Changing name on mortgage????

veryskint_3

Hi all this is not about the will again. But ive just realised, when my husband got divorced he was ordered by the judge to sign the house over to his ex wife (who is now deceased) which he did but if she defaulted on the payments because his name was still on the mortgage they would come to him for it. But after a few months she told him the bank had been in contact and had mistakenly given them the wrong mortgage ( an interest only instead of total repayment) and would he sign another mortgage with her. My husband said he wouldnt sign anything as the judge told him to sign the house over and that was it, so the mortgage company got her to sign a new mortgage in just her name AND on the strength that she was unemployed and claiming income support and that the social would pay the interest (which they did) Im sure thats not right as someone who applied for a mortgage normally and was on income support they would laugh at them. Can anyone please advise!!

veryskint_3

Hi can someone please move this to the mortgages section please as i dont know how to do it Thanks

vaio

veryskint wrote: »

…….. so the mortgage company got her to sign a new mortgage in just her name AND on the strength that she was unemployed and claiming income support and that the social would pay the interest (which they did) I’m sure that’s not right as someone who applied for a mortgage normally and was on income support they would laugh at them. Can anyone please advise!!

I would have thought that having the social paying the interest is about as secure as it gets from a mortgage company point of view.

The capital repayment bit might be a problem but that’s 20 or 25 years down the road and that’s a long way with lots of opportunity for a change in circumstances

veryskint_3

Yes i understand that but like i say if someone was to try for a mortgage on income support they would be laughed at as the social only pays the interest. So by that theory anyone on social should be able to get a mortgage as there is plenty of time for them to get a job in the future while in the meantime living virtually rent free.

veryskint_3

Would just like someone elses thoughts or views on this topic