Getting the consent of the mortgagee
If you are going to change the shares in which you hold the home, or transfer the home into one person’s name, you will have to get the consent of the mortgagee (the bank or building society).
Although you can have a court order for the transfer of a property which is subject to a mortgage, the court has no power to order the bank or building society to agree. Without their consent the transfer can’t go ahead so it is important that you have explored the idea with the mortgagee before you either agree a settlement or go to court.
If the mortgagee will not agree, the solution may be a remortgage. Hylton-Potts can put you in touch with the most experienced shrewd and respected mortgage brokers in the UK.
Consult the experts. For more information or a free legal opinion telephone 020-7381-8111 (24 hour service) or email law@rhplaw.co.uk.
