Posted on: 15th Sep, 2009 03:20 am
I own my house and have a joint mortgage with my fiance. We have been living together for 5 years and he has contibuted to the running of the house, although not contributed to the mortgage. We are extending the house and wish to remortgage paying the mortgage between us. The mortgage was albeit agreed but now the mortage company has said that because the title deeds are in my name only and the mortgage is in both names then there is an indirect charge (A2D charge). This apparently came into effect on 7th August.
Would it be cheaper / easier to change the title deeds in to both our names (We are getting married in April and I would be doing this then) or to obtain independent legal advice to say that I understand that I would be liable to pay the whole mortgage amount should my fiance default or something along those lines.
I am unsure how to go about either and have heard all sorts of horror stories of thousands of pounds having to be paid out.
The house is worth c£140k
Would it be cheaper / easier to change the title deeds in to both our names (We are getting married in April and I would be doing this then) or to obtain independent legal advice to say that I understand that I would be liable to pay the whole mortgage amount should my fiance default or something along those lines.
I am unsure how to go about either and have heard all sorts of horror stories of thousands of pounds having to be paid out.
The house is worth c£140k
thank you for your last sentence. i was having much difficulty in deciphering "A2D" charge, but now i see that you are apparently in the UK. please take whatever responses you get with a grain of salt, because most of the people on this site are in america, and you'll be getting usa advice for the most part.
i don't know how many experts there may be here who are based in the UK; hopefully, you'll get some reasonable advice.
i don't know how many experts there may be here who are based in the UK; hopefully, you'll get some reasonable advice.