Transfer of equity from ex with IVA

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Holly.cm

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Post by Holly.cm » Thu Sep 18, 2014 11:35 am
My ex and I split 9 years ago and have a joint mortgage still, even though he has never contributed towards the mortgage and I have paid the mortgage from my sole account.
Since then he has accumulated an IVA and he only has a year to go. My question is can he be taken off the mortgage if he has an IVA. There is no charge against the house on the land registry. The Building Society has agreed to lend me the money and I want to see a solicitor next to do a tfr of equity, but I really cant afford to pay loads of money to a solicitor for them to tell me I'm unable to take him off the mortgage due to the IVA.
He also believes that he is exempt from re-mortgaging in the final year as he no longer lives there and I live in the house with my 2 children.
 
 

Adam Davies

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Post by Adam Davies » Thu Sep 18, 2014 11:46 am
Hi

Check to see if there is a RX1 restriction placed by your ex partners IP at the Land Registry. If there is not then you should be able to remortgage with no problems

Regards
Andam Davies
 
 

Foggy

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Post by Foggy » Thu Sep 18, 2014 11:46 am
If he is "exempt" the property will be excluded in his proposal. Best to have a word with his IP to make sure.

If that is the case and the IVA has no interest in the property there should be no problem.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Holly.cm

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Post by Holly.cm » Thu Sep 18, 2014 12:29 pm
Hi Andy,

Thank you for your prompt reply
Is there a website link I could log into to see if my property has a RX1 against it. I have printed off the Title Register on the property and there is no mention of a RX1 in section C. Is this enough information to proceed with seeing a conveyance?
Thanks
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