Mortgage FREE in 3 years

amayeta

This post is concerning the mortgage on the property I live in now.

The advice to over my usual fixed payments was a good one and the amount I owe is now just over 14'000.

As I originally purchased this with an ex-partner when we broke up I brought him out and he signed paperwork relinquishing his stake in the property.

I want to remove his name from the mortgage and the Land Registry.

As I am drawing up a new Will and adjusting my Life Insurance.

Thanking everyone in advance

Anayeta

kingstreet

Is there something you wanted to ask?

Thrugelmir

What form did the paperwork take?

Did you keep your side of the agreement?

Land_Registry

If you are asking how to transfer ownership from the two of you to just you then our online guidance should help

However you mention that the property is mortgaged so do bear in mind that your lender is likely to insist that you use a solicitor/conveyancer to complete the process.

amayeta

Many thanks for the reply I will get in touch with the Lender and see if I need to get a solicitor and take it from there.

As for the agreement I originally went to the Citizen Advice Bureau who help me draft up something simple. We both signed, in front of a witness (they signed to), I paid him the agreed sum and kept the paperwork safe.

Thanks again to everyone who has replied.

kingstreet

If you want to undertake a transfer of equity, you first approach your mortgage lender and you will be vetted to see if you can afford the mortgage alone.

If you can, the alteration will be carried out and the matter passed to a solicitor for the alteration of the legal charge and the ownership of the property.

Approximate total cost £340 to £600 and the leaving party will be advised to seek independent legal advice and will be required to agree to the transfer.

amayeta

Thank you Kingstreet for the advice.