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Home Rights Notice & Remortgage

Posted by spartacus 
Home Rights Notice & Remortgage
July 29, 2020 01:39PM
Since Covid19 hit I have been out of work.

I have been trying to remortgage the house, a process which I was lucky enough to start before I lost my job. The remortgage has taken some time but is now set to complete. Then I received a letter from my conveyancing solicitor that they are unable to continue due to there being a Home Rights Notice placed on the property.

What can I do?

At the moment I have moved out of the house, temporarily. My wife and 2 children (17 and 18) still live there. The mortgage is in my sole name; it always has been on account of my wife being older than me and not being able to get a mortgage with her name on it. She doesn't work. I have told my wife that without the remortgage, which puts our house on a lower rate and interest only for now, I am unable to afford the mortgage; I will default, and we will lose the house.

She is adamant that the Home Rights Notice must stay because her solicitor told her. But we will lose our house! And I will be the one with poor credit. How is that fair.

I don't understand how she can stop me from remortgaging the property, and force me into a position of not being able to afford the mortgage, without consequence to her.

Is there anything I can do?
Re: Home Rights Notice & Remortgage
July 29, 2020 02:29PM
>>Is there anything I can do?

No, apart from getting a divorce and settling the financial issues arising from the marriage once for all. For what it is worth your wife did not even need to register a Home Rights Notice to prevent you selling or remortgaging the property. She lives there with the children. Therefore she has an overriding interest in the property which means that any would be purchaser or mortgage lender would advance any money subject to her interest in the property. Your conveyancing lawyer would have had to obtain her written consent to any proposed transaction whether she had registered a Home Rights Notice or not and he/she would have been negligent if this consent had not been sought. The only way in which you can bring her interest to an end is within the context of a divorce. That is not to say that you will then be able to do what you wish with the property because the outcome may well be that she gets to stay in the house with the children.
Re: Home Rights Notice & Remortgage
July 29, 2020 02:33PM
Thank you.

I did receive Occupiers Consent to remortgage the property, signed by my wife.

And yes, I know she still has rights in the property. I am not trying to sell the house, only get a better mortgage deal.

Her solicitor gave her bad advice.

I guess it is time, I have no choice but to engage my own solicitor.
Re: Home Rights Notice & Remortgage
July 30, 2020 10:23AM
>>I did receive Occupiers Consent to remortgage the property, signed by my wife.

That seems inconsistent with your conveyancing solicitor's unwillingness to proceed. Provided that the occupier agrees to postpone their rights to the mortgagee that is usually sufficient for the transaction to proceed.
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