Title Deeds / Ex hubby

stboard

Hi all,

I split up with my husband about 3.5 years ago and have been divorced for 2.5 years, his name is still on my title deeds and mortgage, he has not paid anything since we split, now been advised by solicitor to have his name taken off the title deeds to my house which the ex husband has agreed to do but solicitor does not seem bothered about ex husband still being on mortgage.

Has anyone experienced a similar situation.

Thanks for any advice.

BitterAndTwisted

A person cannot be taken off the deeds while there is a mortgage on the property. A form of purchase has to take place. The outgoing person plus their co-owner sell the property to the new owner (you) by the new owner applying for and receiving a new mortgage in their sole name, the old mortgage being settled at the point of purchase.

Rather a lot depends on whether your level of earnings can support a mortgage in your sole name, and of course, whether your ex is wanting any equity out of the transaction.

PeacefulWaters

To achieve this you need the agreement of your husband and the mortgage lender. The lender will charge a fee of around £200.

The lender may not be keen unless you have no issues with affordability and a clean credit file.

Once you've got the lender's agreement a solicitor needs to draw up a new mortgage deed and change the ownership. Budget c£500 bill.

If there's equity in the property, your husband could reasonably ask that you buy his share off him. If the property is in negative equity the lender is unlikely to grant approval. If they do, you should consider asking your husband to buy his way out of the negative equity.

If the transfer of ownership doesn't happen and the property increases in price your ex may come back with a claim for half the equity when you do sell.

If you lose contact you won't be able to sell up and move.

Best to try and sort things now.

been advised by solicitor to have his name taken off the title deeds to my house which the ex husband has agreed to do but solicitor does not seem bothered about ex husband still being on mortgage.

I would be amazed if the mortgage conditions would allow the property ownership to change without the lender agreeing to it.