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Can I transfer a loan into someone else's name?

ams006
ams006 Posts: 4 Newbie
Tenth Anniversary First Post Combo Breaker
Hi,

Does anyone know if you're allowed to transfer a personal unsecured loan from your name to someone else's name?
(Obviously with the other person's consent! lol)

Any info would be appreciated.

Thanks

Comments

  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    no..................

    but of course they can take out a new loan, give you the money and then you can pay off the old loan

    probably stupid but you haven't given the full circumstances so impossible to say
  • paddyrg
    paddyrg Posts: 13,543 Forumite
    No, the lender agreed to lend money to you based on your creditworthiness, and whether they thought you would pay it back in a troublefree and timely fashion, and set the APR accordingly. Someone else has a different credit profile, so no.
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