Transfer of Title refused

Posted on 10 December 2011 by tracey


My husband and I are separating after 15 years of marriage. Initially he took out the mortgage on our home by himself, as it was the easiest thing to do at that time.  I paid the £6000 deposit.  We married 5 months later and I was added to the mortgage and deeds 3 months after that.  Our mortgage company said I could take over the mortgage, but now 5 weeks later after getting a solicitor and sorting out all the relevant forms, my application has been declined.  The reason given as I was not the original mortgagee that I can not be the sole mortgagee.  I can be removed but my husband can not.  So I now have to remortgage.  I am very upset as I feel I have been given the wrong advice.  Is there any way round this?  The mortgage rate is low and I can easily afford the payments.  We were never told of this possibility when I was added to the mortgage and yes I have complained to Bradford and Bingley.

Tracey

Bradford & Bingley have 8 weeks to sort out your complaint with you, after which you can ask the Financial Services Ombudsman (FSO) to get involved.  The FSO will look at your side of the story and then contact B&B to get their side, once they have the facts they will decide whether or not you have been treated fairly and if not, they can ask B&B to put things right for you.

As you can imagine this can take anything from a couple of months to a year or more to resolve and at the end of that time you may still be in the same position as you are now.  I suggest that you talk to your solicitor about whether it is possible to pursue B&B in the courts either for a decision change or for compensation for any loss you suffer by remortgaging.

I believe we can help you if you do need to remortgage and that you would benefit from speaking to one of our independent mortgage advisers.  Please call 0344 346 3672 and they will then be able to advise you on your situation.

Peter

Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

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