Is this complicated or simple?

silvercar

izools wrote: »

Can a new lender use the fact that my father is named on the existing mortgage as a sole reason for not completing / declining?

Thanks for everyone's advice so far, by the way Really appreciate it.

Only in that it is their money so they can do what they want.

Its not really a valid reason to decline. What can happen is that it doesn't fit neatly into their remortgage scheme as the "owners" of the mortgage have changed. Often they farm out their remortgage service to some cheap-as-chips admin organisation, this organisation may not be set up to deal with anything slightly outside the norm, so they choke over your set up. At the same time their main lending operation thinks it a straightforward remortgage so doesn't feel it should be handling the case. The conclusion is you get stuck in between.

silvercar

izools wrote: »

Yay!

"We are pleased to confirm that we can provide you with the mortgage requested. Your lending certificate appears below".

Awesome. let's hope they just pay off the charge from BOS without delving too deep

Does your mother have the same surname as on the mortgage? If so, it is less likely to be noticed.

izools

Oh yes her (sur)name is the same on the current mortgage as it is on the title deed, and indeed everywhere else

kingstreet

izools - this was never going to be an issue at application stage. The case would be offered quite quickly based on what you've said.

It's when the solicitors get the redemption statement from BMS and see it's in two names when the new mortgage is in only one they might perceive a problem. They are acting for the new lender and if they have any doubts about the title to the property they'll have to check it out.

It's why in one of my earlier posts I suggested she might want to give the solicitors the "heads-up" on the situation in advance of them getting the redemption statement.

The solicitor may not be notified to you until the mortgage offer goes out, so she might have to sit tight 'til then.

izools

Well no quite indeed, of course this wouldn't have come up as an issue at application.

I suppose we still have a few weeks or maybe even months to play with now to try and get my father's name off the mortgage. We've fired off a copy of the court order from 1995 to BMS so I guess it's up to them now But certainly the title absolute is very clear in stating that the sole proprietor of the property is my mother, in her maiden name, as of a few weeks after the date of the court order.

Is it normal to see entries on a Title saying things like:

The Transfer to the proprietor contains a covenant to observe and perform the covenants referred to in the Charges Register and of indemnity in respect thereof

I haven't a clue what that means.

I presume Nationwide would use their own solicitors in the case of a remortgage? How would we give them a "Heads Up" as we don't know who Nationwide are using. Would it be their own internal legal team? Guess we'll just 'phone and ask.

Thanks again

silvercar

The Transfer to the proprietor contains a covenant to observe and perform the covenants referred to in the Charges Register and of indemnity in respect thereof

Depends what the covenants are, usually they are minor things like not to keep chickens or to maintain boundary fences on one side of the property.

We've fired off a copy of the court order from 1995 to BMS so I guess it's up to them now But certainly the title absolute is very clear in stating that the sole proprietor of the property is my mother, in her maiden name, as of a few weeks after the date of the court order.

I wouldn't bother with this, you can't force BMS to release one party on a joint mortgage, whatever the court order states. The court can only force the ex to relinguish his right to the property and that has been done.

I don't see what the issue is in paying the mortgage back, if some random person wants to clear my mortgage why would the lender have to OK it with me first?

izools

The issue is of course with Nationwide who will be repaying the mortgage of an account in the name not only of the applicant, but also someone not mentioned on the title absolute or application form.

We'll just have to wait it out now

silvercar

izools wrote: »

The issue is of course with Nationwide who will be repaying the mortgage of an account in the name not only of the applicant, but also someone not mentioned on the title absolute or application form.

We'll just have to wait it out now

I understood that the Nationwide give the money to your solicitor, who uses it to clear the old mortgage. Hence it depends on the cheap-as-chips legal outfit I mentioned in my earlier post.

izools

So would it perhaps be better for mother to use her own solicitor?