taking my name off a title deeds

sunnyv

Dear all,
I need your help on a few issues I have with "title Deeds"

I have a retail outlet in UK, the business is in partnership with dad and myself, for financial reasons I need to remove myself from the business.
We are planning on doing a re-mortgage, but my credit rating has been damaged and the likely is I won’t get a re-mortgage for that reason.

I have £100,000 left to pay on the mortgage with Natwest.

1) Would my current mortgage provider ( Natwest ) object against taking me off the deeds ?

2) Is it possible to apply for the re-mortgage solely under my fathers name with a new company and then apply to the land registry to take me off the deeds + what are the chances they will do that ?

3) Is this something I can do myself or should I got a solicitor to help, I have email the Land registry for help but thought some of you guys could shed some light on the subject.

If this is possible, I don’t mind signing my share of the business to my father for £1 or what even is required.

Thank you for you help in advance….

Sunny

property.advert

Is this in your names or the company name with you as guarantors ?

sunnyv

Unfortunetly its in mine and my fathers name, my accountant desided not to put it as a company name at the time we started trading.

thanks

property.advert

That makes it easier. All that would be required would be for you to agree to relinquish your interest in the property and crucially, for the lender to allow your father to take on sole responsibility. I suggest you start with the lender and get their feelings on this.

I did this through a court order written up by a lawyer when I got divorced but that was because of a court case. It is a simple statement with a few clauses. You sign, your father signs, job done (subject to the bank). Then register in your father's sole name.

sunnyv

Thanks for your feeback, should I apply to remortgage first, as I dont think Natwest will me do this, main question .....can you re-mortgage first soley under my fathers name then change the title deeds ?
thanks