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Thread: Name still on the Mortgage!

  1. #1
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    Default Name still on the Mortgage!

    Help

    My partner soon to be wife previously owned a property on Costa Blanca with her ex.
    Over 12 months ago the bank who the mortgage is with organised for her to will over her half of the house and promised to take her name off the mortgage . This was arranged so a couple could take over the payments for her half of the mortgage and own half of the house. They have kept up with payments so far!
    However, after speaking to the bank it appears my partners name is still on the mortgage and the new finance deal has not yet been arranged.
    The bank has promised this will be sorted out over the next few weeks......but where do we stand if this is not organised and the ex and couple default? Can I pursue a claim against the bank for wrongful advice? We have written confirmation of this arangement.
    Thanks,

  2. #2
    Senior Member
    Join Date
    Oct 2008
    Location
    Marbella
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    1,095

    Default

    Dear Sir,

    If the couple default your soon to be wife would be held personally liable with all her assets both now and in the future.

    If the bank agreed to remove her from the Mortgage deed then it's their responsibility to do so. I would need to examine thet written agreement with the lender.

  3. #3
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    Default

    it was all agreed at notary, will this make a difference?

  4. #4
    Senior Member
    Join Date
    Oct 2008
    Location
    Marbella
    Posts
    1,095

    Default

    Dear Sir,

    It has to be signed before a Notary, so it makes no difference.

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