Partner taking over mortgage alone

debra1969

Hope this is in the correct place. Our mortgage deal was due up in February, and as I am paying back a credit card on an arrangement, we were told that most mortgage places probably wouldn't touch us because of me. We were advised by a mortgage advisor to put it solely in my partners name.

This has been going through, as he got the mortgage approved straight away. Today though I have received forms to complete which are to change the title deeds. They also want me to either pay a solicitor or go to their offices (which isn't near me) to have a identity confirmation form completed.

This is all getting me abit gittery now. We did this because of my financial problems, but obviously I am signing off any claim to the house? is this correct? Also does my name need to come off the title deeds even if I am not on the mortgage? I know I should speak to a solicitor but I just can't afford it.

any advice (good or bad) would be greatly appreciated

thanks

VIGILANT22

First you don't get advice here...only opinion....

The information you have rcvd is correct...the adviser should have made you aware of this....they don't offer advice that comes under legal advice but good practice would have made you aware of what is involved.

Yes if your mortgage is going to be in partner's name you come off the mortgage and the deeds....

If you want to protect your share/deposit you will have to have some type of legal document drawn up and yes you will pay....as I am sure you understand nobody works for nothing...

Thrugelmir

You need to speak a legal advisor and arrange for a "Cohabitation Agreement" to be drafted.

Google the term and you will find a service that can assist you. Its not particularly complex but needs to be worded correctly and cover all eventualities.

More and more couples now live together without getting married, but, no matter how long the relationship, the law still effectively treats them as separate individuals with no rights or liabilities to each other if the relationship ends (unless they are same sex couples who have entered into a formal civil partnership).
This has some far reaching consequences for such couples (of whatever sex or combination of sexes), particularly in relation to their home (most people's biggest asset).The majority of couples fail to consider this until after the relationship has ended.
Unlike married couples, unmarried couples have no basic rights to their partner's property or to maintenance if they split up. Basically what is his is his, what is hers is hers, and what is jointly-owned needs to be divided.
This applies to the home as well. Therefore if a house is bought in joint names (either as beneficial joint tenants, or as tenants-in-common - then it should be split accordingly on separation, and either party can force a sale of the property to realise their share. If the parties are contributing unequally to the purchase price, or to payments on the property, then this should be reflected by being designated as tenants-in-common and holding unequal shareholdings (say 70% and 30%), rather than the equal shareholdings of beneficial joint tenants.
If the property is in the sole name of one party then basically it remains that person's property on separation, unless the other party can establish that there was a common intention that they would be entitled to a share in the property. How do they do this? Here are a few examples

• It may have been agreed in a simple conversation (proving it tends to be the problem!), or in writing between the parties at some time
• If the other party has directly contributed to the purchase price the courts are likely to accept that at least part of the property should have been in their name
• If there has been an "understanding" between the parties and the non-owner has acted to their detriment as a result (eg contributed to mortgage repayments, paid household bills, or, perhaps, sold their own property) then the courts may agree they should share in the property.

The parties can, of course, come to an agreed settlement, but if not, such disputes can become messy and expensive.
It may not sound too romantic, but it is quite legitimate for unmarried couples to enter into an agreement when they start living together to try and cover any disputes on property if they should split up. Its worth considering.
If you own your property as joint tenants and your relationship breaks down, one of the first things that you should do is to sever that joint tenancy. This converts the joint tenancy into a tenancy in common, which means that you will have a distinct share in the property that will NOT automatically pass to your former partner/spouse.

choccybuttons

Hi

We did this when we took out our mortgage as DH had very bad credit. Only we are married so big difference. Def need a co-habiting agreement and some legal advice. Perhaps start with citizens advice first.

xxx

VIGILANT22

CA are "very nice people"...however they will only direct you toward legal advice as this is what is required as per "the opposite side's solicitor's letter"...They have a legal obligation of informing you of this, this is why it is included in the letter...

Trollfever

VIGILANT22 wrote: »

CA are "very nice people"...however they will only direct you toward legal advice as this is what is required as per "the opposite side's solicitor's letter"...They have a legal obligation of informing you of this, this is why it is included in the letter...

And this is where they may send you:


http://www.communitylegaladvice.org.uk/index.jsp


.

picardygirl

VIGILANT22 wrote: »

First you don't get advice here...only opinion....

You can get advice here Debra1969 .... there are some very experienced posters on here who can advise you who the best people to contact are etc etc without being judgemental ...... there are also lots of us on here who cant give professional advise but can give our own experiences in similar situations which is of course opinions only ...... whether it be right or wrong it always good to be able discuss to other people in similar circumstances .

Hope you find the answers you are looking for

getmore4less

Do you actualy need to change mortgage?

The existing deal will continue at a follow on rate what is this?

Mobeer

picardygirl wrote: »

You can get advice here Debra1969 .

NO - you cannot get advice on this forum - see the posts 12 & 13 in the forum rules:
http://forums.moneysavingexpert.com/showthread.html?t=305655

I quote:
"do not give advice"
"It's important to remember any posting of information is the opinion of the person posting only"

picardygirl

Mobeer wrote: »

NO - you cannot get advice on this forum - see the posts 12 & 13 in the forum rules:
http://forums.moneysavingexpert.com/showthread.html?t=305655

I quote:
"do not give advice"
"It's important to remember any posting of information is the opinion of the person posting only"

Agreed .... fair comment ..... i will admit when i'm wrong and in this case i am .... but it is a place to come and get help and be guided in the right direction hopefully !