Transfer of Mortgaged Property (ownership) halifax

Rose88

Hi there,

I split with my ex 18mnths ago and have moved out. He has been living in property and paying mortgage alone. He wants to keep the house so I want my name removed from the mortgage/deeds altogether. I seem to have been passed from pillar to post regarding how to actually do this...the latest I've been told is to go into my nearest Halifax branch (our mortgage provider) and get a Transfer of ownership form - does anyone know what happens from here?? Does the bank fill the forms out for us or will we need to take the forms to a solicitor? Do we both need to be present when the forms are filled out? How long will the form take to process? And how are lawyers involved in the whole affair - is what will I be paying them to do? Sooo confused

Thanks in advance!

kingstreet

He has to approach the existing lender to see if he can take on the mortgage alone, or to make a remortgage application to a new lender for a single mortgage to replace the joint one.

Once the mortgage is resolved, the matter is then passed to a solicitor for a transfer of equity to be completed. This involves transfer documentation you'll both need to sign.

The typical cost of a transfer of equity is between £400 and £600.

rothchick

Just to add on...the Halifax will also charge a fee of £160 to cover their application but this is only charged if the transfer is completed and will be debited to the mortgage.

Conrad

Rose88 wrote: »

Hi there,

I split with my ex 18mnths ago and have moved out. He has been living in property and paying mortgage alone. He wants to keep the house so I want my name removed from the mortgage/deeds altogether. I seem to have been passed from pillar to post regarding how to actually do this...the latest I've been told is to go into my nearest Halifax branch (our mortgage provider) and get a Transfer of ownership form - does anyone know what happens from here?? Does the bank fill the forms out for us or will we need to take the forms to a solicitor? Do we both need to be present when the forms are filled out? How long will the form take to process? And how are lawyers involved in the whole affair - is what will I be paying them to do? Sooo confused

Thanks in advance!

#


He needs to apply for a new mortgage with them. It's all about being clear on the phone and getting the right department otherwise you will always be passed about. To be clear, 'he' needs to arrange this, not you.