Remortgage / Partner Buyout

shigoel

We have a court order according to which family home will be on my partners name upon releasing me from mortgage and payment of some lumpsum to me.
Now he wants to remortgage home which will automatically remove me from the existing mortgage but I guess remortgage is only possible after house deed on his name?
so his solicitor asked me to sign TR1 but it doesn't give me security that I will not liable for joint mortgage. Is there anything I can do secure myself?
Thanks

ian1246

Speaking to your divorce solicitor would probably be most appropriate. In all seriousness, what sort of lumpsum are you supposed to be receiving? I.e. is the re-mortgage for the purpose of raising the funds to pay you your lump-sum, thereby buying you out? If so, as long as you have a legally binding contract before you sign over your share of the home ownership, I would imagine him re-mortgaging is a good sign since it will sever your financial connection to him and result in your receiving your lump-sum.

With the re-mortgage - is with your current provider? If so, your currently a customer with them and therefore entitled to information relating to your existing mortgage. Give them a call - if the re-mortgage is removing you of the existing mortgage, they will be able to tell you at least that, since that information is relevant to yourself i.e. you ceasing being their customer - however in such circumstances, they won't be able to discuss the re-mortgage itself any further with you due to data protection, if its not in your name.

On the other-hand, if what you fear is correct - that you will be liable for the re-mortgage due to it in-fact keeping you as a joint-mortgagee, the mortgage company will be able to discuss it with you since the information will concern you - at which point, I would suggest definitely speaking to your divorce solicitor since if your ex is trying to re-mortgage and keep you on it... that's potentially contempt of court if the court have issued a court-order to take you off the mortgage, not to mention fraudulent in its own right (Misrepresenting his position in order to gain a benefit, whilst also causing you a loss).

Don't sign anything until you know exactly what your signing for - gathering information will hopefully resolve this/ put your mind at rest (I'd hazard a guess he's just re-mortgaging in his name only to generate the funds to pay you your lump-sum).