Help please - Transfer My Name Off Mortgage Fee

littlerussiandoll

Hello, would appreciate any advice here. Am currently going through a divorce and I will transferring the mortgage over fully to my ex. I have called Northern Rock and they said there will be a fee of £265 for this. Is there any way this can be reduced as I am on low income and legal aid as it is. Any advice appreciated greatly. Thank you.

kingstreet

On top of the lender fee, there will also be a solicitor's fee for the required transfer of equity to remove you from the deeds to the property at the land registry.

The total for the solicitor and Northern Rock will be in the region of £600.

It is usual for the party wanting the transfer to pay the fees. I don't know any way of you avoiding these costs, other than for the other party to pay or to put the transfer off until such times as you can afford it.

littlerussiandoll

Would there be a solicitors fee even though I am legal aid?

kingstreet

I'm sorry to say I have no idea if a TofE is possible under legal aid.

I doubt it, but check with the solicitor handling your affairs.

littlerussiandoll

Have been doing some more research this afternoon and there seems to be 3 other possibilities.

1 - My ex remortgages and I sign the paper to agree to this which means I don't have to pay anything and he pays any charges

2 - My ex requests my removal and again that means he pays the charges

3 - There may be a private way of doing things without the solicitor by directly going to the land registry? Any more info on this?

Thrugelmir

If your ex is retaining ownership of the property. Then seems only fair that they pay all charges relating to the transfer of the property. Your contribution can be settled from any division of the assets. So not incurring you any cash outgoing.

meer53

I've just paid my solicitor £320 to have my ex removed from our joint mortgage. I got free solicitors fees included with the remortgage but the transfer fee was extra.

littlerussiandoll

meer53 wrote: »

I've just paid my solicitor £320 to have my ex removed from our joint mortgage. I got free solicitors fees included with the remortgage but the transfer fee was extra.

I am guessing this is a similar amount you would pay for a remortgage anyway if you are not at the end of your term yet? Hopefully since my ex will be keeping the house he will just remortgage the house then to remove my name with my permission. Am getting my solicitor to find out if he already has plans/ideas. Hopefully I can convince him to take care of it and I can just sign the dotted line!

kingstreet

littlerussiandoll wrote: »

since my ex will be keeping the house he will just remortgage the house then to remove my name with my permission

That's what I was hoping you'd say when I suggested it in post #2!

littlerussiandoll

Thank you so much for your advice, I will see what comes back from the solicitors now and try and push so that I do not have to pay for anything

@KINGSTREET I didn't mention anything about financial things in my divorce papers because there is nothing I am after so I am guessing that I can still get my decree absolute before thats sorted? Sorry my solicitor isn't great at communication!