Amicable Separation Ex Name Coming off Mortgage

PW12345

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Property Value approx 350000
Remaining Balance 53000/5 yrs
Tracker Mortgage 0.75


Hi My ex husband (not formally/legally separated or divorced) wants to take his name off the title deeds and sign all rights to property to me. I am in a position to potentially secure a loan for 40000 he will also clear the further 13000 to clear outstanding balance. In order to satisfy the loan requirement at CU I am told I require solicitor letter which indicates that ex will waive all future rights claims etc. Although this has been written up and can be notarised by his solicitor/notary my solicitor refusing unless this is part of legal separation agreement. I understand the CU and Solicitor requirements are for my security and we do intend to follow that route in the future however the immediate goal was to clear mortgage and leave me as sole owner ?? Do we have to have legal separation for this to happen ? In advance I am very aware of the interest rate of CU and the implications of clearing tracker. My ex will also be continuing to pay this loan in my name until the loan is cleared also in writing. Thanks for any advice.
 
Thank you for that. However do you know if it is possible to do this without separation agreement ?
 
However do you know if it is possible to do this without separation agreement ?
Easiest way is to pay off the mortgage without a formal loan like the CU. I know you and ex want to probably get sorted but it would make more sense to overpay the tracker for two or three years and wait till it's paid off. Both of these probably not suitable for you right now I guess.
 
Thanks for your response. Yes you are correct however this was one aspect we just wanted to do asap.
 
IANAL

Your Soltr is spot on.

Without JS SA or Divorce decree I believe the property will still be viewed as the Family Home within the meaning of the Act.

So whilst it is 'possible' provided you don't need secured finance, you would be leaving yourself a hostage to fortune.
 
Thanks for your reply. Just to be clear my ex has not resided in family home for many years he has resided abroad. Also he is taking his name off the title deeds would this not mean he would not have a claim to the property in the future ?
 
Also he is taking his name off the title deeds would this not mean he would not have a claim to the property in the future ?
The bank will not allow this as long as there is a mortgage. Same for the CU. If you had the deeds you could do so but the bank has them.
 
Yes Thanks I understand that I meant when mortgage was cleared. Thanks for your advice.
 
taking his name off the title deeds would this not mean he would not have a claim to the property in the future?

You need to listen to what your Soltr is telling you.

As long as you are still legally married, (and without a JS, SA or Divorce you are still legally married) the property is regarded as the family home. That means that you both have joint ownership, regardless of deeds or mortgages.

So, you would not be able to sell or re-mortgage the property without his signature, so long as you are both legally married.

Why not just get the JS/Divorce?
 
Your ex cannot 'take' his name off the deeds of the house. He has to BE taken off. The only people who can do that are your bank. I have been there trust me and it was a lengthy process for me although my ex was not a willing participant and caused many issues but laws are laws and the bank will NOT just remove a name from title deed for no reason. They need to protect their asset and that is essentially what your house is to them.

Talk to your bank. Then talk again to your solicitor and get your solicitor to talk to your exes solicitor.
 
Just to add even though your plan is to take him off the mortgage that is actually as hard as removing from the deeds if not harder. Again it is the bank that can do it - your ex or his solicitor can do nothing if the bank do not agree. His name needs to be off the mortgage before coming off the deeds. Once he has signed everything over with solicitors etc it can take anywhere from 2-12 weeks for his name to come off the deeds. If you read through my previous threads you will see I am coming from experience on this. Best of luck.
 
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