How do I Remove My Name From My Mortgage

ONEILL113

I am in need of some assistance, due to a relationship break up, i am wanting to get my name taken off of my mortgage i no longer live at the property of have ay interest in it, how do i go about removing my name?

bryanb

Do you have the agreement of the other person? Does the other person have enough income without your contribution? Have you asked the lender? If 3 yes see your solicitor.

ONEILL113

i hae been told by my ex-partner to take my name off the mortgage, so i guess that is an agreement, and to be honest the payment can still be paid by them each month without my contribution. Would i be able to do it via the Citizens Advice Bureau?

ONEILL113

not sure about the lender i have no contact information to be able to contact them, i guess a solicitor would be able to get hold of this information?

silvercar

you would need to give your solicitor the mortgage lenders name and possibly the mortgage ref number. If your ex wants this to happen, she can give you the info.

If you download the deeds from the land reg site (£3), it should tell you the lenders name.

Your ex is going to have to sign the forms agreeing to take sole responsibility for the mortgage so you or your solicitor are going to have to contact her or her solicitor.

the lender will insist on a solicitor doing the legal work, so CAB can't do it alone.

Hemel_2

i've done something similar, i had to pay about £1000 to come off my mortgage... bank fees + sols fee...

tigtag02

Is there equity in the house that you are entitled to?

Has your ex *demanded* that you have your name removed?

Surely your ex should be buying you out (unless there is no equity of course)

:D

Generali

Worth checking the Stamp Duty position too. Even if you're gifting her half the house it may be payable if you're not married.

catw75

Are you on good terms with your ex, or at least in agreement that you will not claim any of the equity and that she will take sole responsibility for the mortgage? If so, she needs to ask the mortgage company if they will allow her to take over the mortgage as it stands based on affordability for the full amount owed. They will do an income affordability calculation and will hopefully say yes, if not she may have to provide a guarantor or a lump sum to reduce the balance, if possible, or remortgage with another company if they have different lending criteria and would allow it, which would incur fees. The existing company might not charge extra fees if they allow her to keep the mortgage. If you are in agreement that no money will change hands ask the solicitor who helped you buy the place if s/he would act for both of you in a 'Transfer of Equity'. If they agree this will save money for you both as it is only one lot of solicitor's fees at £400 or 500. If they consider it a conflict of interest i.e. if there are grounds that would enable one of you to complain at a later date that you got a poor deal, then you will need separate solicitors.

Hope this helps