Change name on mortgage

aw101

Hi,

Can anyone help me. I currently have a mortgage with my ex husband (now divorced) and wanted to know how I change the name on the mortgage and deeds to my current partner.

My ex husband is in agreement of me having the house as no longer wants any involvment with it.

Mortgage is with Abbey, no payments have ever been missed. Do they just see if he can afford to pay and then change the name from my ex to his name? Also, can I do the land registry on line or does it need doing through a sloicitor?

Thanks for any advice.

Debtwatcher

This is actually more complicated than it looks and will need to be referred to your lender. They can in certain circumstances refuse to take your ex off the mortgage. This is because it was a contract between the lender and you and your ex. You will effectively need to go through a solicitor to a). Ask if the contract can be cancelled. b). Go through a new application using your new partners details.
I know this might sound rediculous and is more costly than just applying for a new mortgage, but what you don't want to do is continue to pay for the mortgage yourselves and have your ex come along some time in the future and say oh yes half the proceeds of the house are mine.
You need to get this sorted asap
Hope that helps

aw101

Thanks for this, I was hoping to avoid having to apply again for a new mortgage. Will speak to the lender and see what they say.

SelbyJay_2

If you're adding a new name on to the mortgage, you will have to make a new application as you will have to meet affordabilty etc.

I took a name off my Halifax mortgage and it was a nightmare meeting their affordabilty. In the end, my mum had to pay off a personal loan so that i could get the mortgage in just my name. I then had to pay around £300 in fees for taking the name off.

Trying_to_be_good

As others have said, there will be legal costs associated with a new mortgage application (it's not a remortgage as the names are different, so is unlikely to be covered by 'free legals'), and also with the transfer of equity (transfer of names) on the title deeds.

When I asked about this, it was estimated at £500 legal costs. There was also stamp duty to pay as half the house was being 'sold' (in this case to me, so I owned 100% of the house, not to a new partner).

I'd suggest you get some legal advice early, so you know the costs, and good luck.