how much does it cost to tranfer mortgage/property from joint to single names after separation? is there a captial gains issue over the "buy out" even if no actual money transferred in reality?
is it just case of solicitor fees to traansfer property in land registry to one name only?
there are actually two properties in both names - one is rented out and rent just covers mortgage.
the other ex lives in as i moved out to rent another flat with kids. no way could i liove next door to him!
probably i would have the rented property transferred to my name only and continue to rent it out while i rent nicer place...he can have the one he living in as his. they are two flats adjoining - same size etc. but "his" is worth a bit more as has a lease extension. so i would want him to "pay" me extra to take on that one....if only a paper payment.
he is paying the mortgage on the one he living in but on paper he would not get the same mortgage because his salary is low - it was based on mine.
but if he been paying it last few months will mortgage company accept that he can take responsibility for it if is transferred to his name only? even tho it is more than 4 or 5 times his salary?