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Buying Ex Partner Out of House
HomeOwner2015
Posts: 3 Newbie
Hi
I've recently split with my partner and we've come to an agreement about the house that we own jointly. Our current mortgage provided won't let me take the mortage on by myself but I think I may be able to get a mortgage through Barclays Family Affordability Plan with my Dad coming onto the mortgage with me for a while until I can afford it myself on paper.
How therefore do I take his name off the deeds of the property?
I assume I apply for my new mortgage with the new provider and then do I just get a solicitor at the same time to handle the transfer of title? And the payment I'm going to make my ex? Do I have to tell the new mortgage provider the house is currently owned with another person?
Sorry I'm a bit clueless about how all this works?
I've recently split with my partner and we've come to an agreement about the house that we own jointly. Our current mortgage provided won't let me take the mortage on by myself but I think I may be able to get a mortgage through Barclays Family Affordability Plan with my Dad coming onto the mortgage with me for a while until I can afford it myself on paper.
How therefore do I take his name off the deeds of the property?
I assume I apply for my new mortgage with the new provider and then do I just get a solicitor at the same time to handle the transfer of title? And the payment I'm going to make my ex? Do I have to tell the new mortgage provider the house is currently owned with another person?
Sorry I'm a bit clueless about how all this works?
0
Comments
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Yes, you will ned to get a solicitor. It's often referred to as a transfer of equity.
It's similar to any other house sale: You + Ex are selling to You (+Dad)
The mortgage lender will be looking at what you can afford taking into account your financial situation and the value of the house.
I would suggest that you find a solicitor who is local to you and whose firm also deals with family matters - that way, if any problems come up between you and your ex they will be in a better position to help, they are also likely to be more familiar with this type of transaction.All posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)0
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