Mortgage in sole name

LiamDionne

Hi all, me and my girlfriend have recently seperate and we own a property with negative equity due to the house crash.

She said shes willing to sign the property over to me, but does that mean our current mortgage would be closed and id reapply on my own, having to pay fees etc all over again?

Is it possible to have her kept on the mortgage but have a solicitor write up a contract saying shes only staying on it so i can keep the house but she agrees the property is 100% mine?

I hope this makes sense.

Dave_the_Ginger_Cat

There are some factors to consider here

Any new lending would be considered in your own right - you'd need to satisfy the income multiples and any lending criteria.

You might conisder asking for a contribution for the negative equity from your former partner. The way you describe it, she'd be walking away from a debt not an asset

I'll leave someone better qualified to answer your solicitor question but I think the answer may be no

Thrugelmir

LiamDionne wrote: »

Is it possible to have her kept on the mortgage but have a solicitor write up a contract saying shes only staying on it so i can keep the house but she agrees the property is 100% mine?

If you were her would you sign such a contract ?

All risk no reward.

There in lies the answer.


Have you sufficient savings to clear the negative equity if need be?