Changing name on mortgage
Answered on 20 August 2017 by Nick Morrey
I took a joint mortgage with my husband 7 years ago. I paid the stamp duty, deposit, and have paid the whole mortgage+both his and my life insurances and also the whole cost of a large extension during these years. Due to relationship problems now, I want to now convert the mortgage and the house in my name. I have approached my mortgage lender and I am eligible to get a sole mortgage but want to know the legal procedure of the transfer of ownership of home and from a joint mortgage to a sole one. Do I owe him any money even though he hasn't paid any thing towards the cost.(evidence being transfer of all costs from my sole bank account). I would appreciate your response. Thank you.
I'm afraid that this is really more of a legal matter than a mortgage related one. As part of the remortgage process to remove your husbands name from the mortgage, your solicitor will complete the legal side to take his name from the title deeds simultaneously.
With regard to any monies, although your husband may not have contributed directly to the mortgage, nor the deposit, etc.. if he has contributed to the household in other ways, then he may be eligible for a portion of any equity in the property, however you would need to discuss this with your solicitor.
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