Remortgaging from Joint to Sole borrower

[rhysduck]

Basically the Mrs & I have parted ways and have remained civil thankfully.
I want to keep the house and have a mortgage in principal from Natwest significantly cheaper than the current mortgage.

I'm remorgaging the house to pay the ex her share. Natwest will cover all fees apart from the fee to remove the ex's name from the current motgage (that's how I understand it)

Does anyone know how I go about this please? Is it just a case of applying for it to my current lender? Before I go to solicitor and pay for them to push paper about I'm hoping some on here may know.

I have the Land Registry documents printed ready but don't think this is enough?

Thanks.

 

[valve90210]

when you're going through the process of the new mortgage you'll need a thing called a deed of transfer, which will go to your ex and documents the change of ownership, any financial settlements (ie buying your ex out). This will be in addition to the land registry change of ownership form. She'll need to sign it and get it back to your solictors.

If it's anything like when I did the same before Christmas last year, it won't be the same mortgage with you taking over and her removed, it's a completely new mortgage in your name and the deed of transfer and land registry form take care of who owns the property and who is liable for it etc.

 

[Skiddley]

What he said. I have done this. Think it was referred to as a 'Transfer of Ownership' in my case. You'll also both need a different solicitor, fees were in the ~£600 range for me + any mortgage fees.

 

[Vipa66]

You will receive a legal pack from the conveyancing company NatWest are using in this instance.. In there you will find a price list for additional tasks required, one of which will be a change in title (usually £250.)

Within the legal questionnaire you need to fill out, one of the questions will be, 'is there to be any change in title?' or words to that effect.. complete that section and send it back.. the law firm will bill you separately for the work.

Any problems just ask.

Paul

 

[Atom]

Transfer of ownership when I did this a few years ago. New mortgage provider only really wanted it in writing from the other party that they had no interest in the property and agreed to everything.

 

[Vipa66]

Transfer of ownership when I did this a few years ago. New mortgage provider only really wanted it in writing from the other party that they had no interest in the property and agreed to everything.

There has to be a transfer of title registered at the land registry... this is why it is part of the conveyancing procedure.