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ownership of house vs. names on mortgage

(16 Posts)
LalaDipsey Fri 31-Mar-17 18:11:10

Hi, I just want to check something. I and my exH are divorced and I bought him out of the house. The land registry is in my name. However, his name is still on the mortgage as the mortgage company aren't prepared to put it solely in my name as I am on benefits. So it needs to stay in both of our names until I am earning enough for the mortgage to be in my name only.
I have just been offered a gift from a family member for them to pay to extend the house so that there is enough room for me and the children. It's a wonderful offer - I just wanted to check there was no way exH could have any claim on the additional value this would add to the house? Thanks

MrsBertBibby Fri 31-Mar-17 18:55:27

Did you get a proper court order setting out the arrangements?

LalaDipsey Fri 31-Mar-17 20:47:24

Yes I think so. It was part of the divorce and the financial agreement. Should I double check with my solicitor?

MrsBertBibby Fri 31-Mar-17 21:08:32

God yes! Please do.

LalaDipsey Fri 31-Mar-17 21:21:05

I have confirmation than my ex-husbands interest in the property has been transferred to me and the following phrase from the solicitor:

"You will see from the aforementioned official copy of the register of title that you are now the sole proprietor of the property"

Does that make a difference?

LalaDipsey Fri 31-Mar-17 21:21:22

Thankyou for replying smile

LalaDipsey Sat 01-Apr-17 08:32:19

Oh and we did have a clean break thing put in also

EnormousTiger Sat 01-Apr-17 15:24:04

Usually the lender woudl not agree to take the husband off the deeds. It would be worth your paying £3 and double checking the title registry today on the Land Registry website to see if you really are the sole owner. The mortgage company would be alerted if the name transfer took place and it would be a breach of the mortgage conditions I think so I am surprised if it has gone ahead.

There is still a secured charge over the house for the benefit of the lender so if the mortgage wasn't paid the lender could sell the house to pay it off even if your husband were not on the title.

Do have a look at your clean break order. Mine says I will pay my husband to buy out his share of the house, that the house will go into my names and the mortgage lender consented (I earned enough to support the mortgage - the much bigger one I had to take out to pay off my ex and get a clean break).

pinkpixie83 Sat 01-Apr-17 15:39:35

I had my deeds transferred before my ex was off the mortgage. We did have to get the bank to agree which they did.
In my court order his money in the house is earmarked as % so that will grow as the value of the house grows, and any improvements I do will add to his money which is not ideal but I console myself with his share being small so it's not the end of the world.

LalaDipsey Sat 01-Apr-17 17:32:52

This is what the court order says. I have committed to try and get his name off the mortgage as soon as I reasonably can; but I have received the new land registry documents and it's definitely in my name only now.

LalaDipsey Sat 01-Apr-17 17:35:36

Sorry I don't mean to be rude! Trying to get a quick reply in whilst the kids are eating! I have emailed my solicitor for clarification also. My understanding was that he had no claim on the property now as I bought him out. He is on the mortgage in name only really. The mortgage company haven't raised an issue. The land registry was finalised in November. Thanks for all you help smile

LalaDipsey Sun 02-Apr-17 18:53:43

Bump. blush

MrsBertBibby Sun 02-Apr-17 19:30:14

It sounds as if it will be fine, but no one can tell you that without reading the whole order.

Just double check with your solicitor, to be on the safe side.

EnormousTiger Sun 02-Apr-17 19:34:13

So if he is off the deeds he does not own the property so any increase in its value is for your benefit. If however you sell it and run off abroad he along with you is still jointly liable on the mortgage.

LalaDipsey Sun 02-Apr-17 20:18:31

Thankyou. Desperately hoping I would be fine but needed (in the absence of my solicitor!) the powers and wonderful people of MN to tell me so! Thanks very much I really appreciate you answering smile

Collaborate Sun 02-Apr-17 22:47:10

You might find after the extension is done that with the property increasing in value you are eligible for more mortgage products as the LTV ratio decreases. Worth speaking to your mortgage advisor about if it was a finely balanced decision last time.

I agree with the others who have said to go ahead.

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