Permission from partner to deal with mortgage company

sh856531

Hi all

I currently live with my partner in a property that we both pay for but which is legally mortgaged by only her (as we met after she bought it).

We are currently looking at various options around remortgaging, moving, considering letting the property but because I am not on the mortgage I can't really contact the bank to ask even basic questions about our options.

I looked in to being put on the mortgage at one point, which would be absolutely fine in principal but seemed to involve hundreds of pounds worth of fees and other bobbins.

So leaving that aside for a moment, is it possible for my partner to give me authority to call the bank and deal with them regarding the mortgage?

At the moment I'm guessing they wouldn't even speak to me even though I have the bank details.

Many thanks

S

Oli.s

If your thinking of changing providers anyway it's probabl easier to he her to ring.

kingstreet

She would need to provide the lender with a written authority for you to be given information about the account.

sh856531

Oli.s wrote: »

If your thinking of changing providers anyway it's probabl easier to he her to ring.

There are really a couple of minor issues. The first is that she isn't as comfortable as I am dealing with financial companies and the other is in order to tell if we want to move lenders, we will need to speak to Halifax about some relatively technical matters.

It will be substantially quicker and easier if I am able to contact them to act on our behalf

Cheers

S

sh856531

kingstreet wrote: »

She would need to provide the lender with a written authority for you to be given information about the account.

Well thats something at least - I'll ask if she can contact them to arrange that. She would be more than happy to send them a letter if it meant I could deal with them! :-)

At least then I'll be able to talk to them about what they would charge to put me directly on the mortgage

Many thanks

S

kingstreet

If you are credit worthy and affordability is good, a transfer of equity to add a borrower/owner would cost between £450 and £600 in total as there are legal costs for the work done on the property title and mortgage deed by a solicitor as well as the mortgage work by the lender.

In addition, if the current mortgage is more than £250k, the consideration would be deemed to be half the mortgage being transferred, so stamp duty would be payable.

amnblog

They will probably want her to call and go through security and then give the phone to you.

Red-Squirrel_2

sh856531 wrote: »

There are really a couple of minor issues. The first is that she isn't as comfortable as I am dealing with financial companies and the other is in order to tell if we want to move lenders, we will need to speak to Halifax about some relatively technical matters.

She managed to get the mortgage in the first place without you there helping/taking over!

I hate to sound suspicious, but I can't help but wonder if your motives for cutting her out of the process of dealing with her own sole mortgage are as pure as they sound.

goodwithsaving

I think these are questions for your partner to be asking. She will also need to alter the ownership on the deeds to tenants in common with shares, to reflect her input with deposit etc.

As Red-Squirrel says, she secured the mortgage on her own so can obviously discuss such matters herself.

Reading old posts - they are very much centred around what is best for you.

sh856531

kingstreet wrote: »

If you are credit worthy and affordability is good, a transfer of equity to add a borrower/owner would cost between £450 and £600 in total as there are legal costs for the work done on the property title and mortgage deed by a solicitor as well as the mortgage work by the lender.

Yeah thats the sort of figures we had found out as well. It would be nice get all the paperwork sorted out, but at the moment we are working had to build a deposit for either a second or larger home it feels like just setting fire to some money! :-\

Thanks for the advise though - we may still end up taking that option

S

kingstreet

If you are looking to move, why bother?

You might as well sell the current property in her sole name and buy the new one in joint names.

Unless you have issues in your financial make-up, chances are your new mortgage won't be with Halifax as their rates don't set the world alight. They have flexible approaches to some things which makes brokers use them regularly, but not because they are at the top of any "best-buy" tables...