Application for change of title declined

C8LNJ

Wh05apk wrote: »

The problem is A&L are no longer lending as such, although I am surprised at their response, as they used to be reasonably good, most lenders will allow shift and offshore allowance as it is presumably guaranteed.

I really think you need to persist with this, and ask to speak to someone about it.

Just thinking what term are you looking over - what is your age?

Im not looking to change anything other than taking a name off, not looking to borrow any more or change terms etc!!

Ive phoned maybe 20 times, I cant speak to anyone apart from a customer service person that cant speak to me about my mortgage. What a mess!!!

Terms a 30yr, im 2yrs into it & i'm 28yrs old.

C8LNJ

meer53 wrote: »

My mortgage advisor is charging me £250. Maybe worth speaking to one first ?

I know I can get another mortgage with ease, its trying to salvage this one & not have to pay a whole host of fee's i'm wanting. Not sure where a mortgage advisor can help there!?

Thrugelmir

C8LNJ wrote: »

Im not looking to change anything other than taking a name off, not looking to borrow any more or change terms etc!!

As has already been said A&L are no longer writing new business. Taking a name off a mortgage is a little more complex that you suggest.

So you'll either have to bite the bullet on the ERC and switch lenders. Or stay as is until the fixed term expires.

C8LNJ

They are willing to allow me to do change the title on the deeds to just my name, but ex has to stay on the mortgage. Not sure of the in's & out's of that or whether ex would even agree but Ive instructed my solicitor to look into it.

Thrugelmir

C8LNJ wrote: »

Not sure of the in's & out's of that or whether ex would even agree but Ive instructed my solicitor to look into it.

From your ex's perspective why would they wish to remain on the mortgage.

Are you buying them out of their share of the property?

C8LNJ

Thrugelmir wrote: »

From your ex's perspective why would they wish to remain on the mortgage.

Are you buying them out of their share of the property?

She wouldn't I don't imagine but she's being amicable-ish. If its stay on the mortgage for a further 10 months until I can re mortgage to save me a large bill then she would oblige.

Already settled regarding any moneys due a long time ago. Getting my house into my name is just the final hurdle.

Thrugelmir

C8LNJ wrote: »

Already settled regarding any moneys due a long time ago. Getting my house into my name is just the final hurdle.

Maybe offer her a sweetener to remain on the mortgage for another 10 months. Considering the amount it will cost you to exit early, a price worth paying.

C8LNJ

Something I could be in agreement to I guess.

So whats the real term differences between transfer of equity & transfer of title?

I understand she stays on the mortgage & titles in my name but what if she went off the rails, can she secure credit against the address? Can she have any attempt at having my house at a later date? Anything to be cautious of??

Thrugelmir

C8LNJ wrote: »

Something I could be in agreement to I guess.

So whats the real term differences between transfer of equity & transfer of title?

I understand she stays on the mortgage & titles in my name but what if she went off the rails, can she secure credit against the address? Can she have any attempt at having my house at a later date? Anything to be cautious of??

Suggest you consult with your solicitor so that all eventualities are properly covered.

C8LNJ

Yeah ive had a solicitor appointed since June (when I 1st attempted to apply for Transfer of Equity), I phoned this morning and they said they will contact A&L regarding the Transfer of Title & let me know the outcome.

I just wondered what the in's & out's were as they never explained!!