Taking My Ex Off The Mortgage

Answered on 21 May 2016 by Nick Morrey

My ex is still on my mortgage and he hasn't paid any contributions towards it and has asked to have his name off of it. Do I have to re mortgage or is it simply a paper exercise?

What you are looking to do is called a 'Transfer of Equity' and it depends on what needs doing. If you are just taking his name off the mortgage, and meet your current lenders criteria to take the loan on in your sole name, then yes, it is pretty much a paper exercise.

However if you don't meet their criteria, or if you need to raise capital to pay him a lump sum, then you may to look at remortgaging as part of the process.

If you'd like to discuss your enquiry further, then please call us on 0344 346 3672 and we'll arrange a suitable time for you to speak to one of our consultants.

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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