Help getting off a joint mortgage - desperate.

tchock2012

Hello,
I've just signed up to this forum but have been a passive observer for many years!

I really really need some sound advice on what to do... this is my story so you know all the details and the position I'm in.

Back in 2007 me and my ex-partner split up. We had a house/mortgage together. After the split I said I wanted out of the house, as it was her who caused the split, I wanted nothing more to do with her and to cut all ties to her. I didn't want any money from her or cause any problems, I just wanted out.

For around a year I was contacting her solicitors who were supposed to be taking me off the house. I received various land registry forms and such and signed them etc.

Today (almost 5 years later) I checked my online HSBC banking as I was making sure my standing order had changed correctly and I clicked on the 'mortgages' section by mistake.

To my horror I saw that I still had a mortgage, still in joint names. But she has been paying it for the past 5 years, without defaulting or anything.

She works for HSBC and has since moved to Dubai. I believe she is now renting the house.

Where do I stand? I just want out. Its dawning on me I am now liable for a property Ii don't actually own according to the deeds. I stupidly thought that it had all been sorted. I never get mail or correspondence from HSBC re the mortgage... its been sat dormant. I only realised I was still on it by chance.

What can I do? I see my life totally in her hands, I'll never be able to get a mortgage of my own as I technically still have one. One I wasn't aware I still had.

I've emailed her (in Dubai) asking if she can take me off it as shes actually married now.

What if she doesn't take me off? What if she won't get a mortgage in her name? I never officially knew it was being rented either, just heard third party through friends.

I feel totally helpless. I contacted the bank over the phone and as far as their concerned the mortgage is mine (ours).

If she sells, its in negative equity, so I'll have massive debt. If she refuses to transfer I've got a mortgage on something I don't own.

Someone please help me. I wont be able to sleep.

Thrugelmir

tchock2012 wrote: »

If she sells, its in negative equity, so I'll have massive debt. If she refuses to transfer I've got a mortgage on something I don't own.

Are you sure?

The mortgage balance will have reduced in the past 5 years as capital is repaid.

tchock2012

I think the property, which is actually a flat/apartment,was mortgaged at £110,000. They now sell for around £80,000. Without checking the actual figures on my online banking, it said £90,000ish balance on it.

Thrugelmir

If being on the mortgage causes you no issues currently. Then better to keep quiet and let the debt be repaid.

Ultimately you are a half owner and therefore can claim half the equity at an opportune moment in time.

tchock2012

Even if I'm not on the deeds? That's what I'm mostly concerned with. I'm liable for a property I have no claim to - if that makes sense?

CLAPTON

tchock2012 wrote: »

Even if I'm not on the deeds? That's what I'm mostly concerned with. I'm liable for a property I have no claim to - if that makes sense?

why do you say you are not on the deeds: have you checked with the land registry?

tchock2012

CLAPTON wrote: »

why do you say you are not on the deeds: have you checked with the land registry?

As I signed documents from the solicitor about land registry, transferring the property to her sole name, I've kept a copy. So it looks like I'm on the mortgage but not the deeds...

getmore4less

tchock2012 wrote: »

As I signed documents from the solicitor about land registry, transferring the property to her sole name, I've kept a copy. So it looks like I'm on the mortgage but not the deeds...

Solicitor probably has the original and they never went to the land registry.

Thrugelmir

tchock2012 wrote: »

As I signed documents from the solicitor about land registry, transferring the property to her sole name, I've kept a copy. So it looks like I'm on the mortgage but not the deeds...

Did your solicitor advise you of the implications at the time?

pinkteapot

https://www.landregistry.gov.uk/www/wps/portal/!ut/p/b1/04_SjzQ0MTExNzM2NDPVj9CPykssy0xPLMnMz0vMAfGjzOKNjSxMDA1NjDwsjM3MDTxN3dyNDUNMjQ1MjPWDU_P0c6McFQEIpsdn/

For £4, you can do a 'title register' and download the current Land Registry record of who owns the house. Then you can check if you are listed as an owner or not.

I thought that as HSBC have a charge on the property the Land Registry title could not be altered without their permission. I doubt they would have given permission if you were staying on the mortgage as effectively you would be taking out a loan without owning the necessary collateral...

tchock2012

Thank you for all your replies advice so far! I received this email from her...

So the loan (mortgage) is in joint but the responsibility of that loan is mine.
The reason a transfer of title alone was done was because at the time i couldn't afford it.
The process as im sure you can remember took forever and ever!
What this means to you is that in the event of you applying for a mortgage - the loan will come up on the credit search - upon that knowledge the financier will ask, to which your reply should be thus....

I have no legally binding ties to this property or the amount of the loan due to a full transfer of title having taken place by the second party (fill in name as required)

Or in other words - theres a transfer of title in place.

You should hold a copy of that, if not just give ******* (solicitor) a call/email and copy can be sent to you. Because it will need to be seen by the financier as evidence.

It does not affect your chances nor does it have any negative repercussions on you as a new buyer. This is all due to the property, mortgage and all the rest of its is my responsibility

If someone is being removed from the title the lender will again need to agree. (which they did at point of request)

The outgoing owner (you) must be released from his obligations under the mortgage.
This is usually done via a clause in the transfer deed, which the lender will sign along with the other parties.
The lender will want to check that the remaining owner is financially capable of keeping up with the mortgage payments.

She goes on to say that the solicitor will have the copy of the paperwork.

What do you reckon :think: