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Remove a ex from mortgage
Anita67
Posts: 3 Newbie
Hi,
I’m asking this question for a friend.
His girlfriend and him split up shortly after getting a mortgage, they remain friends. They want his name off the mortgage, she has started the process of remortgaging, he has received papers to sign, the papers also says
It is a lender requirement that you must seek independent legal advice to ensure that you are fully aware of the nature and effect of this transaction before proceeding. Please not we are unable to complete without a covering letter from your legal representative confirming the advice given.
Because of work commitments and a young family he would lose money to go and get legal advice. Can this not be done without legal advice on his part?
Any advice appreciated
I’m asking this question for a friend.
His girlfriend and him split up shortly after getting a mortgage, they remain friends. They want his name off the mortgage, she has started the process of remortgaging, he has received papers to sign, the papers also says
It is a lender requirement that you must seek independent legal advice to ensure that you are fully aware of the nature and effect of this transaction before proceeding. Please not we are unable to complete without a covering letter from your legal representative confirming the advice given.
Because of work commitments and a young family he would lose money to go and get legal advice. Can this not be done without legal advice on his part?
Any advice appreciated
0
Comments
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No it would need to be done as it's a lender requirement and there is no way around it. Surely he would want the advice given as he's potentially giving up equity etc. Maybe his ex partner could cover the cost of the legal work required out of the equity?I am a Mortgage Broker.
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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