Variations to Declaration of Trust - please help

wendb69

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.

G_M

If your solicitor cannot help you with this, find a new solicitor.

wendb69

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.

xylophone

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

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

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.

Guest101

to be fair after 3 years of marriage the default position is 50/50 anyway.


But I cant see the lenders POV

TBagpuss

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?