Posted on 6 October 2012 by Steve Smith
I currently live with my parents and mortgage is in our 3 names although I make all the payments. I will be leaving the household but parents will remain in the house. My brother wishes to take over paying the mortgage so he has a stake in the property. Would it be possible to change existing mortgage so that it is in the name of my brother and I. My parents are happy to remove their names from mortgage and title deeds so long as they can continue to live there.
This known as a "Transfer Of Equity", and subject to meeting the lenders' criteria is a fairly straightforward process. To discuss your query in more detail, please let me know and I will arrange for one of our consultants to contact you.
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