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Thomas Judge
Thomas Judge, Family Lawyer
Category: Family Law
Satisfied Customers: 33037
Experience:  Over twenty-five years experience
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My husband, dad and myself, are all on the title deeds, since

Customer Question

My husband, dad and myself, are all on the title deeds, since I lost my mum, we all moved in together to look after Dad. We have no mortgage, but are trying to get a mortgage for £40k, to debt consolidate and home improvements. We are having trouble because Dad is on the deeds and he is 72. Can we have him removed, but he still love in the property? Not sure what else we can do? Thank you, Corinna.
Submitted: 2 years ago.
Category: Family Law
Expert:  Thomas Judge replied 2 years ago.
Firstly you can have him removed from the deeds and for him still to stay there. There may however be IHT considerations if he transfers the property to you and your husband for nil benefit and you will need to speak to an accountant to check this. That said the process of transferring it in to your names is reality straight forward and can be done by a conveyancing solicitor for a few hundred pounds. Happy to discuss - please rate positively.
Customer: replied 2 years ago.
Hi Thomas, thank you for your reply. What is IHT? Would we have to wait for a certain amount of time after taking his name off the deeds, before we could apply for a mortgage? Thanks
Expert:  Thomas Judge replied 2 years ago.
IHT is inheritance tax and you would not have to wait after taking him off the deeds - I hope that this helps - please rate positive
Customer: replied 2 years ago.
Is IHT something that we would have to pay upfront? Sorry, don't understand all this stuff!! ;-(
Expert:  Thomas Judge replied 2 years ago.
No. It applies when some one dies and gets tapered back for the previous 7 years. Please rate positive. Thanks
Customer: replied 2 years ago.
Thank you, ***** ***** that has helped a bit.
Expert:  Thomas Judge replied 2 years ago.
My pleasure - please rate positively - thanks
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Customer: replied 2 years ago.
Hello, sorry, me again. We have an appointment with the bank on Monday, so just wanted to get all my facts straight before we see them. I have been told by a financial advisor, that although the deeds have3 names on it, we can apply for the mortgage with just 2 of those names, is that correct do you know? If not, can we do a transfer of equity at the same time? Thank you.
Expert:  Thomas Judge replied 2 years ago.
Yes that sounds very sensible.