by spirax77  25/04/2019  6 Comments  190 Page Views
Family & de facto law, financial agreements, consent orders
We are in the process drafting consent orders. I supposedly will be paid a lump sum payment and the ex will take sole title of the house and refinance into her own name.

The bank is saying there isn't a need for her to refinance into her own name. They are saying my name can be removed from the title whilst keeping the existing mortgage in place, thus improving the serviceability of the loan and eliminating the need to go through a new loan application.

Is this correct and are there any issues or potential pitfalls with this scenario? It just saves time, saves on extra paperwork and I'm happy to continue helping with the loan repayments.

Would this property transfer also be stamp duty exempt?

Thank youspirax772019-04-25 16:37:05