Mortgage Help

ARennie

I wonder if anyone can help......
I had to remortgage 2 years ago after a marriage breakdown. I couldnt get the mortgage on my own so my daughter went in with me and all fine - mortgage agreed. A year later my daughter wanted to buy her own house - so I had to do a transfer of equity & managed to remortgage on my own. All good.
A year later - turns out that whilst my daughter was taken off the deeds - the mortgage never transferred over to me - she is still joint with me on my mortgage. I dont understand how this can have happened - her own mortgage was agreed and completed on the basis of coming off mine.
I am completely stumped - and stressed..... my circumstances have changed in that time - with less basic salary (though loads more commission based earnings).... I just wonder if anyone knows how this could have possibly happened.

Hope this makes sense and I havent rambled too much.

ACG

Some lenders allow 2 on the mortgage, 1 on the deeds (Barclays, Metro and a couple of building societies off the top of my head - although there could be more).

So possibly a form completed incorrectly? You would need to check with the lender really.

ARennie

Thanks ACG - I have a meeting with the lenders on Friday so hopefully will get to the bottom of it....

I just don't understand how her new mortgage could have completed with her still being liable on another (her new lender stipulated that she would need to be removed from my mortgage). So now she has 2 mortgages in her name - which should never have been the case as would never pass any affordability test....

ACG

It sounds like you are trying to blame the new lender for allowing your daughter to complete?

If that is the case, I would think carefully before going down that route as your daughter is currently in breach of her terms. You can try to shift the blame, but as your daughter is an adult she was aware of the terms (or at least should have been) and completed with that condition in place.

Some lenders put the onus on the applicants/solicitors to comply with the terms of the Mortgage.

ARennie

Well thankfully this has been resolved. Turns out it was a banking error - TR1 (I think it was called) was rcvd - and the relevant changes made to the land registry. But the bank never completed the transaction - been a helluva couple of weeks trying to get it sorted and too many hours spent on the phone / in branch but just hugely relieved it is sorted.
I certainly wasnt trying to push the blame on anyone - just simply wanted to understand how it could possibly have happened - especially if we get a letter from solicitors at the time stating all complete so please pay your bill lol.... But just a bank error and I can now breathe.....