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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3557
Experience:  Solicitors 2 years plus PQE
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Hello, I need advice regarding my son. He and his girlfriend

Customer Question

Hello,
I need advice regarding my son.
He and his girlfriend (now ex girlfriend!) purchased a house in england approx 8 weeks ago.
He wants to know if he will be able to keep it on his own?
He doesn't want to sell it as it is a fixed rate for 2 years and they will lose £6000 in fees.
Should he contact the lender and if so will they allow him to keep it?
Or if he pays her £20k for what she has put into it can her names be taken off the deeds?
Or can there be a legal document put in place to say she has no rights to it and i pay her £20k and get my name on the deeds or have a legal agreement in place?
Lastly if he sells it and bought a smaller property with the same mortgage company would this be classed as changing products and he will still have to pay the redemption penalties?
Or are there any other solutions?
Many thanks
Sharon
Submitted: 2 years ago.
Category: Law
Expert:  Alex J. replied 2 years ago.
Hi,

Thank you for your question and welcome.

My name is ***** ***** I will assist you.

1. It is possible for him to keep the property - he can buy her out and assume responsibility for the mortgage payments however you will need consent from the mortgage company to take her name off the mortgage. The mortgage deed is entirely separate from the property deeds, and these can (subject to the terms and conditions of the mortgage) be quite easily transferred solely to your son if he purchases the property outright. You will need a solicitor to do this (as the mortgage company will insist) and just to do the paper work will likely cost between £250-£500 if you go to a local solicitor.

2. If he wants to change the mortgage to a new property without incurring a penalty he has to ask the mortgage lender if the mortgage is "portable" if it is then normally they allow the mortgages to be transferred to a new property if the transfer is made within about 30 days of the old property being paid off.

Is he eligible for the mortgage on his own?

Kind regards

AJ
Customer: replied 2 years ago.

Sorry i know all of that ......sorry prob didn't explain too well. ....He would not get a mortgage for the same amount based on his wages alone.......but he could get a lodger or let it out or move to a smaller house.


If he got a lodger/or rented house out.....would the mortgage company allow this if her name were no longer on the docs ?


If he bought a smaller property would he still have to pay redemption fees if he stayed with the same lender?


If they do not tell the mortgage company anything .....and my son has lodger and she doesn't have anything to do with property and i pay her £20k can she ever go after him for half of the house in the future?


hope i explanined it a bit better?


thanks very much


 

Expert:  Alex J. replied 2 years ago.
Hi,

Thank you.

1. If the property is owner occupied then it should be fine to have a lodger. You have the check the terms and conditions of the mortgage to see if you are required to obtain consent from the mortgage lender first;

2. If the mortgage is "portable", sometimes the terms and conditions will allow as little as 75% of the mortgage to be ported with incurring early redemption charges. You can find this information on the "Key Facts Sheet" of the mortgage;

3. If you are not going to tell the mortgage company anything, and you want to pay her £20k, you need to get her to sign a deed assigning the beneficial interest in the property to him completely.

I look forward to hearing from you.

Kind regards

AJ
Customer: replied 2 years ago.

Thank you,


Can you tell me if i need to go to a local solicitor to get the deed which she would need to sign if he chose option 3 or can i get one online?


many thanks


sharon

Expert:  Alex J. replied 2 years ago.
Hi,

Thank you.

To get the deed transferring the beneficial interest I would strongly recommend using a solicitor. The subject matter is for the purchase of a beneficial interest and if anything goes wrong with the paper work you would have the benefit of indemnity insurance from the solicitor.

Kind regards

AJ
Alex J., Solicitor
Category: Law
Satisfied Customers: 3557
Experience: Solicitors 2 years plus PQE
Alex J. and other Law Specialists are ready to help you
Customer: replied 2 years ago.

Hi,


Just one more question ...sorry:


Can you tell me if my sons girlfriend can make him sell the house in anyway?


thanks

Expert:  Alex J. replied 2 years ago.
Hi,

Thank you for your question.

She could only force him to sell the house if she got a court order. This would be expensive to obtain.

Kind regards

AJ
Customer: replied 2 years ago.

Hello again,


Are you able to tell me if my sons ex can force him to sell as she has a deed of trust (which i have attached) ?


If so do you have any idea what this would cost her if he fought it?


thanks very much

Attachment: 2014-06-30_064304_deed_of_trust.pdf

Expert:  Alex J. replied 2 years ago.
HI,

Thank you.

I ll have to review this, but it would have to contain a contractual right to allow her to force a sale.

I will look at this and revert you as soon as possible.

Please do not be concerned if you do not hear from me until later this evening.

Kind regards

AJ
Customer: replied 2 years ago.

Hi,


Thanks for your reply,


Would be much appreciated if you are able to get back to me by this evening if poss ?


many thanks


sharon

Expert:  Alex J. replied 2 years ago.
Hi,

Thank you.

No problem. I am just look at it now.

Kind regards

AJ
Expert:  Alex J. replied 2 years ago.
Hi,

Thank you.

I have reviewed this. I cannot see any where specifically that it says your son's girlfriend has the right to force a sale of the property. So she does not have a contractual right.

It does say the property is intended for joint use, therefore it could be argued that your son should pay her some rent possibly while she does not occupy the property.

I look forward to hearing from you.

Kind regards

AJ


Customer: replied 2 years ago.

Hi,


Ok thanks for that.


Neither of them live at the property and have never done so ....it has been empty since they bought it.


So if my son does not agree to sell and she decided to take him to court what would happen and who would be liable for the costs?


Sorry for all questions but he is so worried that he will lose everything he has put into the house if he is forced to sell.


I will of course give you a bonus for answering these extra questions,


many thanks


sharon

Expert:  Alex J. replied 2 years ago.
Hi,

Than you.

The costs will really only be a factor if she engages a solicitor.

The general rule is the loser pays, but for something like this I would not expect the court would allow you to run up excessive costs.

I know we have discussed this before but can you not rent the house and start generating an income from it? If the girlfriend is receiving some money from it, she is less likely to start demanding a sale.

Kind regards

AJ

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