I now want my son to be added as joint owner on the property he lives in, and my partner removed. How do I do this?

Posted on 26 April 2014 by Cindy

Last year my partner helped me by becoming joint borower on a mortgage with me for a house that my son lives in. This was simply because my son at the time could not get a mortgage. I myself put £60,000 down and the mortgage is left at £70,000. My son pays all of the mortgage and my partner has never had to pay a penny towards any part of it. In fact I gave my partner £3000 for his help in getting the mortgage with me . I now want my son to be able to be added as joint owner and my partner removed. How do I do this?


What you are looking to do is called a "Transfer of Equity", whereby you apply to have your partner removed from the mortgage and title deeds at the same time as adding your son to it.

You can apply to do this with either your existing lender or if they are unable to assist, then we can look to move the mortgage to a new provider. If you only took the mortgage last year, then we may need to fator into the equation if there are likely to be an early redemption charges to pay off, and therefore I'd certainly suggest speaking to your current lender first.

Once you've spoken to your current lender, if you'd like to discuss your options in more detail, then please contact one of our consultants on 0344 346 3672 and they'll be able to give you a better idea of how we can help.



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