Mortgage

[Angelnurse]

I need to take my name off a mortgage that I share with my ex partner. Can anyone tell me how to start proceedings and how much it's likely to cost? Thank you

[ummmm]

You'll need to speak to your mortgage provider. They won't let you do it unless your ex partner can prove they can afford the mortgage on their own.

You other option is to sell.

[ToraToraTora]

You are looking at £300-£500 in total to adjust the land registry entry and get the lender to remove you from liability but as ummmm says it depends on whether the lender will agree to having one less debtor liable for the balance and that depends on whether your ex can satisfy their lending rules on his own. The first thing to do is to get your ex to apply for the mortgage in his own name with the current lender or another lender if the mortgage is to be redemeemd.

[Angelnurse]

Thank you both, I will speak with my ex. Any ideas on how long this process takes? I don't foresee any problems with him being able to take the mortgage on by himself as he has a good income so if this is the case how long is it likely to take? I'm looking to buy somewhere myself and obviously can't do this whilst my name is on another mortgage. Thank you

[boxtops]

It's years since I had to do this, but a few weeks, as I recall.

[ummmm]

If you haven't defaulted on the mortgage in the past then it should be quite quick. 2 - 4 weeks...