Transfer of title during fixed term

chudleyette

Does anyone know if you can change the title of a mortgage during a fixed term without incurring early repayment charges?

I am looking at taking out a mortgage with my husband, but we may decide to separate during the fixed rate, in which case I will take over the mortgage. Can one usually change the title to a single person's name (assuming they have enough income) during the fixed rate period, or does this count as redeeming the mortgage and having to take out a new one? Or will it depend on the lender? Am looking at the Co-op Bank ones.

Many thanks in advance for any advice.

Person_one

I was on a capped tracker with the co-op (capped for five years so similar to a 5 year fix) and they're only charging a £107 fee in addition to solicitor fees for us to transfer from joint names to just my ex partner's.

When you say you might separate though, are you just considering all possibilities or is there a good chance of it? If its the second is buying a house together the best idea?

chudleyette

Thanks, that's really useful. Assume that you're still on the tracker for the rest of the term of your mortgage?

It's a re-mortgage, btw, not a new purchase - that would be madness!!

Person_one

chudleyette wrote: »

Thanks, that's really useful. Assume that you're still on the tracker for the rest of the term of your mortgage?

It's a re-mortgage, btw, not a new purchase - that would be madness!!

Yep, tracker for the rest of the mortgage, well, him not me now!

Co-op have been great with th whole process actually, I'm hoping I'll be free within a couple of weeks and we only split in April. Of course it helps that he's being as co-operative as the bank (apologies for terrible corniness).

getmore4less

why bother with a remortgage now why not do it at the same time you split and take over the mortgage.

Or just get it in your name now.

asuming he knows about this potential split