Property transfer/mortgage - mechanics

[FallenFigs]

I have quite a niche question, hoping for some views/advice on risks and practicalities.

exH and I own two properties under one mortgage. One is former marital home, the other is a property bought for him to move out into. ExH is on mortgage, I am not. I pay half.

Divorce process and agreement means I retain former marital home, he retains property two. The Consent Order defines this as a transfer (permissible as it’s as the result of a divorce).

I need a mortgage to cover an element of the transfer. Brokers and conveyancers are defining this as a sale and purchase. This isn’t strictly correct, but they don’t appear to have another option for ‘transfer when one party isn’t on the mortgage’.

exH has suggested that I get added to (his) mortgage and then it is simply transferred that way I.e. he removes himself from the mortgage.

on one hand, this makes sense. No conveyancing (I was involved in the purchase) etc. so reduces both timescales and costs.

But, what are the risks? ExH is not a person I trust, and he takes risks financially. So, I need to fully understand pros and cons.

obviously broker and conveyancers aren’t interested in advising on this as it’s outside their remit. And not sure who else could give me a clear picture of the pros and cons.

any insight or experience welcome!

Which property is the mortgage secured against?
The FMH or the new property?
The particulars at the land registry will tell you this.
I ask as residential mortgages are secured on one property only.
You can't be added to your ExDH mortgage as you will need to be credit checked etc and then you on on the hook. He won't be able to remove himself easily either

You need conveyancing for transfer of ownership even if there isn’t a financial transaction involved.

You also need the permission of the current mortgage provider for transfer of ownership - this will add some time to the proceedings.

I’m going through similar - husband is buying me out of the family home (no mortgage on that) and we have a conveyancer to transfer the ownership and he is raising a mortgage to buy me out. This will ‘complete’ in the same way as a normal purchase so ownership change and fund transfer at the same time.

We have a second BTL property he is keeping and there is no financial exchange, but need permission from mortgage provider and conveyancing for transfer into his sole name.

I’ve gone with a fixed fee service which js about £675 per property all in.