Mortgage - Transfer of equity / removing name from deed

sdnh2010

my ex boyfriend and i bought a property last year. shortly after that he moved abroad and unfortunately cut off contact. he claims that he would agree to a transfer of equity.
i carried out the outstanding renovations and pay all the bills myself, but he still contributed to the mortgage for a few months.

i discussed the situation with our mortgage lender who advised that he would simply need to send me a signed declaration that he would no longer be interested in the mortgage and they could then handle my application to be the sole owner, essentially treating it as a new application. if i want to change the mortgage product i would have to pay the mortgage breakout fees, apart from that only a small admin fees and my solicitors.

they explained that he wouldnt need solicitors.

he seems to think otherwise. he refuses to sign a trust deed or send me this letter for my application, he wants me to get a conveyancer to start the process so that he can get his own conveyancer.
why would he think that he needs a conveyancer?
but the mortgage company insists that they only need the documetn form him and as this new application has nothing to do with him they wouldnt share any details wtih him (we agreed that the mortgage lender would carry out the survey) or anythign else, as it has nothing to do with him. he would only be informed again once his name is removed.

i am kind of stuck as we go in circles for months and he is not very responsive -which drags it out.

i would be grateful for any further advice or links to clarifying websites.

many thanks

TrickyDicky

You have left out some important numbers:

Can you afford the property on your own?
Whats the property value?
Whats the current LTV?
What is your income?

Senior_Paper_Monitor

It is important for you that he receives legal advice (not conveyancing as such - but there will be a transfer of equity) - if he doesn't he may be able to claim that he wasn't aware of the impact of his actions and come back to you to claim (I suspect that the lender will insist that an indemnity insurance ois obtained, particulalrly if his action is unadvised). There is an additional risk if he has debts and is giving away a share of equity (which will be seen as action to ringfence the equity against debt) and should at least be signing a Declaration of Solvency at the point of transfer (which again really needs a solicitor).

If he is out of the country will probably need a noterary public to process his docs.

I strongly recommend that you also ensure that the answers to Mr Dicky's questions are considered to ensure that you can obtain the mortgage 'on your own'.

sdnh2010

for your responses.
that's really useful, i was not informed that there might be a consequence e.g. if he has debts or if he would have in the future.
the mortgage company did not inform me of that.

yes, i can afford the property, that's no problem, and the mortgage company would give me the mortgage on my own.

i guess it is more for him to get legal advice, as i was unaware that this would be necessary.
could he not send the papers from abroad?

he is waiting for me to "kick-start" the process, but i was informed that my own applicaiton is just between the lender and me and that he would not really be approached by them, just needs to declare that he wants to come off the deed.