transfer of equity

modcit

hi i hope someone can advise me on this subject i recently split up with my wife who left our home i have since been paying all the bills and the mortgage which is in joint names i have enquired about a transfer of equity from my lender and they have approved but my ex wife is now refusing to sign anything or talk about it either can i have her name taken off the mortgage without her consent?

BobQ

modcit wrote: »

hi i hope someone can advise me on this subject i recently split up with my wife who left our home i have since been paying all the bills and the mortgage which is in joint names i have enquired about a transfer of equity from my lender and they have approved but my ex wife is now refusing to sign anything or talk about it either can i have her name taken off the mortgage without her consent?

Its not entirely clear what you are asking. Do you mean taking your wife's name off the mortgage or the property registration.


Either way I cannot see a change being done without her agreement or a court order unless you decide to repay the mortgage in full in which case there is no mortgage any more. At present you are jointly responsible for the mortgage. She may not be paying her share(?) but you are both liable to see that it is paid.


Equally your wife has rights to a share in the equity you have jointly acquired so I can understand her reluctance to sign anything without advice on what that share is or should be.By transfer of equity I assume you mean repay the existing mortgage and then take a new one in your name but that does not address ownership of the property.

kingstreet

You can remove a party from neither the mortgage, nor the ownership, without their permission.

Sorry - had to step away for a minute. You would need to seek an order of sale from the court, to force the issue.

leccyblue

modcit wrote: »

hi i hope someone can advise me on this subject i recently split up with my wife who left our home i have since been paying all the bills and the mortgage which is in joint names i have enquired about a transfer of equity from my lender and they have approved but my ex wife is now refusing to sign anything or talk about it either can i have her name taken off the mortgage without her consent?

I'm assuming you own the house jointly (rather than tenants in common), and there is no deed of trust - which means she is probably entitled to half of the equity in the marital home. I can understand her reluctance to sign anything without payment for 50% of the equity.

Thrugelmir

Consult a solicitor. As you'll need a financial consent order drawn up as part of the divorce process.