Removing my name from Mortgage - Wifes Asset Only - I continue to Pay. Advice Please

[jollyrodger]

Hi Folks My wife and I have a joint mortgage.Barclays UK – repayment.She is a stay at home mum and very good at this :-)I pay the mortgage.

 

 

Happily married.

/p>I may have a situation where someone may try and secure the house for a debt; (secured creditor) Can I in any way prior to this–

 

 

 

1. The house is transferred to my wife so I have no claim to this.

2. So I have no legal claim to the house and so that I have no sellable assets.

3. To stop possible dodgy creditors taking my house.

4. I continue to pay the mortgage.

Appreciate any advice?

Thanks Jollyrodger

[citizenB]

I don't think there is.

 

If anyone was looking to secure a debt by way of a charging order, they would only be able to place a restriction (which is of no value at all IMHO) on your share of any equity. Unless of course the debt looking to be secured is in joint names.

[jollyrodger]

No the debt would potentially be against myself.Wife has no participation.The bank did say the equitry or mortage can be transfered as long as thge wife can proove she can afford it.But she is a stay at home mum and I was merely trying to potect any equity that someon may come after (rightly or wronghly)

[Old Cogger]

A Restriction only if a joint ownership, look up Restrictions (Charging Orders) land registry site