Joint mortgage

[Theodor10001]

I currently have a joint mortgage and joint unsecured loan which are both in my name and my ex partner's. He has moved out of the house almost a year ago now and i have been paying both the mortgage and unsecured loan repayments on my own.
I need to get his name off both the mortgage and loan as soon as possible as he is filing for bankruptcy and I am afraid of losing my home.
He wants me to keep the house and is happy to sign it over to me.
What can I do?

[Stu Dent]

You need to buy his share of the house off him/he needs to sell his share of the house to you. But you need the price to be at or at least near "market value" - otherwise his creditors may try to void the sale if it was done to prevent other creditors getting their fair share of what they are owed. He can't just 'sign it over to you' - his creditors will have an interest in the property.

If a legitimate sale is concluded then you have sole ownership of the house - though probably secured after remortgaging. The money your partner got from you will go towards paying off his debts.

If the security on the house remains as it is, you could find yourself with a half-ownership of an almost unsellable asset.

See a solicitor to arrange the necessary registration and property transfer arrangements.