Removing name from mortgage

ATE_18

Hi there, I am new to this forum, although I’ve been a regular reader of posts I have never actually posted.
Hoping someone can assist with my query.
I currently have a joint mortgage with my ex partner however I am now married and have a mortgage with my husband.
I haven’t lived at the house with my ex for a number of years, he lives there and pays all household bills. Until recently we have not got on at all therefore the house has never been sorted out. Upon buying the house I live in with my husband we were liable for additional stamp duty due to me owning another house so we are looking to take my name of off the other mortgage with my ex and try and claim back the thousands we paid out to the HMRC.
My ex has agreed and has agreed to give me back £17.5k, which is the money I initially put into that house in deposit. I am not asking for anything additional as even though the house has equity, he has been paying it solely all this time and I just want out.
He has had the sole mortgage in his name approved by the bank already so everything seems to be heading in the right direction.
His solicitor is now advising that I be legally represented in order to proceed. I can’t understand why this would be required, I am more than capable of reading through any paperwork and signing without the need of a lawyer. I was wondering if anyone can advise if this is an actual need or can I proceed to technically represent myself? I am currently on maternity leave and to be quite honest I really could do with not paying expensive lawyers fees especially at this time of year if it’s just a case of putting my signature on a few bits of paper. Any help/advice would be greatly appreciated. Many thanks

KnowledgeIsLife

You could represent yourself aslong as you are comfortable with dealing with this as his solicitor will deal with the discharge from land registry etc you would basically just have to sign the TR1 (Transfer deed) and send it back to his solicitor who will send it to the lender they will seal this and send it back to solicitor to submit to land registry and once that's done the solicitor will just confirm the date the transfer completed to the lender and they will then remove you off the mortgage that's pretty much job done.

silvercar

His solicitor is obliged to tell you that you should have your own representation. He needs to ensure you understand that you are effectively giving away any claim to the equity in the property.

davidmcn

All that's needed is a recommendation that you seek independent advice, not to insist on it - it's probably just his solicitor being paranoid. Either argue it or ask him to find a less fussy solicitor (or just swallow the cost, as it shouldn't cost much to provide you with the small amount of advice required).

AnotherJoe

ATE_18 wrote: »

if it’s just a case of putting my signature on a few bits of paper. Any help/advice would be greatly appreciated. Many thanks

It's nothing at all to do with putting your name on a piece of paper. It's all to do with protecting your ex and the solicitor against a claim in the future.
Otherwise in say ten years time you might make a claim saying that you didn't have legal representation and didn't understand the implications of what you were giving up. Even if you sign a letter stating you understand what you're giving up, you might argue that not being legally represented, you didn't realise that.
I'm not saying you personally will do this but this is the sort of thing that's happened in the past.
Given you are getting £17,500 plus perhaps stamp duty back, I suggest you do this, it might be your ex's solicitor downright refuses otherwise or really drags it out.
Personally I am sceptical you will be able to get the SDLT back but I wish you good luck. Make sure you do this ASAP because there's a deadline sometime this month to do with SDLT that's important as well.

Thrugelmir

When you divorced did you complete the legal formalities such as a financial consent order. Your ex's solicitor isn't going to expose his client to you making a claim in the future. The financial consent order is in essence a clean break agreement. That's the bottom line.

Disposing of a minor interest in the property may not qualify as exemption for second home duty. Has to be the whole of your holding. Another reason to take advice.

KnowledgeIsLife

His solicitor will make sure on the transfer deed it says how much he paid you and that you give up all legal & financial right to the property as everyone has said any solicitor will insist you seek legal advice but this is not mandatory might be wise just to take the TR1 once received to a solicitor just to check everything is correct from your point should not cost alot just for them to look at a document but as I say it's up to you.