Success! I got him off the deeds and the mortgage with the bank's agreement

Discussion in 'Issues arising from joint mortgages' started by Muddle2018, 3 Feb 2019.

  1. Muddle2018

    Muddle2018 Registered User

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    Not sure if my situation is the same but definitely similar in ways. I have posted before but a general synopsis is that we bought in 2003, remortgaged 2004, split in 2006 and he stopped paying anything towards the house from 2007. He actually walked into the bank and handed them back the keys at that point in 2007 and walked away, refusing to give them his new contact details. I took on everything myself at this point.

    In 2013 we finally got divorced. I got statements together from my bank and the mortgage company and proved it was solely myself paying everything. My ex husband then signed an agreement that he would surrender his interest in the home which was the intended agreement and I walked out of court with a lot of debt but he walked out with no rights to my property. His name is connection to the deeds but he cannot benefit from my death nor can he force a sale unless I stop paying the mortgage for a period of I think 6 months or more. I was told in court to try and get his name off the mortgage as soon as i could.

    In 2015 I was granted a split mortgage without his signature as he was non contactable. This is the reason given on every bit of paperwork through the bank.

    2018 I was deemed inpacted and sent a pack. I was owed a lot of interest and a fair whack of redress. This is when my ex had to be contacted again and this is when it went a bit pear shaped but potentially for the best. HIs solicitor is saying I never intended to try get his name off the mortgage as I entered into a split so he will not sign the redress over to me unless I put it off the mortage and try to get his name off the mortgage which I now see is the best course of action. Despite showing and proving 11 years of repayments the bank have asked that from last month for me to pay the full amount each month for three months (full being the amount my mortage will be going forward putting the split back together and keeping tracker rate) and then we can go through the transfer to get his name off. Once that is done I can put in details to the land registry and have him removed as this is what my court order said.

    Basically the one thing that stood to me throughout all of this is patience, a good support network and the fact I am still alive because up until the divorce date over 7 years after we split up, he still had rights to benefit from a home he was not making any payment towards.
     
  2. Brendan Burgess

    Brendan Burgess Founder

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    Hi Muddle

    That is exactly what I was looking for.

    Was that something you agreed with him and got the court's approval of?

    Or did the court order it?

    Brendan
     
  3. Muddle2018

    Muddle2018 Registered User

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    It was something the solicitors agreed on our behalfs. The house was in 64k arrears and 100k negative equity so his solicitor jumped at the chance for me to take it on rather than be forced to sell and we both in a severe amount of dept with neither of us anything to show for it.
    My barrister had it ready to go before we went into the court room on day of divorce and he signed the agreement in front of both our solicitors and barristers and he never needed to be in the court for the divorce.
     
  4. Muddle2018

    Muddle2018 Registered User

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    A very quick update -I am awaiting the transfer of equity decision.

    Bank wanted a further three months payment which is the cost of the full mortgage - split put back together - to see if i could afford it despite the payment being only about 50 euro more per month than what I was paying prior to getting the tracker back.

    If this works for me and my solicitor is fully confident as am I to be honest as my ex has proven to be a ghost where the bank is concerned then it will be one of the first cases apparently they have dealt with like mine. Basically they have to put the split back together, remove my ex, sort out documents and get everything signed off as a full new mortgage in solely my name and then get my ex to sign a further form releasing the tracker compensation to me because they actually cannot accept the payment towards the mortgage while we are going through this process which I find quite amusing as my ex and his solicitor were of the opinion that throwing MY compensation at MY mortgage would release him. Apparently though, it cannot be used as a bargaining chip as neither of us actually has the cash so neither of us can put it against the mortgage! This means of course that I will get my cash IF they release him from the loan.

    For now we wait but now it is not a long wait. I was told on Monday that it would be a week to ten days before I find out if they will take him off the mortgage. I see no reason why they will not because they do not even have his actual home address, they have his mothers where he has NEVER lived. They also only have his phone number because I sourced it for them and gave it to them last year. He did not sign the financial parts of the transfer of equity, literally just signed that he wanted to be off it and they can only go on that so all of that does sound positive for me but again, this is a bank. Logic over the years has not been their strength.
     
  5. Muddle2018

    Muddle2018 Registered User

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    And it has been agreed!! I got the call this morning and a pack with new mortgage details to be sent in post this evening! I am ecstatic.

    Can anyone advise will I be liable for stamp duty though on this?
     
    Purple, so-crates and Jazz01 like this.
  6. Brendan Burgess

    Brendan Burgess Founder

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    Hi Muddle

    That is great news. Well done for persevering.

    I don't know the answer to the stamp duty question. It wouldn't apply if you were still married, but I assume divorced people have to pay it. It would be 1% of half of the value of the house.

    Two questions...

    1) Has he signed the transfer of the deeds to you?
    2) You are getting a new mortgage in your sole name - I presume that you keep the tracker rate?

    It's a fair compromise from the lender. Allowing you to take over the loan if you pay a lump of cash off the balance outstanding. I have seen that before.

    Brendan
     
  7. Muddle2018

    Muddle2018 Registered User

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    Transferof deeds was done in divorce 6 years ago in court. Transfer off mortgage has been done now as he has filed all of his paperwork and me mine.

    Yes they are putting the split back together and letting me keep tracker on the full amount.

    They got no lump sum in the end. The compensation is still to be signed over to me at this point and hopefully done soon! Have to have home valued with their valuer at their cost so will find out soon enough if stamp duty applicable.
     
  8. Brendan Burgess

    Brendan Burgess Founder

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    37,014
    Wow. That is a very good deal indeed.

    Brendan
     
  9. Muddle2018

    Muddle2018 Registered User

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    Well I have been fighting this and paying the mortgage alone since 2007 and the house is in a fair bit of positive equity plus they messed up with my whole tracker thing so no more than I deserve :D

    That said i know it is a very hard process and I wish anyone luck who is about to embark on the journey themselves. I am so happy to be finally (almost) finished!