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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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I am currently the owner of my house but have in the past relaeased

Customer Question

I am currently the owner of my house but have in the past relaeased an mount of the equity. I am now married to a much younger person and we wish to repay the equity and take out a repayment mortgage but because of my age I am unable to get a suitable mortgage. However my husband is able to and I am quite happy for the ownership to be transferred to him ( with some sort of legal agreement ensuring I would not be homeless should anything in the furure happen ).
I really need some advice on the best and cheapest way to go about this !
Thankyou
Submitted: 3 years ago.
Category: Law
Expert:  Alex J. replied 3 years ago.
Hi,

Thank you for question and welcome.

My name is XXXXX XXXXX I will assist you.

Who will be responsible for paying the mortgage?

Kind regards

AJ
Customer: replied 3 years ago.

We tend to share all the household expenses and I would be happy paying half the mortgage even though it can't be in my name.

Customer: replied 3 years ago.

I don,t seem to have received your reply I responed to your question but have heard nothing since


 


Regards

Customer: replied 3 years ago.

An answer would be most appreciated or at least some sort of repky.


i dont consider this very good value for £33 !!!

Customer: replied 3 years ago.
Relist: Other.
He asked for further information which I gave but 6 1/2 hours later I have not heard anything further from him
Expert:  UKSolicitorJA replied 3 years ago.
Thank you.

I would suggest that your husband enters into a declaration of trust in your favour setting out what share in the property is yours beneficially, even though the title is in his name (it is not now but will be eventually)

The declaration can also stipulate that you have the right to live in the property rent free for whatever duration as may be agreed.


If both of you live in the property as your marital home, then you hAve the right to live in it anyway even if your name is XXXXX XXXXX the deed, until you were to die or until your divorce is finalised.

Hope this helps
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience: English solicitor with over 12 years experience
UKSolicitorJA and other Law Specialists are ready to help you
Customer: replied 3 years ago.

Yes, thank you, that is a great help

Expert:  UKSolicitorJA replied 3 years ago.
Welcome.