Transfer of Title

Posted on 18 January 2011 by Olga

My mum is sick and me and my husband need to move back to Poland. We don't want to keep our flat. We would like to transfer title and morgage to another person.  What we should do?


If you have a specific person in mind, you should all make an appointment with your existing mortgage Lender to see if it will be possible to transfer the mortgage into their name. They will want to be sure that the new applicant can afford the mortgage payments and will carry out underwriting checks very similar to those that you had to pass when you first got the mortgage.

If you do not have someone in mind and need to sell the property then I recommend that you speak to several local Estate Agents, it is a good idea to get a recommendation from family or friends if you can. They will give you an idea of how much your flat is worth, how much they will charge and whether or not they can arrange an Energy Performance Certificate.

When you use an estate agent to help you sell a property, you have to sign a legally binding contract. Before signing, read the contract carefully and make sure you understand it. Find out whether you have the right to cancel the contract and check how long it will run. It should allow a reasonable length of time to market your property and find potential buyers but beware of contracts that tie you to an estate agent for a very long time.

At the same time you should speak to your solicitor about the possible transfer and/or sale of the property. They will act on behalf of you and the Lender, but any new purchaser will need to get their own independent legal advice.


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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