How to remove myself from joint mortgage?

Rich_122

I need to get the documents and go from there. I think I have been put into a totally bum position. I will find out what's what and go from there. Thanks for all the help.

KRB2725

Are you definitely named on the mortgage?

FBaby

You own 1% only yet pay a substantial amount towards the mortgage whilst they pocket the difference in profit from the two rental incomes? Really? Can't you see how this is very wrong?

Rich_122

I am doubting everything now, including whether I'm even on the mortgage. It's a really horrible thing to realise your own parents would do this.

But until I get the details from the lender I can't go making assumptions, I will find out exactly what is what and start there.

gettingtheresometime

One way of looking at your situation is that if you're not on the mortgage you can just walk away.


Would a credit check be the simplest way of finding this out as if you've got a joint mortgage then it would appear on there wouldn't it?

Rich_122

If I could just walk away that would be the best possible outcome. Good idea about the credit check.

One thing to note, the £600 I pay goes into my parents account, not to the lender. Should this ring alarm bells? Surely if I'm paying the mortgage it shouldn't go to my parents, as how can the lender know which of the money they are paying is mine or theirs?

Pixie5740

Rich_122 wrote: »

If I could just walk away that would be the best possible outcome. Good idea about the credit check.

One thing to note, the £600 I pay goes into my parents account, not to the lender. Should this ring alarm bells? Surely if I'm paying the mortgage it shouldn't go to my parents, as how can the lender know which of the money they are paying is mine or theirs?

There are 3 of you named on the mortgage (possibly) the mortgage lender is going to take 1 direct debit a month, they're not going to fanny around collecting 2 or 3 different payments.

I think your best course of action is to get some facts. Get a copy of the deeds from the Land Registry and get the mortgage documents from the lender. Find out what's what instead of trying to second guess your parents and take it from there.

AdrianC

Mojisola wrote: »

It's the other way round - 'joint tenants' all own all the property; 'tenants in common' own a specific % of the property.

<groan> I always get that the wrong way round...

AdrianC

Rich_122 wrote: »

I am doubting everything now, including whether I'm even on the mortgage. It's a really horrible thing to realise your own parents would do this.

Look at this the other way round.

You live in a half-million quid house that you part-own and, in return for managing your housemates, you get a third off your rent.

silvercar

For a few quid you can find out who owns the property within minutes.

Make sure you are using the official site, not a dodgy site that overcharges you, takes longer and delivers the same thing.

Official site here: https://www.gov.uk/search-property-information-land-registry