getting my name removed from a joint mortgage

level200

Hi Guys

[FONT=&quot]I separated from my ex last year, we have a joint mortgage. I moved out and now how my own rent/ bills to pay.

How would I go about getting my name removed from the mortgage and signing the house over to my ex? I'm not interested in getting a share of the value as we have just been paying interest only whilst we worked on the house. In addition to this I want a clean break and gradually get back on the property ladder in the future.

Cheers for any help and advice
John[/FONT]

BitterAndTwisted

First you need to secure your ex's agreement but it will only come about if your ex earns enough to be able to remortgage on their own income alone.

My sister decided to leave her husband a while back and was paying £750 a month plus CT and bills to live elsewhere. She still carried on paying her half of the mortgage until they settled things. It only seemed fair under the circs.

princeofpounds

- Ask the ex
- Ask the mortgage company
- Get a solicitor to enact the transfer of mortgage and of house.

These things are often not straightforward because the mortgage company will not always give up a the security of an extra worker named on the mortgage unless they get something for it like a higher interest rate or more security.

claretmatt

This will be treated as a new mortgage application in your ex's name. The following will need to be accounted for:-

1. Penalties on existing mortgage
2. Equity in property
3. Ex's salary / debts etc
4. Ex's credit history

Existing lender would be first port of call, but other companies view applications differently.