Yes, it’s usually possible, but it isn’t an automatic “transfer”. Your lender has to agree, and your son has to pass their affordability checks on his own.
In most cases this is handled as a transfer of equity, with the mortgage either staying in place with the same lender (but in one name), or being replaced with a new mortgage in your son’s sole name.
How it works in practice
There are two moving parts, and they need to line up:
1) The mortgage (lender permission).
Your lender will treat this like a new affordability decision. They’ll want to see your son can meet repayments alone, and they’ll run the usual checks.
2) The legal title (Land Registry change).
A solicitor will transfer ownership from joint names to your son’s sole name and register the change. The lender will usually require a solicitor to handle this so their security remains properly protected.
What your lender will look at
Even if payments have always been made on time, lenders will usually assess your son as if he were applying today. Expect focus on:
- income and employment status
- committed outgoings (credit, loans, childcare, maintenance, etc.)
- credit history
- the property value and loan-to-value
- whether the mortgage product has any restrictions on a change of parties
If your son’s income doesn’t support the loan on his own, the lender can refuse, even where the intention is sensible.
Costs and fees to expect
This is rarely expensive, but it isn’t free.
- Lender admin fee for the transfer (varies)
- Solicitor fees for the transfer of equity and Land Registry work
- Valuation fee if the lender requires one
- Potential product or early repayment charges if you need to remortgage rather than transfer within the existing deal
Stamp duty and tax: the bits to flag early
This is where people get caught out.
If your son is taking on your share of the mortgage (or paying you anything for your share), that can count as “consideration” for stamp duty purposes, even if there’s no cash changing hands. A solicitor can confirm whether SDLT applies based on the mortgage share being transferred.
There may also be tax considerations depending on whether the property is your main residence or an additional property, and whether there’s any gain to report.
Common reasons transfers get delayed
- Your son’s affordability is tight once everything is fully declared
- The property is leasehold and the freeholder/managing agent needs notice/consent
- The lender requires a valuation and it comes in lower than expected
- There are restrictions on the title that need dealing with first
What to do next
Start by speaking to the lender to confirm they’ll consider a transfer to sole name, and what they’ll require from your son. In parallel, speak to a solicitor about the transfer of equity paperwork and the stamp duty position.
A broker can also help here, because if the current lender won’t agree, or affordability is marginal, it may be cleaner to remortgage to a lender whose criteria fits your son’s situation better.
Contact us today on 023 8235 2300 to learn more about transferring a property title and mortgage from joint names to a sole name.
