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Read our latest Financial Settlements guide (2021)

What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.

Mortgages

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WYSPECIAL
Posted by
Moderator

04 Jun 12 #334977 by WYSPECIAL

Topic started by WYSPECIAL

Hi,

If wife wants to come off our joint mortgage does she have to approach the lender or do I?

If wife came off mortgage but remained on land registry would I be able to get a mortgage/secured loan on the property in my sole name or would I need her permission?

dukey
Moderator

04 Jun 12 #334998 by dukey

Reply from dukey

Its up to the lender to decide if your wife can be released from the mortgage.

If your wife remains on the title you don`t soley own the property so it very unlikely you could remortgage without her permission.

WYSPECIAL
Posted by
Moderator

04 Jun 12 #335019 by WYSPECIAL

Reply from WYSPECIAL

dukey wrote:

Its up to the lender to decide if your wife can be released from the mortgage.

If your wife remains on the title you don`t soley own the property so it very unlikely you could remortgage without her permission.

Cheers but who needs to approach the lender? The wife to ask to come off or me to ask to be soley responsible?

dukey
Moderator

04 Jun 12 #335022 by dukey

Reply from dukey

Its a joint mortgage my friend its best to approach as one, its a case of this is what we would like to happen, they will almost certainly then ask you to make an application in your name to see if they will allow you to take it over alone.

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Moderators: wikivorce team, rubytuesday, dukey, hadenoughnow, Tets, Shezi, Linda Sheridan, Forseti, Mitchum, WhiteRose, Lostboy67, WYSPECIAL, Bubblegum11