Posted on 17 September 2012 by sean
Hi, my late partner died 4 years ago and had a Halifax Lifetime Mortgage. Since his death i have continued paying the mortgage and living in the property. The account is in the name of the Executors of `deceased`. Which is me. I am also the sole beneficiary in the will. I am self employed and on a low income and would not be able to mortgage for the balance which is about £65k. The property is worth about £160k. Now i have received a letter from the landlords because the property is leasehold saying i need to register at land registry the property in my name and i am very worried doing this in case it makes the Halifax insist i get a mortgage in my name.
Halifax have a prior claim to the property and my understanding is you will not be able to amend the records at the Land Registry without their permission. They will probably ask you to complete a transfer subject to mortgage form and a confidential questionnaire, which will allow them to assess whether or not you can afford to take over the mortgage. If they decide you can not then you have 2 options, 1) remortgage to another lender or 2) Sell the property and redeem the mortgage.
Despite your self employed status and low earnings, it may still be possible to arrange a remortgage. You should 0344 346 3672 and speak to one of our independent mortgage advisers, please tell the consultant the date and title of your question and they will then be able to assess if we are able to help you.
I have referred your enquiry to Rollingson's, our in house solicitors for them to advise you from a legal point of view and they will be contact shortly.
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