Crazy Cat Lady Chapter 5 - Trying to recover from the pandemic

triple_choc_chip

OMG I’m knackered just reading that, I have no idea how you do it, I’m in awe. Please don’t get sick from doing too much and please take your breaks - the work will have to wait for you if no-one else will do it. Take care of you first 💐

Honeysucklelou2

CCL - so sorry the first week back has been so tough. Re the mortgage I am a similar boat, in needing to get a new mortgage at some point, but needing to up my income to remortgage at the current level and over a longer period of time.  Until I can do that I can only plod on with the existing mortgage.
Sending virtual hugs...hope today is better and that you at least get some break.

ladyholly

My only advice is get a decent independent mortgage broker and let them do the work. You have more than enough on your plate. Just make sure you explain re your ex and that he probably wont sign it so will need to go to the court.

crazy_cat_lady

peb said:

I'm in a bit of a pickle with regards to sorting the mortgage and deeds. Basically I can't get ex's name off the deeds until I have a new mortgage offer, and it seems I can't get a mortgage until ex's name is off the deeds. I don't have the energy to fight this at the moment

Ok. I know that you don't have the energy at the moment but honestly it's simple, you simply complete the new mortgage and the Transfer of equity simultaneously.  If you need a judge to sign the transfer deed try and obtain an offer from a lender who either supplies an offer with a long life or in the view of the broker will extend easily.  NOT nationwide for example, they don't extend offers under any circumstance.  Pm me if you want to know more - bear in mind I'm not working because of cancer so may be in a chemo fog for up to a week. (My knowledge I'd from conveyancing not mortgage providing)

Peb, I cannot begin to thank you enough for putting my mind at rest about this. When I get round to applying again I will just mention that I need a long offer or potential to extend and not mention any issues that I have with the ex. It seems to confuse people that it's a remortgage but only into my name. I don't know how unusual the situation is but it would seem that the second broker I spoke to doesn't know what they are talking about. 
Thank you so much for taking the time to reply to me, and I hope that you're as well as can be whilst undergoing chemo.

peb

K. So look at it as a purchase, it's new names so not a remortgage. Don't worry- a good lawyer will understand.   It's not very common, in 25 years of doing the job I've only had to arrange for a judge to sign the deed about four times.  You won't get away with an offer with free legals as the bulk conveyancing firms won't touch it.

 If there's a redemption penalty bear in mind your current lender may waive it if you stay with them. 

peb

Just to add after reading Lady Holly's post, from the brokers point of view it's not a remortgage because of the transfer of equity,  your "deposit" is presumably the current equity so advise accordingly and you simply say as legal stuff is ongoing you need a decent length on both the offer and the product.  Often the product is an issue as they are for short periods.  Offers vary between six weeks and a year, some lender's happily extend them with minimal effort, others require a reason to be fit, others don't extend at all. That's what you need to put to the broker.  

Every thing else will be dealt with my your solicitor.  Try to ensure that the conveyancing is done by a conveyancer not the family lawyer - conveyancing is usually substantially cheaper per hour -  I suspect that you will get a fixed price for dealing with the lender but not for dealing with the transfer.   Also if you use a different firm you will likely have additional charges for liasing between firms - it does cause a lot of additional work.  Make sure you have a copy of the court order to supply if you do use a different firm.

beanielou

@peb.  You are SO helpful.

peb

Thanks Beanielou, although I've been about for years (2007!) I only post if I think I can help. 

f0xh0les

Sorry if I am being a bit dim, but when you were going through all the hassle of the financial settlement to get the Decree Absolut did  Himself  not agree to have no future claim on the house or your pension?   This just seems like torture. 

42 days til school breaks up for Xmas.

peb

I think that is the case from memory, the court order in respect of the ancillary relief will have contained a clause that if Ex MrCCL refused to cooperate with the transfer of the property - he has to in person sign the deed - then a judge can do so in his place.  This, when there's no backlog, can take some time. I'm wracking my brain but my last private firm where o do this I left in 2013 so I can't remember the time the judge took. I've been a technical specialist at a bulk firm subsequently so haven't done this