costs to remove name from mortgage deed

[mijas 110]

my partner recently left the property after just 3 weeks, she wants nothing from the house and has agreed to the removal of her name from the deeds what is the proceedure and costs involved ?

[acorn]

Its called transfer of equity and needs to be done through a solicitor.You will need to firstly check with your mortgage lenders to see if they agree in principle to you taking over the mortgage. They will check your finances etc and then give you a yes or no in writing. Then you need a conveyancing solicitor to do the work for you. The cost can range from around 400 for the complete job to almost 900 depending on your circumstances. I have just come out of the tail end of this as ive taken over my mortgage when my husband walked out. You partner will also need a solicitor (again around 300/400 cost) as they will need legal advice regarding whether they realise they stand to lose their rights to the house. Your solicitor will virtually insist on your other half getting themselves a solicitor even if you all agree they dont want anything from the house. The process takes around 12 weeks if all smooth but mine is already into 5 months so be warned! Another thing to consider is whether your partner has any debts. I have found out too late that i needed to protect myself in case my other half went bancrupt. If she gives up the house its deemed she has 'gifted' it to you and up to 5 years down the line claims can be made against the house (ie you will be liable for her debt). But if she isnt declared bancrupt then you can take out a consent order now (solicitor can advise) which means who she owes money to cant come back and claim against house.But this order does not cover bancrupcy - nothing does! A conveyancing solicitor may not offer the service of a consent order so ask when you check prices and if they dont and you are concerned about debt from an ex then ask for advice from another solicitor as well.

[DIYTESS]

LOOK AT OTHER FORUMS, WHAT ACORN TELLS YOU ISN'T CORRECT. YOU FILL IN THE FOLLOWING FORMS FROM THE LAND REGISTRY SITE AND YOUR ID NEEDS TO BE CERTIFIED :

AP1
TR1
ID1

THERE MAY BE A MINIMAL COST FOR THAT EFFORT BUT NOWHERE NEAR WHAT YOU WERE TOLD.