Transferring mortgage from person to person

gasmanmartin

Hi all,

I live in a house that my parents own and was thinking of buying it from them and getting a mortgage, but - to my dissapointment, i'm unable to (bad financial link that i can't remove) .

My question is; can my parents transfer the mortgage into my name (removing their names completely) so i am the sole owner and just continue to make the same repayments that they were without all the hassle of more credit checks that i know i will not pass?

Many thanks in advance:beer:

_Andy_

Putting the mortgage into your name will require an application including credit check etc.
So in answer to your question, no.

nickmack

gasmanmartin wrote: »

My question is; can my parents transfer the mortgage into my name (removing their names completely) so i am the sole owner and just continue to make the same repayments that they were without all the hassle of more credit checks that i know i will not pass?

No, you can't. If it was possible, this would be an loophole that would allow anyone with a high risk of defaulting to have someone else take out a mortgage and then just get it signed over to them.

darkman13

i tried went to a broker where he said it was possible to put my name on parents mortgage, and the full their names off afterwards, but this wasnt the case, im not sure what kind of broker he was but i found out it wasnt possible due to the point nickmack made!

gasmanmartin

Many thanks for the replys!

curently in the process of "fixing" my credit report to hopefully do this sometime in the future:j