Transfer of property/mortgage into sole name... (to escape abusive relationship).

dbm1804

I am looking for some advice on this situation, which must be quite common… Or if anyone has had to deal with similar & their experience?

Myself & (now VERY much ex) partner bought our house together in 2016. Joint Tenants.

All details & figures below. The general question being will I be subject to a 'tick-box' affordability judgement for transferring everything into my sole name... I can afford it and have savings, a plan & a guarantor but have a part-time job & small business so not 'normal'.

The relationship has become very mentally abusive for me (and physical on occasion). It is affecting my mental & physical health with the constant anxiety & unpredictable/aggressive behaviour. I have not got to the point of reporting it as I just want him to sign over the house to me with as little fuss as possible (I will be paying him off). I don’t want to make it any more difficult for him to leave.

The house was a complete s**t hole and I did all the work on it myself (yes a girl lol, everything from replacing all the woodwork, bathroom/plumbing, electrics, floors, plastering, flooring to painting & finishing. & totally overhauling the garden etc too. I was also working part time, keeping my buying/selling business going & looking after our rescue Dogs (3 hour walks every evening etc and caring through several illnesses).

I worked out that if we’d have paid tradespeople it would have cost about £40-£50k not £10k and my free labour.

I chose the house and also did/do all the work for the mortgage/legalities & do all the admin as he is completely hopeless. I will not leave it. I wouldn’t get a mortgage for a suitable property again on my own however because of my non box ticking work life. I have made this perfect for the dogs & near to walks etc which is the only thing I live for really. I have no family or friends really here but I am trying to change that once he is gone. It’s a long story and I have a pretty horrific past. I have worked VERY hard to get my life back, I will not let it go, it’s my only bit of safety/security.

Anyway. He has agreed verbally to leave for 10k which I can give him (unless he decides to be a **** and demand more after all). Obviously I won’t give him anything until the deeds are transferred etc. He has about 30k in another property from an inheritance too so he’ll be absolutely fine!

BUT what about the mortgage? I have absolutely no problem paying it and may get a lodger which I have done before. I have it all planned out. A friend from work has wanted to move in for 2 years!

He is the one with the normal full-time job though. I don’t tick the usual boxes, I work part time and have my little business but I only do enough to stay just about under the tax threshold, more than that would barely be worth it. I also manage my time around keeping fit & well & the rescue dogs. My income is about £1100 per month net on paper. I don’t even know if they would recognise my business though as I took about 2 years off to renovate the house. £700pm is from my 'normal' P/T job.

The mortgage is only £285pm (after me, as usual, finding the best deal and working on it for weeks). It’s fixed until 2024. I obviously realise things can change then. I handle all the bills and everything is on the best deals. I am well aware of all the costs etc and have always been the one in charge of the money in all the places I’ve lived.

If I ask for the mortgage be transferred solely to me are they going to basically say I can’t afford it and possibly refuse or even force sale or something? (ridiculous. I’d have to go on benefits and rent for about £600 per month otherwise). I am worried they won’t take account of my business or that I can get a lodger etc.

I am very clever with money and have no debts.

I also have 25k in savings my ex doesn’t know about. I’ve put everything I can aside to try to escape him for several years. I don't want to put all this into the house/him though and leave myself with no back-up cash.

I could also use my mum’s property as a ‘guarantor’ which she is prepared to do. There is no mortgage on it.

My ex is also 13 years younger than me so I am thinking they will decrease the term so payments will go up? (I am wanting to keep it on the longest term, paying it off quicker seems daft to me, I would rather keep the money/security in my bank & having a nicer life now. I want payments as low as possible whilst I’m still young (ish!)) Not that this is a big concern but just a further thought.

FYI- the property is currently valued at about 45/50k over what’s left on the mortgage. It was bought at 85k. Now valued at about £120k (after all my work & current high market, I realise this can change again). 71K left on mortgage. 33 years left about. I am 40.

I am the sole beneficiary to my mum’s property worth about £60k. She is 71.

Could this all be ok? Surely they can’t force a single woman out of her home if she hasn’t defaulted on payments or just because I don't have a normal high paid job?  Both my jobs have even been Corona proof! He's been on furlough for a year!

I am terrified of approaching them about it all in case they try and force me out without even missing a payment. I never have on anything in 30 years!

He needs to be off the mortgage as well as the deeds so he can look at buying his own property as well as me just wanting to cut all ties.

Thank you

Thrugelmir

dbm1804 said:

I just want him to sign over the house to me with as little fuss as possible.

Step one. How do you intend to do that.  Offer him a financial inducement?  

dbm1804

Yes. All the details are on the post. Quite long I realise but all there.

Carmassi

that's interesting. is it even possible to do?

[Deleted User]

Your post is far too long and contains bundles of irrelevant info - no one has the time to dig out info needed 
How much house worth
How much buy for ?
How much is mortgage
what is your GROSS annual income - split the amounts into each different income stream 
So he said he’s settle for £10K and do a transfer to you ? 

[Deleted User]

Go to the lenders website and look for their affordability calculator.  If you can borrow enough on your income then they will approve a transfer,  if you cant then they wont. 
They wont cancel the mortgage or anything but they just won't allow it to be put in the sole name of someone who cant afford it based on their affordability calculations.