Possible solution to removing party (name) from mortgage [UK]
Back in 2007 my wife and her partner (at that time she was in partnership with Mr. P) bought a house in UK. They bought this house together, so he is still shown on any correspondence from lender (NRAM).
In 2013 Mr. P left the country (UK) without sorting things out. Later me and this lady came together and eventually got married. Now, due to some circumstances we would like to remortgage the house, and (later) sell it and move to the other place. But having Mr. P in the mortgage makes things complicated.
Some additional information:
- I am in good (financial) position to take place of Mr. P in the mortgage
- We have some contact with Mr. P, anyway communication is extremely slow and unreliable (he comes back with long delays, like weeks)
- He definitely doesn't want to come to UK, even for short visit with us paying for his trip and accommodation
- He lives in Germany now
- He stopped to pay his mortgage part when he left (I don't think he paid ever from his account, it was more of that he transferred money to my wife's account, then she added her part of money and paid it to lender)
We have contacted the lender, they said Mr.P has to call them and ask for change of parties papers to fill out, anyway Mr.P said that when he called NRAM he couldn't understand them (his language skill isn't good). From the good side, he said he is happy to leave the mortgage and he doesn't want any money.
How to remove Mr. P from the mortgage?
If we organise the papers for Mr.P to sign, shall he sign in presence of 'notified body' (like solicitor/lawyer/some sort of officer)?
Shall we try to sort things out with the help of court (this could be faster), considering he is not paying for 6 years?
(1)1 Comments
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Consider taking out a completely new mortgage, in the name of yourself and your wife. Use that to pay off the old mortgage. Then it doesn't matter who was named on the old mortgage.
But you do need to work out who owns the house at the moment. That will be recorded at the Land Registry. If Mr P has a share in the house, then things may be difficult.
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