names on mortgage

vertico

hi all, gotta call from my soliciter telling me that the deeds are in both mine and my partners names and the mortage is just in my name only, and have to sort it out by either get my partners name on the mortage or getting it off the house deeds, what does this mean??

ferga_com

If the mortgage is in your name only but the deeds are in the names of you and your partner, this is a big issue for the bank. If you default on your mortgage and they try to repossess, your partner could object as s/he evidently didn't sign up to the mortgage so the bank has no right to chuck him/her out of his/her home.

Is this the same solicitor that did the legal work when you got this mortgage? If so, a mistake was made. Ask the solicitor how s/he proposes to sort out this mistake. Under no circumstances should you pay a cent to get this sorted out, as it looks like the solicitor made the mistake.

vertico

ferga_com wrote: »

If the mortgage is in your name only but the deeds are in the names of you and your partner, this is a big issue for the bank. If you default on your mortgage and they try to repossess, your partner could object as s/he evidently didn't sign up to the mortgage so the bank has no right to chuck him/her out of his/her home.

Is this the same solicitor that did the legal work when you got this mortgage? If so, a mistake was made. Ask the solicitor how s/he proposes to sort out this mistake. Under no circumstances should you pay a cent to get this sorted out, as it looks like the solicitor made the mistake.

yea its the same soliciter, and i,m really struggling to keep up repayments, but the bank must have seen the paper work when signing the forms, what would happen if i stopped paying??

noworries

This could be solved by your fiancee going as Guarantor for you - in the
event of you defaulting the financial instiution would have recourse to him.

This is what I did with my partner many many moons ago.

vertico

we are together for 19 years with 3 kids,, we dont wanna lose our house but cant see how we can keep up repayments, if we cant whats gonna happen ,will the house be repossesed?

noworries

Why did your solicitor ring you about a mortgage issue? or am I getting the
wrong end of the stick here.

Also, just being helpful like, it is better to start a thread if your post has
nothing to do with the original posting.

vertico

i started a new thread "mortgage ins and outs" i,m new to boards and learning how to use it.
either the soliciter or the bank made the mistake he told me that the bank keep writing to him to try and get it sorted

noworries

vertico wrote: »

i started a new thread "mortgage ins and outs" i,m new to boards and learning how to use it.
either the soliciter or the bank made the mistake he told me that the bank keep writing to him to try and get it sorted

No problem - just lettin' you know... When you are in your forum of choice
their is a New Thread button close to the top left of the page.

Sounds like the bank are reviewing their security and have noticed a boo boo
with the documentation or more likely the solicitor has screwed up and
did not complete his undertakings. It will cost to have the deeds changed and
I can't imagine that the bank will just add his name to a mortgage as this would be an entirely new mortgage.

Sticky legal wicket - for the bank. I am not a solicitor but if you stop paying the bank could get a judgment against you but could not seize the house. I will bow out here as anything more I say would be conjecture and
as I said I am not a solicitor.

vertico

ok thanks noworries, yea its looks like a big boo boo on someones behalf

noworries

./... it is their worry and not yours.... don;t be forced into anything and your solicitor should be acting on your behalf, remember that in your dealings