adding name to mortgage

handyandy_3

hi can anybody tell me how much roughly it would cost me to put my other half on the mortgage paperwork only my bank said that i could probably get a little bit more of a mortgage if i put my other half down alongside me so they can take into account her earnings as well as mine,as i am trying to get a bit more money from the remortgage than they will offer me on my own.

TEDDYRUKSPIN

you might be able to get away with administration fees but it will cost you the amount of solicitor. I don't know the exact cost but it can range from £280 to the most rip off solicitor at £700.
Shop around and ask for a quote. It does'nt cost anything to phone up different solicitors and they will give you a quote. Also phone up your mortgage provider and tell them to waive the admin cost as you want to borrow more money.

handyandy_3

thanks for the reply teddy i will have to ask exactly how much extra the c and g will lend me 4 putting the other halfs name on the mortgage as that amount of costs is a bit on the steep side for me to swallow

Bossyboots

Is your other half on the deeds of the property? If so, this may in fact be a ploy by your mortgage company to spread their risk. If not, is s/he prepared to put their name to a mortgage without any collateral in case you default? You are also likely to be liable to pay stamp duty for doing this if you need to put both names on the deeds. Your partner should also seek independent legal advice (this is likely to be made a condition of the mortgage anyway) about the risks involved in what is proposed.

ginger_nuts

if its a remortgage can you not go to a different lender who offer free legal work .Then you should be able to add another name at this point .

herbiesjp

Free legal work offered by lenders does not include adding/removing names. This will incur an extra fee - around £250 is about an average