Transfer of Title - Help!!

Elle275

I want to buy my ex out of his share of the house. The Deeds are in his name and we are both on the mortgage. The council do not want to buy the property and have said we can sell on the open market.

The mortgage company have said no to removing his name off the mortgage.
Any advice to what to do next? I have £32k left to pay and 20 years left.
Thanks!!

harvey115

Since your name is not on the deeds this may well be classed as a sale, so transfer of equity may not be possible in this situation.

As already mentioned by the lender they would not allow the mortgage to be on your name alone, possibly due to affordability or other issues with your credit history.

You should consult a good mortgage broker who has a bit of experience in your situation. Maybe you can get a mortgage from some other lender and possibly be able use the transfer of equity path rather then sale to avoid any stamp duty and other costs.