removing a name of a mortgage help please

[getmeout66]

Hi there, this is my first post on this forum, and ireally hope you can answer a question for me here. My partner and her elderly mother each own part of the house we live in 2/3rds to my partner and 1/3 to her mum,but we need to remove her mum off the mortgage and her mum is willing to do this but she doesnt heve the £500 solicitors fee to do this. Is there any other way of doing this or can she get financial help to do this at the age of 72? could someone tell me what steps we need to make to start this? thanks

[enquirer]

Re: removing a name of a mortgage help please

You say 'off the mortgage', but do you actually mean 'off the title deeds'?

If there is a mortgage, then you won't be able to do either without the permission of the lender.

If there isn't a mortgage, then she can simply deed her interest to someone else. You will need to complete a variety of forms as well. You can do this yourself, but it does have to be right, so beware.

If a solicitor is talking about £500, shop around. A registered Conveyancer will certainly be cheaper. There will be Land Registry fees to pay as well. There is no financial assistance.

This will give you an idea:
http://www.hip-consultant.co.uk/blog...-property-123/

[getmeout66]

Re: removing a name of a mortgage help please

thanks for your reply, yes i meant off the deeds, apparently my partner has been to the lender (nationwide) to see about this but they said they would`nt do this because of her age, and said she would have to re mortgage the house herself to erase her mums name off the deeds which she couldnt afford to do . So if thats the case, would she be able to sell the house under these circumstances?

[enquirer]

Re: removing a name of a mortgage help please

thanks for your reply, yes i meant off the deeds, apparently my partner has been to the lender (nationwide) to see about this but they said they would`nt do this because of her age, and said she would have to re mortgage the house herself to erase her mums name off the deeds which she couldnt afford to do . So if thats the case, would she be able to sell the house under these circumstances?

If your partner and her mother are both on deeds and mortgage, their reply is as expected.

Who is the 'she' selling the house, and what exactly are the 'circumstances'? What exactly are you trying to achieve - or avoid?

[getmeout66]

Re: removing a name of a mortgage help please

Sorry, "She" meaning my partner, One problem we have is her mothers habit to lend money through doorstep loans, and also has an IVA in place,plus we recently had a visit from bailiffs re her debt!! and the atmosphere in the house isnt exactly nice , so you can probably understand why this is so important to us as as its our family home. On the bright side the mortgage is nearly paid with a shortfall of only £6k left to pay in 2016.

[enquirer]

Re: removing a name of a mortgage help please

Ah ...

I suspect that your best bet is to stave off the DCA's and for the three of you to somehow scrape together the remaining £6k with a view to paying the mortgage off earlier. When that's done, taking her off the deeds will be relatively easy.

Why the visit from the bailiff? Was it really a bailiff, or just a DCA? Is there any danger that a creditor will try to force a sale of the house? How is the title held - tenants in common or joint tenancy?

[getmeout66]

Re: removing a name of a mortgage help please

Unfortunately she wont tell us everything re the bailiff visit, she just tells us its sorted but we cant afford to trust her word Whats a DCA? Debt collector? theres no chance of any creditor forcing the sale of the house as the loans are not secured and the IVA shes in protects the house.

[enquirer]

Re: removing a name of a mortgage help please

DCA - Debt Collection Agency.