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Transferring ownership from joint to single.
Comments
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Thrugelmir wrote: »You ex has a mortgage in place as well?
She doesn't have one as well, just the joint mortgage which I assumed in good faith, I was off, after paying £160 Transfer of Ownership form authorised by lender.
The request was then sent to her Sols re Transfer of Equity..still to be processed.
Should I persevere with speeding up the Transfer of Equity in a bid to secure/proceed with the current mortgage offer?0 -
Your ex has to meet the lenders requirements for the mortgage in their sole name. So will go through an application process.0
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As you would if you were moving house, simply tick the box on the new application which says "any existing mortgage to be repaid on or before completion."
It will be made a condition of the offer that you are removed form the old mortgage and the solicitor handling your purchase will ask you for a copy of the solicitor's letter confirming your removal before your purchase can complete.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
She's already been authorised, this is why I thought it was going swimmingly.Thrugelmir wrote: »Your ex has to meet the lenders requirements for the mortgage in their sole name. So will go through an application process.
Kingstreet, that has eased my fear a bit. Seeing my solicitor this morning and will let you know how I get on.0 -
Panic over - The mortgage IS in her name.
The title deeds re Equity is not an issue or a hinderance. Im walking away from the property with no interest.
Bit of a squeaky bum there for a while.0
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