# Signing over a mortgage to someone else



## Craig660 (Dec 8, 2005)

Could anyone help me out here,

I have a mortgage with my ex gf,

I have gave her my share a couple years back and so its all hers,

But on paper i stil own half.

I want to sign my side over to her as i want to buy my own place and also its seriously ****ing my credit up as she keeps missing payments etc.

Only problem is she doesnt earn that much and the mortgage was based mainly on my salary i think.

Can i still sign it over or am i stuck with it in my name ?

The porperty is rented out now and isnt on a fixed mortage

Thanks


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## Will101 (Apr 14, 2009)

Yeah, I would get yourself off this ASAP as if you are still liable for the mortgage payments and she screws up, they will come after you.

I'm not an expert but I think she would basically need to apply for a new mortgage. Even if she took over the existing mortgage on her own, most lenders will still treat this as a new mortgage in terms of the searches etc.

The mortgage lender will want the mortgage settled before you go anywhere so I doubt it will be as simple as just signing it over to her.

I would go see a solicitor mate.


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## snakebulge (Jul 28, 2010)

Hi Craig,

I'm in a similair situation to you but the other way round mate and it stinks!

I had a mortgage with my ex-gf and left her after having the house for 6 weeks - why etc is a long and boring story so not going into that but.........

I left, eventually got her out after a year and paid her off, although the house was in neg eq. I managed to rent the place out and the guys in there have it on a long term rental agreement with a view to buy as they really like the area and in particular this house.

I have been trying for 3 years now to get her name off the mortgage as she signed legal papers when she moved out and had her 'cut' so to speak to say she had no interest, financially or beneficially in the property. She refuses to sign to take her name off the mortgage and am currently going through solicitors to see what they can do. I already have a £500 bill with them and am no further forward than i was when this started 3 years ago.

I take the rent, pay the mortgage, pay out for the insurance and repairs to the property with no financial involvement from her. When i first left, i paid the mortgage and bills for 12 months whilst she sat pretty in the property as she had no income just to stop it from being re-possessed - this is now a regret as if it had been repossessed i would nearly be in a position now to start all over again.

Am inetersted to find out what info/advice you get so will be following this. Just wanted to let you know that you're not the only one in this sort of position.


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## Rosko (Oct 15, 2007)

I think you need to do what is called a "declaration of trust", i think!!

I've been looking into this sort of thing coz me and my gf are looking to buy the place her and her grandad rent. If he doesn't go on the mortgage we'd have to get a buy to let mortgage, so we get his name on the mortgage, then after the house is bought, he signs his bit over to us.

As said above, go see a solicitor, there is so much more to these things than we reallised, you can really come unstuck if your not careful mate.

Better to pay a few quid for solicitors advice than be lumbered with a mortgage that aint being paid!!


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## whackedout (Sep 10, 2009)

This is more difficult now as she has been missing payments. Equity transfers are normally pretty straight forward providing that the lender is confident the individual taking over the mortgage is capable of paying back the debt. In this case it looks like she isn't. If you / she is renting out the property the lender will probably have to change the type of mortgage anyway or provide consent to let, either way this can affect the rates.

If I was you, put the house on the market or get the equity transfered to you and not her.

Good luck


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## Craig660 (Dec 8, 2005)

I know mate its such a **** situation. I just want to wash my hands of it and move on from her and the house and get on with my life.

I think its hard to get another property when you already have one isnt it ?

Esp when its making your credit rating look bad


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## Will101 (Apr 14, 2009)

snakebulge said:


> Hi Craig,
> 
> I'm in a similair situation to you but the other way round mate and it stinks!
> 
> ...


She is brave. On a mortgage with 2 people you usually have something called "joint and severable liability" which basically means both people on the mortgage are resposible for 100% of the mortgage value. So, if you just decided to stop paying, she would still be responsible for 100% of the payments!!


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## Craig660 (Dec 8, 2005)

I dont think she has had missed many payments in the last year but had missed a few before that.

Cant sell the house as its in neg equ and she wants to hold onto it,

So the only way if for me to work out a way of signing it over some how.

How much roughly are we looking at for a solictor ?

Im quiet sure she wouldnt purposly stitch me up with the mortgage


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## whackedout (Sep 10, 2009)

I think that is the problem mate, if one party says "so fvcking what, I am not paying" then the other individual either accepts they have to pay to keep their credit rating in tact. If you have nothing then you are more inclined to take that risk.


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## whackedout (Sep 10, 2009)

I am pretty certain the solicitor's fees are similar to that if she was buying. It is an equity transfer but in negative equity chances are the lender won't agree it.


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## snakebulge (Jul 28, 2010)

Craig660 said:


> I know mate its such a **** situation. I just want to wash my hands of it and move on from her and the house and get on with my life.
> 
> I think its hard to get another property when you already have one isnt it ?
> 
> Esp when its making your credit rating look bad


That's the main problem mate - you can't move on until it's sorted and it ain't a quick process unfortunately.



Will101 said:


> She is brave. On a mortgage with 2 people you usually have something called "joint and severable liability" which basically means both people on the mortgage are resposible for 100% of the mortgage value. So, if you just decided to stop paying, she would still be responsible for 100% of the payments!!


Yeah, you got that right Will. She is would be jointly liable if i just stopped paying the mortgage but she also knows i have more about me than that. I've spent thousands on the property to stop it getting re-poed so i'm not gonna be going down that road - ever - and she knows this which is why she's playing me. She thinks that when the house is sold she would be entitled to more money if there is any equity in it and there are 2 arguments to this. 1 being she is jointly liable still but the other, the legal documents she signed previously.

I have been to several solicitors on this matter but don't seem to be any further forward as stated than 3 years ago...........any help/advice is great!

@Craig, sorry to hijack mate.


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## Craig660 (Dec 8, 2005)

Oh dear,

I knew i shouldnt have bought this, its just caused nothing but problems and now im stuck with it.

Was hoping to buy my own place at the end of next year as well


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## Double J (Nov 1, 2009)

I think it will also depend to some extent on the lender; I went through this a few months ago and had 2 BTL properties with Birmingham Midshires and they were a pleasure to deal with and the process was sorted out quickly. The other property was with the Yorkshire and they were, quite simply, c.unts who in the end refused to accept my mortgage application (I had to apply sole) despite a very solid credit record, high-ish salary and a tenancy agreement in place to cover the mortgage (had moved out and let it).

I would phone the lender and ask someone to explain what you need to do in relation to your situation and go from there bud, hope you're not with the Yorshire though - tw4ts :cursing:


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## billyrae (Jun 5, 2011)

My sister just found out about her hubbs infidelity. HE walked out and left her with two young children. He stopped paying the mortgage three months ago. He said he does not want the house or any money later from any potential sale. Mortgage people now on her back, I suggested she get him off the deeds and ask for him to be released from the mortgage. Does anyone know if my sister would have to be working full time moreso, what if I moved in with her and the kids to help pay mortgage. does anyone know if this is legal, just as long as the mortgage being paid


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