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Mortgage query

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  • 11-12-2013 2:34pm
    #1
    Marchbride
    Registered Users Posts: 188 ✭✭


    Hello
    Just wondering does anyone know how this affects an application for mortgage?
    My dh bought a duplex approx 12 year ago with a friend. Unfortunately they didn't get along at all so my other half moved out less than a year later. He signed everything over straight away and has no connection to the property since approx 10 yrs.
    does this affect our application?
    Thanks for advice in advance :)


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    #2
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    Marchbride wrote: »
    Hello
    Just wondering does anyone know how this affects an application for mortgage?
    My dh bought a duplex approx 12 year ago with a friend. Unfortunately they didn't get along at all so my other half moved out less than a year later. He signed everything over straight away and has no connection to the property since approx 10 yrs.
    does this affect our application?
    Thanks for advice in advance :)

    What do you mean he signed everything over? If he wanted off the mortgage effectively the other party would have had to get a whole new mortgage and his name would then be taken off the deeds. Was it done like this? If not and he is still on the mortgage agreement then it wont help matter for your mortgage application


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    #3
    Marchbride
    Registered Users Posts: 188 ✭✭Marchbride


    chris85 wrote: »
    What do you mean he signed everything over? If he wanted off the mortgage effectively the other party would have had to get a whole new mortgage and his name would then be taken off the deeds. Was it done like this? If not and he is still on the mortgage agreement then it wont help matter for your mortgage application
    Hi chris
    Thank you for replying
    Yes you're correct he went in to the bank with his friend and had his name removed from the mortgage and deeds signed over. It was approx ten yr ago. Does it show up on some register that he had a mortgage for few months back then or how does it work? So sorry for Qs, I haven't a clue about any of this!!


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    #4
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    Marchbride wrote: »
    Hi chris
    Thank you for replying
    Yes you're correct he went in to the bank with his friend and had his name removed from the mortgage and deeds signed over. It was approx ten yr ago. Does it show up on some register that he had a mortgage for few months back then or how does it work? So sorry for Qs, I haven't a clue about any of this!!

    Ok I guess the friend got a new mortgage to take over the one they had together then. If so then wouldn's show up on any records available except the bank the original mortgage with may still have a record of it.


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    #5
    3DataModem
    Registered Users Posts: 3,997 ✭✭✭3DataModem


    Marchbride wrote: »
    Hi chris
    Thank you for replying
    Yes you're correct he went in to the bank with his friend and had his name removed from the mortgage and deeds signed over. It was approx ten yr ago. Does it show up on some register that he had a mortgage for few months back then or how does it work? So sorry for Qs, I haven't a clue about any of this!!

    This will help - not hinder - the application, as long as no payments were missed.


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    #6
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    3DataModem wrote: »
    This will help - not hinder - the application, as long as no payments were missed.

    it wont, no record on ICB anymore of payment so bank will not be concerned about it but wont care about how it was serviced.


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