95% loan-to-value mortgage whilst on another deed

Jmoo

Hello,

I'm looking to buy my first home and make the most of the 95% loan-to-value mortgage with my partner. But the issue preventing me from doing so is that my girlfriend had owned a house with her ex, and still remained on the deeds. They've applied to have her taken off, but six months later the Land Registry still hasn't done so. Is it likely this will prevent us from applying for that mortgage scheme?

sammyjammy

You talk about the deeds and Land Registry but is she named on the mortgage as well?  If she is then this will impact your affordability and whilst she is still in ownership of the house you would be required to pay second home stamp duty.

user1977

Jmoo said:

my girlfriend had owned a house with her ex, and still remained on the deeds. They've applied to have her taken off, but six months later the Land Registry still hasn't done so.

If you mean the transfer of title has already completed, then that's it done - how long the LR takes to process the registration shouldn't be relevant. Is anyone saying otherwise?

Jmoo

sammyjammy said:

You talk about the deeds and Land Registry but is she named on the mortgage as well?  If she is then this will impact your affordability and whilst she is still in ownership of the house you would be required to pay second home stamp duty.

She's off the mortgage paperwork 

user1977 said:

Jmoo said:

my girlfriend had owned a house with her ex, and still remained on the deeds. They've applied to have her taken off, but six months later the Land Registry still hasn't done so.

If you mean the transfer of title has already completed, then that's it done - how long the LR takes to process the registration shouldn't be relevant. Is anyone saying otherwise?

I don't know if it has been completed, the solicitor hasn't sent anything back. It was with the LR

user1977

Jmoo said:

sammyjammy said:

You talk about the deeds and Land Registry but is she named on the mortgage as well?  If she is then this will impact your affordability and whilst she is still in ownership of the house you would be required to pay second home stamp duty.

She's off the mortgage paperwork 

user1977 said:

Jmoo said:

my girlfriend had owned a house with her ex, and still remained on the deeds. They've applied to have her taken off, but six months later the Land Registry still hasn't done so.

If you mean the transfer of title has already completed, then that's it done - how long the LR takes to process the registration shouldn't be relevant. Is anyone saying otherwise?

I don't know if it has been completed, the solicitor hasn't sent anything back. It was with the LR

If she's off the mortgage paperwork and it's with the LR, then it's completed. In the same way that you own a house from the day you pay the money and get the keys - not from whatever date months later the LR completes the registration.

Jmoo

Handy, thanks 

steampowered

Updates to the land registry are currently taking 3 weeks. Sometimes it can take longer, but not 6 months.

I suspect you have misunderstood the process? Has the ex remortgaged the property? It sounds like you and her might have misunderstood the process.

Your GF should check her credit report (try clearscore) to see if the mortgage is still outstanding against her credit report. If so, she won't be able to get a new mortgage until that is sorted out.

Jmoo

Hmm it says 3 weeks on the website, but up to 10 weeks, and in some cases 12.

user1977

Jmoo said:

Hmm it says 3 weeks on the website, but up to 10 weeks, and in some cases 12.

Like we've said though, it doesn't really matter. Unless somebody is telling you that it does?