Ex partner applying to take on mortgage as part of buy out

EclipseHAP23

Amicable split between non married partners, coming to our own agreement financially for buy out. 

The question I have is regarding what happens when my ex starts the ball rolling to see if they are able to take on the mortgage please. At this point, once the lender starts doing checks, what are my rights please? This may sound like a silly question but there is lots to contend with. Of course the house wouldn’t have been signed over at that point, but I am just unsure of the process. 

Thank you. 

Hoenir

You'll need to agree to any transfer of the property to your ex. Presumably you've come to a mutually agreeable financial arrangement. 

In terms of taking on the mortgage. Your ex will need to obtain a mortgage in their own right. Go through the full application process. 

All the legal aspects will be handled by a solicitor appointed by your ex. Shouldn't be a need to employ your own if everything is mutually acceptable. 

EclipseHAP23

Hoenir said:

You'll need to agree to any transfer of the property to your ex. Presumably you've come to a mutually agreeable financial arrangement. 

In terms of taking on the mortgage. Your ex will need to obtain a mortgage in their own right. Go through the full application process. 

All the legal aspects will be handled by a solicitor appointed by your ex. Shouldn't be a need to employ your own if everything is mutually acceptable. 

Thank you so much for your reply. My ex is hoping to take on the mortgage with the same lender and is hoping to discuss this with them soon. Exactly - I suppose that even once these checks start, nothing has been agreed legally, so the property is still in my name at this point. 

Hoenir

There's certainly nothing to concern yourself with.