Mortgage Deal or No Deal

With the house being on the market for almost 8 months and Barely Husband having to renew his rental agreement yet again (it’s every 6 months), he came up with the solution of passing the mortgage to my sole name to free up his credit to buy a property.

A one bedroom flat is not the most adequate place to have a teenage daughter over weekends. I understand why he was upset and I wanted to help. The annoying part came when I offered to lend him some money to put as a deposit but then he still wanted to charge me ‘rent’ for his share of the house (discussed here).

He even called the bank himself. A miracle as Mrs Secretary here always had to do everything. According to him, the transfer would be simple. I would just have to call the bank and request it and they would grant it after I showed I could afford it. He would sign it off to me and I would pay him when the house was sold.

If it sounds too easy to be true, it’s because it was. The simple transfer meant a full, new mortgage application, including a two hour advice meeting that annoyed the crap out of me. Every time I sorted a mortgage, I had it done online, without advice because I can do my own research and I have good understanding of the financial requirements.

The bank wanted to do send someone to do a valuation on the house, as if they didn’t already mortgage it. Ugh! I refused to take time off work to let the valuers in and my trusty neighbours, who could let them in, were away for a few days. And there was that nagging feeling that I shouldn’t do it to top it off. I pushed it for a week…

When I was feeling I would have to give in, came an offer on the house. Too low for me to accept but at least it was light at the end of the tunnel. The family who put in the offer asked for a second viewing. They came around and I highlighted the positives. We agreed on a price.

THE HOUSE IS SOLD!!!

We are taking the hit on a little loss (really little) but it’s better than me still putting money in when half goes to BH and his sending money down the drain in more rent. We don’t want to risk it.

Now I’m excited looking at houses for me to buy. YAY! I need to tie it in with the sale of this one. BOO!

For anyone who knows how the UK property selling system, it is pretty shitty, complicated and long. A lot could go wrong. I hope it all goes smoothly and I don’t jinx it!

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8 Comments Add yours

  1. Congratulations, on to new horizons

    Liked by 1 person

    1. DFMGhost says:

      It’s the last step. I am hopeful. 😊

      Like

  2. I so hope that this goes well! Fingers crossed for you! And I agree with you – it would have been a bad idea to take on all the risk and let him off the hook in a refinance. Why shouldn’t be the one to have assumed the mortgage? He’s a dick.

    Liked by 2 people

    1. DFMGhost says:

      He could have, but he doesn’t want to live here. He wants to live an hour away, close to his work. And I would be the one to have to go into rental. Worse for both. If it all goes well, it will be a couple of months only before it’s all sorted. 🀞🏼🀞🏼🀞🏼

      Like

  3. bone&silver says:

    OMG Hallelujah!! Fingers crossed in Oz that it all goes smoothly… that’s SO exciting!! x

    Liked by 1 person

    1. DFMGhost says:

      Hallelujah indeed! I’m viewing a house on Saturday. It’s the most promising one, just a couple of roads down from where I am now. I need this to work! 🀞🏼🀞🏼🀞🏼

      Liked by 1 person

      1. bone&silver says:

        Wishing, wishing, wishing it for you!!!

        Liked by 1 person

      2. DFMGhost says:

        Thank you πŸ’–πŸ’–πŸ’–

        Liked by 1 person

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