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Advice on mortgage please

(3 Posts)
ColdMeatPlatter Sat 22-Aug-15 12:36:19

Hi, I wonder could anyone give me some advice I will he seeking legal advice after the weekend.
So around 5 years ago now we finally got planning permission to build our home. My DF owns a farm and the plot of land was on this. The solicitors drew up a change of deeds, and the title deeds for the plot of land were put in both mine and DH names.

We applied for the self build mortgage in my name only. DH was only starting his new business and so didnt have enough years of tax returns plus a poor credit rating and we were able to get enough on my salary alone. All done through our solicitor and bank. I signed everything i was asked to sign, mortgage was released in installments and we moved in early 2013.

As the fixed rate on our mortgage came to an end I applied to the same lender for a new fixed rate mortgage. All had been going well until their solicitor received the title deeds again. They have now said that DH needs to come off the title deeds if they are to proceed with the mortgage in my name only. Or we can reapply for a new mortgage in both our names.

I queried why this was with them, when they were very happy to allow us/me the previous mortgage with the same deeds. She was quite evasive and said that an error had been made, and blamed our solicitor. I queried why it was the socialitors error, surely someone at the lenders side approved the release of the funds on the title deeds. She then went onto say that basically only half the house is mortgaged (my half). This is how I understood it and I don't understand how this could have happened as half the value of the house is even less than the full amount borrowed.

I feel someone has made a huge booboo somewhere. I got quite upset on the phone to my shame (I'm having a mc as we speak. )She says we can leave the existing mortgage as it is (variable rate) but will.need to do one of the above for new mortgage.

My question is what legal.implications are there at present if the mortgage is only on half our house? Are there any? For example if I were to default (which I'm not) could they take our house if technically only half of it is mortgaged?

I hope this makes sense I'm. not very good with mortgages and deeds and the like which is why I normally ask someone else to handle it!

Collaborate Sat 22-Aug-15 23:28:25

They can't be bothered to do it properly can they?
You can still take out the mortgage in your name but both of you grant security in the form of a legal charge on the property . It's not a legal problem. They just don't want to do it.

ColdMeatPlatter Sun 23-Aug-15 14:20:23

Thank you collaborate thanks thanks

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