change of title deeds.

johnbhoy10

Guys-

Quick question as i'm fed up talking to my conveyancer and my lender to which i'm getting conflicting advice.

I have joint mortgage with my wife. Can i change the house to her name only whilst leaving the financial arrangements with lender exactly the same. Bank/lender drew up docs and sent them to me 'change of provision of sucurity' i think they're called. They said they've done it regularly in past and can categorically 100% do it. 2 individuals told me you can.

Meanwhile, my legal side after speaking to 2 lawyers say you 100% can't do it!

Confused. Probably not going to do it now and can't be bothered with grief but i'm stubborn and believe my conveyancer to be wrong!

Thrugelmir

You can do it. Though not advisable.

johnbhoy10

Thrugelmir wrote: »

You can do it. Though not advisable.

thought so. thanks Thrugel.


ps-who am i to question a lawyer or 2 even.

cayennepepper

Can be done, we did it too.

Thrugelmir

johnbhoy10 wrote: »

thought so. thanks Thrugel.


ps-who am i to question a lawyer or 2 even.

Legal advice may well suggest you don't. As there's no upside but plenty of downside.

johnbhoy10

thanks for replies guys.

I have my suspicions as to why i'm being told you can't. Maybe better find a solicitors that aren't related to my other half. Still think their reasoning for refusing is bonkers though!


ps-i fullly understand the implications. surely i'm the one with something to lose if i transfer to the wife but stay on joint mortgage.

zzzLazyDaisy

I think you are referring to a 'transfer of equity'? This sometimes happens when a relationship breaks down and the house is transferred into one partner's name, while the mortgage remains in both partner's names. This is often (but not always) as a result of a court order. However, it is up to the lender, and many will not allow this.

More importantly, it depends WHY you wish to do this. You refer to your wife (not ex) so I am assuming that there is some other reason for wanting to transfer the house into your wife's sole name. If this is to protect the house from creditors, you should be aware that if you are made bankrupt, the OR can still trace the equity that would have been yours but for the transfer.

Thrugelmir

johnbhoy10 wrote: »

I have my suspicions as to why i'm being told you can't. Maybe better find a solicitors that aren't related to my other half. Still think their reasoning for refusing is bonkers though!

You should seek INDEPENDENT legal advice. From a party with connection to your wife.

Solicitors are unable to advise both parties independently. As obviously a conflict arises.