Taking Someone Off The Mortgage

Answered on 26 January 2015 by Nick Morrey

I jointly own a mortgaged house with an ex-husband. He now wants off the mortgage, however I want to keep the  mortgage and property on. Also he dosen't want a pay off.

What you are looking to do is a "Transfer of Equity", whereby you would remortgage the property into your sole name, and have your ex-husband taken off both the mortgage and title deeds. To do this you will need to meet the lenders standard affordability criteria to make sure that you are able to support the loan based on your current financial cicumstances.

You may wish to firstly approach your current lender, however if they are unable to help, then I would suggest calling us on 0344 346 3672 and speaking to one of our consultants who should be able to assist you.

Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.


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