removal of name from mortgage deeds

[sallysmith]

I am separating from my husband and intend to buy a property of ny own. But to do this I need to remove my name from the deeds of the house we jointly own. However, I will still be paying the mortgage on the jointly owned house. Is this possible? and what do I have to do?

Thanks

[Loosehead]

It's possible but your new lender will take account of the mortgage you already have in their calculations of how much they will lend, unless you earn a lot then this will proof prohibitive. The only way is to get the lender of you current house to agree to put the mortgage in the name of your husband only, then draw up a private agreement that you will pay half. However the lender for the current house is quite likely to object to this scenario. It's not going to be easy.

[lady_p_gold]

It seems a strange scenario, how come you will be paying the mortgage on a property that you no longer have an interest in ? Can't he buy you out, that would be an easier way of doing it.

[Mrs_Pegasus]

I agree with Loosehead. You will show up on credit and land registry checks. If you still have an interest in the other house then you should under no circumstances take your name off the deeds. E.g. your ex could borrow against the house and you would never know.

The mortgage will definitely impact on your borrowing potential.