I am the Guarantor for my ex-wife's mortgage with Britannia Building Society. I have my own house and mortgage and need to be removed from obligation with Britannia. How do I make my ex-wife complete Transfer of Ownership Forms and send to BBS to remove me. I am in Court on 30/11/00 and need advice urgently.

-- Trevor Jones (, November 25, 2000


If your ex-wife's mortgage in arrears or about to be repossessed? If so, then it is unlikely that the BS will release you from guarantor status. If not, and your wife is unwilling to complete transfer of ownership forms then see a solicitor straight away.

-- pendle (, November 25, 2000.

My understanding is that you can't be removed; once you agree to act as guarantor you agree to all the liabilities that go with it. Even if your ex-wife agreed to sign the forms, the Building Society will not agree to the transfer if there is a potential for default. As you are in court I guess you are already facing that problem. Your own home can be listed as a distrainable asset, to the extent you own it and have some equity in it against which the BBS can claim. If you own it jointly with a new partner I am not so sure of the position. The court may be seen to be derelict in it's duty of care, however,if it forced a sale of your home to satisfy the BBS, particularly if there are children in it. It may just register a lien, which is not good news for you or your credit. Sorry to sound so gloomy and I truly hope that the outcome is much better than this.

-- Too scared to say (, November 25, 2000.

How did you end up in this situation post-divorce? Didn't the solicitor who took care of your divorce advise you on this?

Good luck.

-- Eleanor Scott (, November 26, 2000.

The sad thing is, that when couple's divorce, if the party who is keeping the house isn't eligible for a mortgage in their own right, then the mortgage lender will sometimes refuse to transfer the property into one name only, or if they do then the other still has to guarantee payments will be made. That means that when the parties divorce, they are still tied together because of the house and this usually leads to friction because the party who leaves the house will in some cases still have to pay towards the mortgage and in other cases, has problems getting a mortgage of their own because of the commitment to the other house. And of course, if the one who remains in the house ends up being repossessed, then both of them are liable.

You really must see a solicitor.

-- pendle (, November 26, 2000.

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