I would like to remove my name from a mortgage, which is owned by me and two sisters. I left home after years of mental and physical abuse and no one from the family is aware of my whereabouts. This is the only thing they have to keep any kind of hold over me. I recently spoke to a solicitor whom agreed to send a letter asking them to remove my name from the mortgage, the contents of this letter stated I would be happy to sign away any rights on the property as long as my name was removed from the mortgage, they ignored the letter. The solicitors have said this could be a costly process. I just wanted to know what the process is and how I could go about getting my name removed from the mortgage? Any advice/assistance would be appreciated.
It is highly unlikely that a mortgage company will just remove your name - the remaining parties would have to show they can afford the mortgage without you. Stamp duty may also be payable depending on the value of your share. Forcing a sale may be another option for you.