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Joint Mortgage question

  • 28-09-2011 3:56pm
    #1
    Shelflife
    Registered Users, Registered Users 2 Posts: 3,077 ✭✭✭


    Hypothethical question.

    My brother and I buy a house in bith our names, get a mortgage in both our names and both live in the house.

    my brother then moves out and says work away you pay the mortgage i want nothing to do with the house any more (all amicable).

    can i remove his name from the mortgage and the deeds and is it a serious red tape job?

    will he have to give his consent to do both?


Comments

  • #2
    Delancey
    Closed Accounts Posts: 5,451 ✭✭✭Delancey


    Not only will it require his written consent but crucially it will require the consent of the lending institution - that may prove very difficult , by removing his name the bank cannot pursue him for monies owed.


  • #3
    Shelflife
    Registered Users, Registered Users 2 Posts: 3,077 ✭✭✭Shelflife


    Thanks Delancey, no problem with the brotherly consent but as you point out the bank are basically doubling their exposure.

    cant see that happening in this climate.


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