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Joshua, Lawyer
Category: Family Law
Satisfied Customers: 26070
Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
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If I remove my name of our joint mortgage will this affect

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If I remove my name of our joint mortgage will this affect the TL1 and does this mean I don't get my half ? My partner wants us to get back together but will only do it if I give her the house ?

Joshua : Hello and thank you for your question. I will be very pleased to assist you. I'm a practicing lawyer in England with over 10 years experience.
Joshua : May I clarify TL1 please? Do you mean TR1 or something else please?
Joshua : Are you married please or are there any children involved?
Joshua : Do you have any form of declaration of trust in place setting out your respective shares in the property?
Customer: Yes sorry TR1
Customer: yes TR1. No we never got married but we lived together for 12 years with a joint mortgage we split up 7 months ago now she is missing me and wants to start again but will only do this if I remove my name of the mortgage? We have no children and as for a declaration form I don't think so I want to start again with her as we both love each other but I feel will lose my half if I do this can you help keith
Joshua :

Thanks. if you were to simply remove your name from the mortgage, all this would achieve is that you were no longer liable for the mortgage. It is legally possible for you to be a legal owner of a property and not be a borrower under the mortgage however the overwhelming majority of lenders require that borrowers must be the same people as legal owners and therefore it is very unlikely that your lender would allow you to remove your name from the mortgage and at the same time remain a legal owner.

However, from what you say, notwithstanding the above, I strongly suspect that your partner is seeking that you transfer the property to her not that you remove yourself from the mortgage as this would make her solely liable for the mortgage but give her no benefit.

if you were to transfer the property into her name without simultaneously signing some form of declaration of trust retaining a financial interest in the property then she would be able to seek to claim 100% of the benefit of the property at a later date

Joshua :

as above, it is possible to transfer the legal title into your partner's name and to sign a declaration of trust between you that declares that although she is the legal owner, you are entitled to a ?% financial interest in the property. However, from what you say, she appears to be seeking that you transfer your interest in the property to her as some form of show of good faith

Joshua :

if this is the case, how you proceed is of course and must be entirely your decision. However, for what it is worth, I would be extremely cautious to say the least in considering this course of action. You would be giving away your financial interest in the property which may be considerable at present and there would be nothing preventing your partner the day after you do it leaving you in selling the property and taking all the benefit for herself. I have encountered a number of situations where precisely such a situation has happened where one partner has been induced through one form or another into transferring a property only for that partner then to leave and take everything. It is at the least a very large financial gamble

Customer: That's what she said this would show her she can trust me and i am being honest towards her but I feel this is then easy for her to say sorry after a month or two and I have given it all to her?
Joshua :

far be it from me to engage in relationship counselling but stepping aside from the legal aspect for a moment, to my mind reconstituting a relationship based on emotional and financial blackmail is a far from positive basis on which to found a relationship going forward as relationships are fundamentally about mutual trust. However as above this is a very personal choice which must be your own rather tahn anyone elses but the comments you make above are quite accurate.It is apart from anythignelse a huge gamble on your part

Joshua :

Just as a side though one way to potentially sidestep the issue entirely might be that your mortgage lender may refuse to remove you from the mortgage. They may do so if they do not consider that your partner is financially able to afford the mortgage repayments on her own without your joint income. This will depend upon the income level of your partner and the amount owing on the mortgage but it may be a middle way that allows you to on the one hand to tell your partner that of course you would be willing to transfer the property to have but relying on the mortgage lender to refuse consent.

Customer: Ok thanks my friend just don't know how to play this I still love her and she still cares very much about me but its the house that is stopping us to sorting this out
Joshua :

You could speak to your lender to see if you can sidestep the issue if they will refuse consent. Typically they will agree 3-4 times income as a loan so if the amount outstanding is more than 3-4 times your partners annual income then they are likely to refuse. If you are able to come off the mortgage though do take time to carefully consider your position in particular how much trust you would be placing in her and your relationship and where you would be left if she then walked out taking the house for herself.

Joshua :

I wish you all the best whatever you decide to do.

Joshua :

Is there anything above I can clarify for you?

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