Splitting income: how much interest can we offset?

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    #16
    Originally posted by Telometer View Post
    Whereas, Jeffrey, presumably they CAN use a trust deed to achieve the same effect without M's consent.
    Yes- Trust Deed (off the Register) plus Restriction on Proprietorship Register.
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).

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      #17
      Thank you, just to tie up the loose ends...

      Hi

      Thank you everyone for helping me figure this all out. Sorry for the delayed reply - lots going on!

      I just wanted to check, ref the deeds, I didn't quite follow the terminology. I have downloaded forms AP1 (Application to Change the Register), TR1 (Transfer of Whole of Registered Titles) and ID1 (To provide ID) from Land Registry - I do find their web site a bit difficult to follow. Would these be the right ones, maybe I just need AP1, or were you suggesting doing things a different way?

      I don't have a problem with informing the mortgage company of the transfer of deeds into both our names if we need to. We have plenty of time to do this before we are contemplating rental.

      Many thanks again!

      Comment


        #18
        You probably cannot transfer at all unless the mortgagee:
        a. consents (if the Mortgage Conditions prohibit unconsented transferring); and
        b. uses its own solicitor- at your expense- to superintend the transaction.
        JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
        1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
        2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
        3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
        4. *- Contact info: click on my name (blue-highlight link).

        Comment


          #19
          Hi Jeffrey

          Thank you. I am getting different definitions for mortgagee, so not sure if you mean the person in whose name the loan is, or the mortgage provider. In this case, it is my husband's name on the mortgage, and we were going to see if we can have me added.

          thanks,
          Lorna.

          Comment


            #20
            Mortgagor= property-owner who mortgages= [usually] borrower.
            Mortgagee = party in whose favour that owner creates a mortgage = lender.
            So, to transfer the property that the mortgagor owns, he/she needs the mortgagee's consent.
            And the mortgagee will insist that a solicitor is used, at the mortgagor's expense, whether you like it or not.
            JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
            1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
            2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
            3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
            4. *- Contact info: click on my name (blue-highlight link).

            Comment


              #21
              OK thank you, we will get in touch with them to see what to do.

              Comment

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