Affordable housing remortgaging deed of postponement

[blackfire]

Hi, I have been trying to get the house I bought my ex husband in 2009 under my name since our divorce. It’s a house we purchased through the affordable housing scheme, The only way to do this is to get a new mortgage on my sole name, as the bank won’t release him. My mortgage is currently with EBS and we are dealing with cork county council.
With the housing bill 2021, the county council can waive the clawback. I have got this exemption, however the council is adamant the bank should sign a deed of postponement (which basically confirm that the council will come 2nd charge in the event I don’t repay the mortgage and the house is repossessed by the bank. The bank will get first charge. All this has already been agreed between the two parties); but the bank is refusing to sign the deed of postponement. This is the only document pending to close the transaction.
i’m just wondering if someone has been in the same situation as me and how did you get this resolved. I actually have no more ideas at this stage. I have been in the house 15 years, always paid the mortgage. This is really frustrating.

 

[jellyb]

Hi. I’m sorry I can’t help with you with this as I’m in a similar situation,I’m aware this post is a few months old so may not be seen. I’m having great difficulty getting a response from Kildare coco to provide the approval for re mortgage and waiver for bank, it’s been 2 years since I first contacted them. Would you have any update to share please? Did you end up getting your re mortgage resolved?

Thank you

 

[blackfire]

Hi @jellyb, sorry for the delay didn’t see your post.
So no it is still not sorted, unfortunately, and we are reaching 2 years and 1/2 at it now!!
4 months ago EBS finally agreed to sign the deed of postponement. So my solicitor withdraw the money from the bank as the mortgage approval was due to expire a few days later. When my solicitor asked Cork County Council to sign all documents to finalise it, they then came back saying that the land of registry doesn’t agree with the wording on the deed of postponement and it needs to be changed. Why they are now involved and have a say is really beyond me and why wasn’t that checked earlier by them??
My solicitor changed the wording but now EBS is refusing to sign the document again. It’s really a joke at this stage.
I’m paying two mortgages for the past 4 months. I’m so close to get the house under my sole. I’m still the owner of the house since 2009, I have no idea why they are making things so difficult.
Did you get sorted at your end? Would you mind letting me know how?