Taking a joint name off a mortgage

pimento

I have an appointment with my mortgage provider on Thursday to arrange to remove my late husband's name from the mortgage but I'm a bit unclear about the procedure.

I have the death certificate and his will (which leaves everything to me). There's a small amount outstanding (about £50k) that I will not be paying off but I have always paid the mortgage so not a problem.

What I want to know is, C&G can remove his name from the mortgage but what happens with the deeds? Do C&G do this or do I have to approach the Land Registry separately? Can I do this myself or am I going to have to fork out for a solicitor?

Crabapple

You will need to do it separately with the Land Registry.

If you check out this link

http://www.landregistry.gov.uk/public/when-a-property-owner-dies

it explains the procedure and forms needed. It's really up to you whether you do it yourself or pay a Solicitor.

The Land Registry also have a good helpline so if you are happy to do it yourself they should be able to give you guidance over the phone if you hit a snag.

pimento

Many thanks.

g6jns_2

Just one thing to check is if there was any lif3e cover that would pay off the outstanding amount.

pimento

Yes, there was but I'm not going to pay it off.

g6jns_2

pimento wrote: »

Yes, there was but I'm not going to pay it off.

You might want to get some professional advice on that as it might make economic sense to do so. As for the Land Registry the lender will have to give them authority to alter the charge. Good luck.

nom_de_plume

Not quite the same but I recently changed joint ownership of a mortgaged property from myself and one child to myself and another. The mortgage company's solicitor offered to and dealt with the land registry side of things too (at an additional cost).

Land_Registry

Crabapple has kindly linked you to our online guidance which should cover it for you providing the property is in England or Wales and registered.
If you simply want to update the register re your husband's death then form DJP plus a certified copy of the death certificate should be sufficient - the guidance explains what is meant by a certified copy and links you to the form. There is no fee for completing the application and you do not need to use a solicitor/conveyancer.

In my experience and as g6jns posts however getting some legal/financial/professional advice around the wider issues re the property, estate and mortgage/life cover is always a good idea.

We do nothing to the actual mortgage so the charge is not altered at our end. The lender will update their own records quite separately so we would not need their authority or involvement.

pimento

Thanks, Land Registry Representative. That is very helpful.

pimento

g6jns wrote: »

You might want to get some professional advice on that as it might make economic sense to do so. As for the Land Registry the lender will have to give them authority to alter the charge. Good luck.

I don't care. I'm going to use the money to travel. I doubt I would get a loan for the interest rate of the mortgage. I earn enough to be able to keep paying it so it would be silly to use the money to pay off a loan that's charging me 2% and then borrowing money at 6% to go on holiday.

Unless I'm missing something.

g6jns_2

pimento wrote: »

I don't care. I'm going to use the money to travel. I doubt I would get a loan for the interest rate of the mortgage. I earn enough to be able to keep paying it so it would be silly to use the money to pay off a loan that's charging me 2% and then borrowing money at 6% to go on holiday.

Unless I'm missing something.

Noted. You might want to factor in how well you could afford it if interest rates rise significantly in the next few years which they certainly will.