get sorted.

DaftMule

dd

hellokitty08 wrote: »

hello,

I have said that he can have the house, i dont want any money. I am lucky enough to get a deposite for my rental flat from a parent. (Even though they keep thinking they are going to get rid off me, they never do)

I want and my partner has agreed, that I give him my rights to the house, inlcuding been taken off the mortgage and him, if possible taking it all on, and then i sign the deads over to him (for which i have agreed to pay for)

He said he might just get a lodger and sit on the property for a fews years, to be honest, i dont care.

£130 is our new asking price, having marketed at £135. I dont care if his stuck with it forever, as long as im not.

Have already seen our solicitor, he said cant do anything until we have spoken to the mortgage company. The solictor said though that it could take upto 4 months and cost around £400, but cant see this being the case if all we have to do is sign over the deads. Maybe £400 if OH had to re-apply for the mortgage.

Sounds like you have a solution you are happy with. Hopefully sorting out the details will not be too painful a process and you will soon be in your new place with a clean slate to start from :j

hellokitty08

I am just hoping that it all comes together so I can move on with my life, just worried that somehow the mortgage company might not agree still. Thanks guys for your help so far, I am begining to feel it might happen now.

hellokitty08

The paper work arrived yesterday and it says he can borrow 4 x his annual salary for the mortgage, which lucky works out at £5k more then the mortgage is for! I am therefore hoping this will all work out smoothly, because his got a really good credit rating, well should have! Still keeping my fingers and toes crossed, before i run for the hills!