How to sort the mortgage?

Hi,

I now have Decree Nisi, and I am trying to get the Finance order sorted.

Have it all worked out, but found out that needed the okay from Mortgage company to transfer the property in to her name, and move the mortgage to her.

The mortgage company have said that will need to be a new application, even though we have been with them for about 20 years!

Also She doesn''t want to have the mortgage in her name!! arrgghh

As the transfer of the house is the main part of the Clean Break, I am now at a loss of how to sort this out!

Does anyone have any ideas?

Please ask questions if I have not given enough info.

Just want to be divorced!

Muscrat.

Hi and welcome Muscrat.

I have been told on here that transferring the property to my stbx does NOT need the mortgage company to agree...

And what did the Order say about the mortgage? Did it say she had to use her ''best endeavours'' to transfer the mortgage into her name? If so this is pretty much worthless I''m afraid...

Yes it is normal for a change in names of a mortgage to be treated as a new application. No matter how long you''ve been with them. They work on a risk basis, if your name is being removed then they need to know the risk of having your wife as sole applicant is a good risk. What is her income, and what is the mortgage amount? Is she likely to be approved on her own (if she did apply)?

Using her best endeavours to change the mortgage into her sole name should be a part of the Consent Order. If she wants that removed then you should say no, it is not negotiable.

Thanks for replies.

The paperwork I have from the solicitor, asks if we have the agreement of mortgage company. (This is the company used by this website)

So are you saying that it could be like this

Transfer of House to STBX
STBX to make best endeavours to change mortgage into her own name.

I intend to have a charge over about £12K on the house anyway.

She is not currently working, so unless the mortgage company takes maintenance into account then she will not get a mortgage on her own.

Life is so complicated.

Muscrat

Or Can I transfer the property in to her name but keep a charge over the part that has the mortgage and my £12K.

Will the Mortgage company still need to be involved in this change?

Please help.