changing name on our mortgage

tabskitten

My partner and I jointly own our house. We want to put it in my name only now.
Does this breech our terms do you think?
Is it even possible.Payments etc will be unaffected......

VIGILANT22

Lender will have to give permission after assessing your affordability etc

tabskitten

The whole scenario is that we are considering a move to the USA and hubby might have to go on out there and leave me here if he gets a job offer......
So were wondering if he will get taxed over there on a flat that we joint own and rent out?
So thought if we change it all to my name then we an avoid this.....?

Senior_Paper_Monitor

With regard the mortgage/title register - Vigilant22 is absoluteley correct - if th lender decides that the remaining proposed owner (i.e) meets affordability (and credibility) requirements on their own - no allowance will be made for your OH's earnings, contribution etc, they will permit the change and the cost of doing so will be fairly small.

The reasons behind you considering this are far more complex - definition of you individual 'domiciles' will be a key factor. Are you concerned about UK tax or US tax (or both) liability in the scenario that you outline? I Take good tax advice (I am certainly not qualified to give this - and your average high street accountant won't be in the case of American legislation which is dragonian and pompously global) as it affects you both before deciding the best structure. 'Coming off' the Title Register/mortgage has other potential personal implications, particularly for the one coming off, that should be considered separately.