Transfer of equity and title deeds.

Inforapennyinforapound

I would be grateful for advice please: This follows on from a previous thread.

Advice from anyone 'in the know' most welcome.

My wife and i are divorcing.The decree absolute canbe made in a few days time.

We have agreed on the financial split and are trying to draft a 'Consent Order',although we may just do it between ourselvs as all is amicable.

My ex wnats me to have the house(she has a new partner with his own house!)

The house is worth £170,000.the mortgage is £40,000 but Santander will NOT transfer the equity to me so my only option is to remortgage in my name with my income.I have been told that this should not be too much of an issue as there is only a default with experian from 4 yrs ago(settled)

My question is how do i change the TITLE of the property into my sole name so ther is a complete split from my soon to be 'ex' and the house then will belong to me?

Do ineed her signature and the help of solicitors as obviouly the mortgage is only the 'loan' part of the ownership.Strangely enough Santander will allow me toremove her from the Title but will not remove her from the Mortgage which will also hinder her efforts to buy her own house.

Messy or what?

Thanks all

meer53

A transfer of equity will be needed, your ex will need to sign the equity over to you. You will need to speak to your lender about this. There is a form you both have to complete, your ex will need to get this witnessed by a solicitor, even if she is agreeing to it. I just paid £320 for mine.

Dave_Ham

Actually, all you need to do is get a mortgage in your sole name and then take this to a solicitor.

The solicitor will amend the land registry and title deeds, although you will require both your Ex's signature/approval and pay an extra £150-200 for this undertaking...

All the best

Inforapennyinforapound

Thanks very much...its all so much money all the time....divorce court,solicitors,banks etc etc...is marriage really worth this hassle?!!....bah humbug

Thrugelmir

Inforapennyinforapound wrote: »

but Santander will NOT transfer the equity to me so my only option is to remortgage in my name with my income.

The mortgage is currently in joint names. You need to apply for a mortgage in your own right. So you should get this underway as soon as possible.

Let your respective solicitors deal with the legal paperwork (transfer of equity) as part of the financial settlement related to the divorce. The original mortgage will also need to be redeemed.

meer53

Dave_Ham wrote: »

Actually, all you need to do is get a mortgage in your sole name and then take this to a solicitor.

The solicitor will amend the land registry and title deeds, although you will require both your Ex's signature/approval and pay an extra £150-200 for this undertaking...

All the best

I've recently remortgaged in my sole name too, my solicitor sent me the transfer of equity form. I signed this, then it was sent to my ex who had to get his solicitor to sign it, he needed to provide a passport photo too and his solicitor had to verify that aswell. I've just had the letter from the Land Registry confirming it's all done.