Name removed from Mortgage

chilli_red

Hi,
Hope someone can give me some insight if possible.

I have a joint mortgage with my ex on a flat which we purchased in the mid 90's. My name is still on the deeds but the mortgage is not showing up on any of the credit reports sites. He has told me that he asked for my name to be removed from the mortgage but I have never signed any paperwork in effect to this.

Is there any way the bank (Abbey/Santander) would agree to this without my signature?

Many thanks in advance.
J x

holly_hobby

No, you would need to complete a transfer of equity (TOE) via your signature to TOE docs, as part of the legal process to both remove your name and interest from the property deeds and thereby the mortgage. Your signature is required, as obviously your agreeance to the transfer of ownership and forfeit of your interest in the property, is required for the change to lawfully take place.

If you haven't been presented with any docs for consideration and signature, the TOE hasn't taken place.

All this can only take place, if the lender agrees to your release the mge, with your ex's income and status having to meet their affordability and Underwriting checks to do so.

If the lender refuses to release you, and you want off regardless, your option is to sell the property. If your ex refuses to do this, then you will need to take this through the judicial route, to obtain a court order essentially forcing the sale from under him (which will involve court and professional fees if the support of Counsel is utilised in the process).

If you want to check all the credit reference agencies (CRAs), re your mge, try http://www.checkmyfile.com/ - free for 30 days, and easy cancellation process, not all mge lenders record their account on there, although I know the HBOS now Lloyds banking group do (if this is relevant to you ?)

Hope this helps

Holly x

chilli_red

Hi Holly,
Thanks for your reply. I have checked check my file and my mortgage is nowhere on there. I have checked the land registry docs and I am named as co owner, is there any reason why I am not listed on the mortgage without me signing any docs, which I definitely have not.
Thanks in advance.
J x

Thrugelmir

Any possibility that the mortgage has been repaid?

chilli_red

I seriously doubt it to be honest. Seeing as I was being chased for non payment of council tax ( I had to prove I hadnt lived there for 10 years) J x

holly_hobby

If you are named as a co-owner with LR, and there is a current mge - you are definately still party to it (as mge lenders don't permit those who are named on the deeds NOT to be party to the mge). (by the way council tax liability has no relevance to the existance of a mortgage, its solely related to property value band, LA banding rates, and a liability for those noted as occupants).

So if there is an os mortgage, it just seems that the lender in this case haven't recorded the account, or your connection, with the various CRAs, which I believe isn't unusual, although as I say I do know that LLoyds Banking Group (Halifax, IF, BM Solutions, BOS, etc) do record mge data.

Saying that, have you made them aware of the situation i.e relationship breakdown and that you are no longer resident at the property ?

As if not, I would do that asap, to ensure that a copy of all documentation and statements issued re the mge, are also sent to you at you current residence. That way you'll be kept abreast of all activity, arrears statements, requested change to borrowings, etc, that otherwise you may not be made aware of.

You probably know this, but whilst you remain party to the mge, you also remain jointly and severally (singularly) responsible for servicing the mge debt ..... which means that any arrears or shortfall chasing (upon property sale), will also involve you ...... so your removal may be something to strongly consider...

Hope this helps

Holly x