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Property transfer?

  • m.tonks
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07 Aug 12 #347909 by m.tonks
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Hi,

Will a building society accept a transfer of property from joint names to sole (STBX wife) and leave the mortgage in joint names, whilst she uses best endeavours to move mortgage in to her sole name?

I would have a small charge over the property until it is sold at some point.

Muscrat

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07 Aug 12 #347915 by cookie2
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You would have to ask the building society. This is quite common, though.

  • minxy1912
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07 Aug 12 #347938 by minxy1912
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hiya,
iam going through the same,so i can tell you the answer is NO, unless she can afford the mortgage alone,then she will have to reply for it. Hope that helps.
Minxy

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07 Aug 12 #347948 by Reddit
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Minxy the correct answer is probably. In my case the answer is a definite YES. The OP is asking about transferring title, which is not the same as transferring the mortgage.

  • eyes on horizon
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07 Aug 12 #347954 by eyes on horizon
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Yes this is very common and is often referred to as a Mesher Order. You can have a variety of ''trigger'' points that would instigate the remortgage or sale..youngest child 18, remarriage, cohabitation for a predetermined period of time, non occupancy..the list goes on. the key is to ensure that there are no loopholes that allow for one to be trapped indefinitely as there mortgage ability will be affected whilst they still remain on the FMH mortgage. (in most cases)

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09 Aug 12 #348430 by m.tonks
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So Mortgage company will not allow transfer of title to STBX, NOW without also taking me off the Mortgage, which would mean a new mortgage application by her, which they would not take forwards.

So is the only way to only transfer title once a certain trigger occurs, set date, or co habitation, or re marriage etc etc.

Just want this finished, and this is the only thing holding it up!

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09 Aug 12 #348432 by QPRanger
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eyes on horizon wrote:

Yes this is very common and is often referred to as a Mesher Order. You can have a variety of ''trigger'' points that would instigate the remortgage or sale..youngest child 18, remarriage, cohabitation for a predetermined period of time, non occupancy..the list goes on. the key is to ensure that there are no loopholes that allow for one to be trapped indefinitely as there mortgage ability will be affected whilst they still remain on the FMH mortgage. (in most cases)


Hi: what you have described is exactly where the ''learned'' judge who drew up our Court Order has left me. Transfer property to her, she to use her ''best endeavours'' to get me off mortgage (never gonna happen)and absolutely NO trigger points.

The man was a blithering idiot. IMO. :angry:

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