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Transfering Mortgage/House
patjenkins
Posts: 35 Forumite
I have a house with a mortgage at present that I let out.
The problem I have is that I am concerned about my business failing in the future. I have a personal guarantee in place on my business for £120,000.
Whatever happens I never want to lose the house and I wondered whether it would be possible to put someone else on the mortgage and then take my self off the mortgage so that if the worst did happen the bank couldn't have claim on the house?
The problem I have is that I am concerned about my business failing in the future. I have a personal guarantee in place on my business for £120,000.
Whatever happens I never want to lose the house and I wondered whether it would be possible to put someone else on the mortgage and then take my self off the mortgage so that if the worst did happen the bank couldn't have claim on the house?
0
Comments
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there are laws to protect your creditors against this sort of thing I'm afraid.Happily an ex mortgage broker!0
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