Transfering deeds and mortgage, advice please

[Anth 113]

Split up with the woman on New years day, and since then I have been paying half the mortgage and a little bit of money I owe her for repairs (the total is

£3 grand!) Any way, shes now decided that she will take the house on by herself which is what I've been asking for, for a while...

 

What exactly do I have to do, and what do I need to shell out for? I know I'll have to get a solicitor for the transferal of the deeds, but what will happen to the mortgage. Can she just take it over, or will she need to apply for another mortgage? Will I be eligable to pay her anything on the mortgage front? I realise that I'll have to pay half for the transferal of deeds.

 

I know a good bit of advice would be to speak to solicitors/ mortgage company ect but I thought I'd ask here first so I dont look like a complete mong when I ring them

[JawD 99]

Im no expert, but Id imagine the bank would want to make sure she ticked all the right boxes before transferring the deed in full. Are you just handing the house over or is she buying you out?

 

Mind, in the current market it depends on how much the outstanding mortgage is to its current value. If its in negative equity you'd get nowt anyway.

[Rob W 0]

you'll need a solicitor on this one

 

1. If the mortgage is join there is a chance that one party can take it over - however given the state of the business they'll almost certainly try and zing her with a new one and extra fees - and can she afford it anyway?

 

2. What about your share of the house? Is it worth anything?

 

3. If you are married you want to make sure that any value in the house is taken into account in a divorce - you'd look a right numpty if you give her the keys and then she claims for support for housing

 

4. As JawD says if its negative equity you're in a whole new ball game - they may just repossess

 

 

5. Don't forget Council Tax and Insurance - if you don't tell them they may come after you

[Anth 113]

Thanks for the replies lads.

We've sorted the council tax out already. So i think its just the deeds and the mortgage that is left to sort. Rather than buying me out I'm just writing it off to be honest, the house is probably worth less than we paid now. One thing though, She claims that she still wants the 3 grand for repairs I owe her, even after she's the sole owner of the house???? I told her to get knotted - She claimed that becuase the repairs/decorating/ upgrades were done when I was living there I need to bung her. Thats got to be bollocks hasnt it?

[Park Life 71]

Keep your money/house/watch away from the da bitch innit.

[Smooth Operator 10]

Don't give the snake with tits anymore money, my fucking ex wants me to sign over my entitlement to my share of the equity. She can lick my hairy crack the daft bint.

 

She still lives in the house and pays the mortgage herself although they wont let her have the mortgage on her own. I've taken nowt out the house and have agreed to stay on the mortgage for a while - that's more than enough i reckon.

[Jill 0]

you'll need a solicitor on this one

 

1. If the mortgage is join there is a chance that one party can take it over - however given the state of the business they'll almost certainly try and zing her with a new one and extra fees - and can she afford it anyway?

 

2. What about your share of the house? Is it worth anything?

 

3. If you are married you want to make sure that any value in the house is taken into account in a divorce - you'd look a right numpty if you give her the keys and then she claims for support for housing

 

4. As JawD says if its negative equity you're in a whole new ball game - they may just repossess

 

 

5. Don't forget Council Tax and Insurance - if you don't tell them they may come after you

 

This is a good start, but definitely speak to a solicitor.