PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Variations to Declaration of Trust - please help

Options
3 years ago, my "now" husband brought in to my house of 20 years and we had a Declaration of Trust written up - at the time that we remortgaged.


We are now remortgaging again with a different provider and the solicitors have said that we need to draw up a new Deed of variation. We haven't got a clue how to word this, or whether we are supposed to work out the figures - which we are not sure we can or able to. Originally it was worked out that I had around a 69% share and he 31% share - but I am happy for him to have 50/50. Or do I just write Deed of Variation stating the new Mortgage lenders name and add that the terms of the original declaration have not changed?


We have also been told to do a statement of truth each?


They have said that they are unable to help us with this process!


Please help.
Regards
[B[/B]

Comments

  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    If your solicitor cannot help you with this, find a new solicitor.
  • wendb69
    wendb69 Posts: 276 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    G_M wrote: »
    If your solicitor cannot help you with this, find a new solicitor.

    This is a major lenders solicitor. I have to use them for the conveyancing.
    Regards
    [B[/B]
  • xylophone
    xylophone Posts: 45,609 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    This is a major lenders solicitor. I have to use them for the conveyancing.

    Do you mean that they are acting for the lender?

    You find your own solicitor to deal with the deed and statement?
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Every major lender has a panel of solicitors.

    Ask the lender for their panel list and find another solicitor locally on the panel who WILL help with the Declaration.
  • wendb69
    wendb69 Posts: 276 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    xylophone wrote: »
    Do you mean that they are acting for the lender?

    You find your own solicitor to deal with the deed and statement?

    Yes they are the lenders solicitor. Cant believe I have to use another solicitor too.
    Regards
    [B[/B]
  • Guest101
    Guest101 Posts: 15,764 Forumite
    to be fair after 3 years of marriage the default position is 50/50 anyway.


    But I cant see the lenders POV
  • TBagpuss
    TBagpuss Posts: 11,236 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    wendb69 wrote: »
    Yes they are the lenders solicitor. Cant believe I have to use another solicitor too.

    Instead, rather than as well.

    Generally speaking, there are lots of solicitors on the mortgage lenders panel, you can use any of them, who will act for you and for the lender.

    If you are getting the remortgage done with a "free" conveyancing offer then it may be a bit different - there will be a smaller pool of conveyancers to pick from and and they may well just be conveyancers, not solicitors. Check whether there is anyone in the firm who could do the work from you but you will need to pay for it.

    If you are absolutely sure that you are happy to own equal shares then one option would be to tell the conveyancer you want to change from tenants in common (which is what you have now, where you each have a specific share of the property) to Joint Tenants, where you jointly own the whole property, each automatically inherits if the other dies, and the default assumption is an equal split if you separate, although a court could change that as part of a divorce.

    I am not clear why you would need a new deed - did the original specifically refer to the original mortgage?
    All posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.9K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.