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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3775
Experience:  Solicitors 2 years plus PQE
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Hello, I'm looking into having my ex-partners name removed

Resolved Question:

Hello, I'm looking into having my ex-partners name removed from the mortgage on the house. I've owned the house for 5 years, and she only lived there for 7 months of that time, but never contributed to the mortgage or bills apart from the shopping. The house was in negative equity when she moved out, but is now probably in the black due to current house prices. My question is, is she entitled to anything if she agrees to have her name removed. There are no children involved either.
Regards
Mike Jolliffe
Submitted: 3 years ago.
Category: Law
Expert:  Alex J. replied 3 years ago.
Hi,
Thank you for your question and welcome.
My name is ***** ***** I will assist you.
Is she listed as a legal owner of the property?
You will only be able to remove her from the mortgage if the bank consents as well.
I look forward to hearing from you.
Kind regards
AJ
Customer: replied 3 years ago.

Yes her name is ***** ***** mortgage papers

Customer: replied 3 years ago.

Yes her name is ***** ***** mortgage papers.

Expert:  Alex J. replied 3 years ago.

Hi, Thank you. Do you know - do you own the property as "joint tenants" or "tenants in common". These are the two forms of joint ownership? Also do you know if there is any equity in the property and is the mortgage interest only or a repayment mortgage? Kind regards AJ

Customer: replied 3 years ago.

I assume we are joint tenants. I also assume there is equity in the house as prices have risen in the area, and the mortgage is a repayment mortgage.

Expert:  Alex J. replied 3 years ago.
Hi,
Thank you.
To the extent that you alone have either made payments towards the capital and paid the deposit, you are entitled to this capital and deposit to be returned to you.
If their is further equity in the house, she may have a claim on this. Do you have any rough estimate as to how much equity is in the house when you deduct the mortgage deposit and repayments so far?
Kind regards
AJ
Customer: replied 3 years ago.

After i have taken what i have paid on my mortgage out of the equasion, there will be very little,if any equity left. So i think my question has been answered. Thankyou for your time.

Mike

Expert:  Alex J. replied 3 years ago.
Hi,
Thank you.
You do not have to pay her the equivalent of half of this, it all comes down to what ever she will agree in order to sign the documents (i.e transfer deed).
Further more I doubt the bank will release her from the mortgage anyway so the fact that you can offer to take responsibility for this should be sufficient to convince her to sign over her legal interest in the property.
Kind regards
AJ
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