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Clare
Clare, Solicitor
Category: Property Law
Satisfied Customers: 34105
Experience:  I have been a solicitor in High Street Practise since 1985 with a wide general experience.
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I jointly occupy freehold property with my mother, who holds

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I jointly occupy freehold property with my mother, who holds the freehold title. There is a first mortgage charge secured against the property, and some Charging Orders The mortgage is an interest-only loan, the capital remaining outstanding, with my mother paying only instalments towards interest (in addition to part of the interest paid by the D.W.P. by S.M.I.).
The problem is that the term of the mortgage expired in July, 2014, and whilst monthly payments, as abovementioned, have been maintained up-to-date, the capital remains unpaid. The mortgage lender has resorted to repossession, having been granted an Outright Order for Possession, a Warrant of Possession, and we have been served with a Notice of Eviction. My question is can I add my own name to the freehold title, so that I can apply for a re-mortgage loan, and apply to the court for suspension of the Warrant on the grounds that I can settle the debt?
Submitted: 1 year ago.
Category: Property Law
Expert:  Nicola-mod replied 1 year ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Expert:  Clare replied 1 year ago.
Hi
Thank you for your question
My name is Clare
I shall do my best to help you but I need some further information first
Are you certain that you can raise the funds?
Clare
Customer: replied 1 year ago.

Thankyou for replying Clare. I am already dealing with a reputable mortgage broker, and as I don't need a deposit for a re-mortgage, I consider it possible to borrow the funds. I would appreciate your opinion.


Expert:  Clare replied 1 year ago.
Hi
You cannot apply for a re-mortgage - you need to apply for a Mortgage and "buy" into the property - and arrange to do so as soon as possible
It may be necessary for the property to be placed in your sole name with you signing a Declaration of Trust to protect your mother's interest in the property.
Please ask if you need further details
Clare
Clare, Solicitor
Category: Property Law
Satisfied Customers: 34105
Experience: I have been a solicitor in High Street Practise since 1985 with a wide general experience.
Clare and other Property Law Specialists are ready to help you

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