Change Of Equity - Restriction Meaning?

betty02

After some advice on behalf of my partner. 2+ years ago her and her ex partner stupidly purchased a house on a joint mortgage. Anyway a month after she moved out. Wont get into relationship details etc. Anyway,



She moved out and he has solely been paying the mortage since she left. His new partner is now involved and she has been in conact about a "Change Of Equity" anyway at first we refused due to her ex oweing my partners dad a bit of cash.


Anyway they went to a solicitor and got something written up to say on completion of the change of equity then her dad will receive X amount, she will receive X amount and they will pay the fees for the whitnessing. (It was my aprtner and her dad who invested a lot of money into the house on purhcase).


Anyway this was all fine and it was through Emsleys, they were willing to do the change of equity etc and had this written in. Anyway her partners come abck to us and said Emsleys can't do any of the change due to a restriction on the mortage. They will still handle the exchange of monies due etc. It's all just starting to sound a bit strange to us so I asked for the documents but got a half cut photo of the restriction.


Is anyone able to advise what this means in simple terms and why it would put them off changing it over? It sounds more of a remortage with his new partner on it (so they can fre eup the money to pay back) rather than a simple change of equity.


Below is the picture I got sent, any sort of help on this wording and what we could do next would be greatly appreciated.





Thanks in advance.

[Deleted User]

Its nothing sinister, its just to make sure the person transacting on the mortgage is the same person as named on the title.

It can be very very useful in areas where people have similar names like Muslim communities for instance where there is a lot of name crossovers.

https://www.simpsonmillar.co.uk/media/why-you-need-an-anti-fraud-restriction-on-your-property-title-uk/

In practice it shouldn'y cause any real issue beyond your partner and her ex having to prove to a higher degree that they are who they say they are

betty02

Ahh seems something so simple. Strange for the solicitor to pull out then with it sounding quite sinister as you say. Will get back to her partner guess it's just a case of willing to find a solicitor willing to do more in depth checks to gain this certificate etc.


Is it strange that the date on the restriction is 1 week after the keys were handed over? Or can this be quite normal?


Thanks again really appreciate the reply it helps a lot.