Hi all, This is my first post. My husband left me in feb last year after i found out about his numerous affairs. Anyway have got my Decree Absolute yesterday. I am just waiting for the Consent Order to come back from the court stamped. In it the house is going from joint names to my sole name only and the equity is coming to me, as there are a lot of his debts on the mortgage. It was agreed through mediation that i could keep the house and any equity so long as his name comes of the mortgage releasing him of any financial commitments.
What i want to know is how is this done. I am happy with my mortgage company and don't really want to remorgage if possible. Do i need a solicitor to get his name off title deeds and mortgage. Will the mortgage company allow me to take his name off. I have been paying it on my own without fail for over a year now.I know there are forms that i have to fill in from mortgage company to do with transfer of equity. What i need is a step by step process of how it will happen. I like to know what happens . How much will it cost approx? and how long should the process take.?
Sorry so many questions. Would be so grateful for any advice
I went through this last year, when my name was taken off the joint mortgage I had with an ex-boyfriend.
It is a relatively easy process, much like conveyancing. The solicitors did all the paperwork, and then I signed it, he signed it and the mortgage company rep signed it. All in all, I think it took about 4 weeks.
He also indemnified me against the debt, which was all laid out in the form that I signed. I think he then got a new mortgage anyway, so that mortgage has completely disappeared. You may want to look into that?
I can't remember how much it cost, but it wasn't as much as I thought - my guess would be less than £1000 - probably not more than the normal conveyancing when you buy a place. I don't know whether it cost him any extra though.