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You cannot transfer the property without the consent of the lender. The hold a first legal charge over the property preventing the land registry title from being transferred. You could only transfer it in to your sole name if you could demonstrate sufficient finance to receive a mortgage offer in your sole name.
There would be legal fees for the remortgage and if you did this at an undervalue (ie. you did not pay your partner for their share of the equity) then this would be a transaction effectively defrauding your ex-partner's creditors. The court has wide powers to disclaim these transactions and you would be liable for the fees of creditors in enforcing this. This would compound the problem.
Your half of the equity is protected in the event of a sale.
Sorry it could not be better news. if this is useful please click accept so that I may be rewarded for my time. You will be free to ask follow up questions.
Cheers Tom, I thought so. I just feel sorry for him and wanted to do something to help. Worth every penny of that eleven quid. Brilliant service by the way.
Thanks for your kind accept. By avoiding falling in to a transaction defrauding his creditors you are helping him. Hopefully he will see the logic in that.