We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
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!
Need some advice on relative on deeds of house/mortgage.
Options
AdamPD
Posts: 217 Forumite
Hi all.,
I've posted a couple of times about this in the past, but I'm in need of some advice on what I should do for my current situation
Long story short, I co own a bungalow with my dad and uncle
The uncle stopped paying his share of the mortgage and moved out about 7-8 years ago now and hasn't paid anything since
He struggled to get housing benefit because the DWP saw that he was on the deeds and/or mortgage of this house so wanted his name removing (But he somehow was able to get housing benefit despite this)
So I worked my butt off for the past 2 years to get sufficient income from my self employment to arrange a mortgage, all the while he was promising he would sign any document to get his name off (No mention of money changing hands, he just wants to remove his name)
So I managed to get a mortgage approved through a broker with Natwest, hurray!
We all have to fill in the transfer questionaiire for the equity of course, which I and my dad have done (My dad is gifting his share to me), the forms were sent to the uncle and he promised he would send them off last week (Tuesday or Wednesday)
Well, it's been a week and he hasn't sent them off and I have a feeling he isn't going to do it, despite saying otherwise and me offering compensation for the trouble.
I've sent two emails since then asking if he needs help, but nothing back.
So now I'm short some £1000-£1300 for the all the different fees and solicitors costs and it looks like I won't be able to remortgage after all.
That part is stressful and disappointing enough, but the worrying part is the mortgage we currently have is a half and half one, so only half the mortgage (capital) is being paid off, we will still owe some £75,000 in 8 years when the mortgage comes to an end.
And the uncle will still be on the deeds.
I really don't know what to do, as I understand it from a legal standpoint, there's nothing I can do to force him off the deeds and/or mortgage.
So any advice is appreciated.:(
I've posted a couple of times about this in the past, but I'm in need of some advice on what I should do for my current situation
Long story short, I co own a bungalow with my dad and uncle
The uncle stopped paying his share of the mortgage and moved out about 7-8 years ago now and hasn't paid anything since
He struggled to get housing benefit because the DWP saw that he was on the deeds and/or mortgage of this house so wanted his name removing (But he somehow was able to get housing benefit despite this)
So I worked my butt off for the past 2 years to get sufficient income from my self employment to arrange a mortgage, all the while he was promising he would sign any document to get his name off (No mention of money changing hands, he just wants to remove his name)
So I managed to get a mortgage approved through a broker with Natwest, hurray!
We all have to fill in the transfer questionaiire for the equity of course, which I and my dad have done (My dad is gifting his share to me), the forms were sent to the uncle and he promised he would send them off last week (Tuesday or Wednesday)
Well, it's been a week and he hasn't sent them off and I have a feeling he isn't going to do it, despite saying otherwise and me offering compensation for the trouble.
I've sent two emails since then asking if he needs help, but nothing back.
So now I'm short some £1000-£1300 for the all the different fees and solicitors costs and it looks like I won't be able to remortgage after all.
That part is stressful and disappointing enough, but the worrying part is the mortgage we currently have is a half and half one, so only half the mortgage (capital) is being paid off, we will still owe some £75,000 in 8 years when the mortgage comes to an end.
And the uncle will still be on the deeds.
I really don't know what to do, as I understand it from a legal standpoint, there's nothing I can do to force him off the deeds and/or mortgage.
So any advice is appreciated.:(
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.7K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards